Digital transactions to be limited by govt from 8–13 February

Bangla Press Desk: Ahead of the national election, Bangladesh Bank has decided to impose strict controls on digital financial transactions amid concerns over the use of money to influence voters.

From 8 to 13 February, all mobile financial services (MFS)—including bKash, Nagad and Rocket—will be allowed to transfer a maximum of Tk10,000 per day per account.Each individual transaction will be capped at just Tk1,000, effectively suspending large-value transfers during the six-day period.

Banking channels are also set to face tighter restrictions at the same time. Preparations are underway to completely suspend person-to-person fund transfers through internet banking platforms.

The restriction may be enforced across apps such as Brac Bank’s Astha, City Bank’s Citytouch and Dutch-Bangla Bank’s NexusPay.

Sources at Bangladesh Bank and the Bangladesh Financial Intelligence Unit (BFIU) said the measures are being taken at the request of the Election Commission, with the sole objective of preventing the misuse of money to influence voters.

In parallel, strict monitoring of cash deposits and withdrawals has already begun. Any account recording transactions of Tk10 lakh or more in a single day must be mandatorily reported to the BFIU.

If inconsistencies are found in the reports, the concerned bank may also face punitive action.

According to Bangladesh Bank’s spokesperson, a formal circular on the restrictions will be issued soon in line with the Election Commission’s requirements.If necessary, the transaction limits may be further adjusted.

At present, mobile financial services allow daily transactions of up to Tk50,000. The sudden tightening of limits has therefore sparked widespread discussion among customers and businesses. It is evident that, surrounding the election, the flow of digital money is coming under unprecedented regulatory control.

BP/SP