Ex-BB governor Farashuddin slates 'high' mobile banking charges
Staff Correspondent, bdnews24.com
Published: 2017-02-10 00:57:52.0 BdST Updated: 2017-02-10 00:57:52.0 BdST
Former Bangladesh Bank governor Mohammed Farashuddin has criticised mobile banking outlets for 'charging more than usual'.
He has termed mobile banking a 'mobile joke' and called for government intervention to cut down charges.
He was speaking at the deputy tax commissioners' council organised by the National Board of Revenue (NBR) in Dhaka on Thursday.
"It takes Tk 1.86 to send Tk 100 through mobile banking. Just think how wicked it is! Tk 1.86 means Tk 2. But those with no bank accounts have to pay Tk 2 to transfer the money," he said.
The former central bank governor said this was his firsthand experience.
"Why should it take Tk 1.86 or Tk 2 in mobile banking while the charge is only Tk .4 in banks?" he asked.
He opined that praise from foreigners of the mobile banking system 'concealed' the fact that the system is charging 'extra'.
"The government will have to understand this and intervene. It needs regulation," he added.
He recommended making the Tax Identification Number (TIN) a must for transactions of over Tk 100,000 cash and taxing online shops.
Farashuddin also slated government policy on fixing fuel oil price.
He wondered why the government decreased octane price, used by the 'rich', instead of cutting price of kerosene, used by '65 percent of the population'.
"It doesn't matter for those buying octane if the price is hiked by Tk 10 (a litre)," he said.
He advised the NBR to tax more those making profits due to the higher price of fuel oil in domestic market than the global one.
"Catch those who are making profits of tens of billions of taka taking the chance of higher domestic price than global one of fuel oil. NBR should demand half the extra profit from them," he said.
Bangladesh imports fuel oil mostly through state-owned Bangladesh Petroleum Corporation (BPC). Besides the BPC, some companies like Summit Group import fuel oil for private power plants.
NBR Chairman Nojibur Rahman and FBCCI President Abdul Matlub Ahmad, among others, also spoke at the programme.
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