Election Curbs on MFS, Internet Banking Withdrawn

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Election Curbs on MFS, Internet Banking Withdrawn

B Mirror Report:  To prevent the misuse of money during the national election, mobile financial services (MFS) and internet banking services were restricted. These services were limited for four days. As a result, customers of MFS providers such as bKash, Rocket, and Nagad were unable to send more than 1,000 taka per transaction.

The restrictions were lifted after midnight last night, according to sources at Bangladesh Bank.

Last Sunday night, Bangladesh Bank announced the restrictions on these services, and the decisions took effect from that day. As a result, many customers faced difficulties while trying to send money.

In a circular, the central bank stated that to prevent the misuse of person-to-person (P2P) transactions through MFS and internet banking (IBFT under the National Payment Switch Bangladesh) during the 13th National Parliamentary Election, the decision had been made to impose the restrictions.

Accordingly, from 12:00 a.m. Sunday until 11:59 p.m. on February 12 (a full 96 hours), the maximum limit per P2P transaction via MFS was set at 1,000 taka, with a maximum of 10 transactions per day. However, merchant payments and utility bill payments remained unchanged under existing rules.

Additionally, person-to-person transactions through internet banking services (via IBFT) were completely suspended during this period.

 

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