National polls: BB limits P2P MFS to Tk1,000 per transaction, suspends internet banking from 9-12 Feb
Merchant payments and utility bill transactions will remain unchanged and continue to be processed under existing rules
Bangladesh Bank has issued a series of directives to restrict Mobile Financial Services (MFS) and Peer-to-Peer (P2P) transactions for a 96-hour period.
During this period, P2P internet banking transactions through Internet Banking Fund Transfers (IBFT) will remain completely suspended.
From 12am on 9 February to 11:59pm on 12 February, customers of bKash, Nagad, Rocket and other MFS providers will be allowed to transfer a maximum of Tk1,000 per transaction, according to a circular issued by the central bank today (8 February).
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Each customer will be able to make up to 10 such transactions per day.
Merchant payments and utility bill transactions will remain unchanged and continue to be processed under existing rules, it added.
According to the circular, each mobile financial service provider must form its own quick response cell to receive and resolve complaints related to MFS during the election period and take necessary measures.
All transactions during the specified time must be brought under round-the-clock close monitoring by MFS providers, and any suspicious or unusual transactions must be reported to the concerned police station as quickly as possible, it said.
