Mobile transfers capped at Tk1,000 for four days

Bangla Press Desk:  Ahead of the 13th parliamentary election, the Bangladesh Bank has imposed temporary restrictions on mobile financial services (MFS), including bKash, Rocket, and Nagad, to prevent the use of money to influence voters.

According to a central bank circular issued on Sunday, MFS users will be allowed to transact a maximum of Tk10,000 per day, with each person-to-person (P2P) transfer capped at Tk1,000, from 12am on 9 February to 11:59pm on 12 February.

In addition, P2P fund transfers via internet banking and mobile banking apps will remain completely suspended during the same period. As a result, individual customers will not be able to send money to others using these platforms.

The move follows a request from the Election Commission (EC), with the Bangladesh Financial Intelligence Unit (BFIU) formulating the proposal and the Bangladesh Bank preparing for implementation. Officials said the transaction limits could still be adjusted before they take effect. 

Currently, MFS users can deposit up to Tk50,000 per day through agents and withdraw up to Tk30,000 per day. They are also allowed to transfer up to Tk50,000 per day to another individual, with a monthly transaction ceiling of Tk3 lakh. Users can make up to 50 transactions per day and 100 transactions per month.

Meanwhile, customers using internet and app-based banking platforms—such as BRAC Bank’s Astha, City Bank’s Citytouch, Islami Bank’s Selfin, Dutch-Bangla Bank’s NexusPay, and Pubali Bank’s Pay-to—currently enjoy higher limits, including daily transfers of up to Tk10 lakh. These services will also face suspension of P2P transfers during the election period.

According to the Bangladesh Bank circular, each MFS provider must form a Quick Response Cell to receive and resolve election-related complaints and take necessary action. All transactions must be brought under round-the-clock close monitoring, and any suspicious or abnormal transactions must be reported to the concerned police station without delay.

The circular also directed MFS providers and banks to extend full cooperation to the EC and law enforcement agencies. Source: daily Sun

BP/TD