Sending over Tk1,000 via bKash, Nagad, Rocket, other MFS likely to be barred during polls
The move is aimed at preventing the use of money to influence voters during the election.
Transaction limits through mobile financial services (MFS), including bKash, Rocket, and Nagad, are likely to be tightened during the upcoming 13th national election period, with the aim to curb use of money to influence voters, according to sources.
Under the planned restrictions, users will be allowed to transact up to Tk10,000 per day through MFS, with each individual transaction capped at Tk1,000.
In addition, person-to-person fund transfers through internet banking channels will be suspended for a limited period. The restriction will apply specifically to transfers from one individual customer to another.
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These limitations are expected to remain in force from 8 to 13 February, according to senior officials at Bangladesh Bank. The election is set to be held on 12 February.
Bangladesh Bank Spokesperson Arif Hossain Khan today (1 February) told The Business Standard the central bank would act in line with directives issued by the Election Commission (EC) regarding the operation of MFS and internet banking services during the election period.
"Our Payment Systems Department has received a letter from the BFIU, and based on that, we have sought clarification from the Election Commission. I believe a circular will be issued very soon once instructions are received from the EC," he added.
However, a senior official of the Bangladesh Financial Intelligence Unit (BFIU) said the agency itself had not issued any directive independently.
"We have not issued any letter on our own. The Ministry of Home Affairs has sent a letter to multiple agencies regarding transactions during the election period. The letter we received was forwarded to the Payment Systems Department," the official said.
The move is aimed at preventing the use of money to influence voters during the election. At the request of the EC, the BFIU has drawn up the plan, while the central bank is preparing to implement the measures, sources said.
Officials noted that the transaction limits may still be adjusted before final implementation.
