Mobile banking registered 186 percent growth in cash transactions over 12 months of 2013 thanks to the growing popularity of the services. The number of subscribers grew 262 percent to 1.31 crore in the same period. The value of mobile banking transactions stood at Tk 6,642.61 crore in December, 2013 up from Tk 2,320.02 crore in January 2013, according to central bank data. It is observed that person to person money transfer—'cash in' and 'cash out'—are the most popular types of transactions. As part of the government's financial inclusion programme, the central bank allowed 28 banks to provide mobile-banking; to date, 19 have launched the service. [Bangladesh Bank,19/01/2014]
There is a lot of enthusiasm with mobile banking, as the banking regulator is promoting commercial banks to develop the financial service. Launched in 2011 by two private banks in the country, mobile banking services have now become popular. A customer can transfer money, receive salaries or pay bills from their accounts through mobile banking without visiting any bank branch.
[Source:
http://www.thedailystar.net] Published: January 20, 2014
Sayed Farrukh Ahmed
Assistant Professor
Faculty of Business & Economics
Daffodil International University
