Mobile banking transactions hit Tk 8.44 billion a day in Bangladesh

Mobile-phone banking in Bangladesh now generates a little over Tk 8.44 billion in daily transaction as the banking method enjoys a growing popularity.

The finance ministry told parliament on Monday that on an average, clients make around 5 million transactions through mobile financial services or MFS daily.

Food Minister Qamrul Islam, on behalf of Finance Minister AMA Muhith, took the floor in his absence and answered the questions that came from the MPs.

The number of MFS providers is 17 with a customer base of 52.6 million served by 746,000 agents, the minister added.

MFS is getting more popular in Bangladesh by the day. A former governor of Bangladesh Bank, Atiur Rahman, during whose tenure mobile banking was introduced to the country, claims that 'no other country has more mobile banking customer than Bangladesh has'.

In parliament, the minister also said 88 percent of the 3,725 branches of the state-owned banks provide full online services to their customers.

He said donor countries and agencies pledged Bangladesh $2.45 billion in grants from 2009-10 to 2017.

According to the minister, six countries or agencies pledged the fund for improving food storage facilities and 21 others for developing human resources.

Replying to Golam Dastagir Gazi's question, Qamrul said the number of taxpayers in the country is around 3 million now.

He said the amount of smuggled gold seized in the two straight terms of the Awami League government until now is around 4,500 kilograms.

Bangladesh received around $15 billion remittance in fiscal 2015-16 while $37.1 million was remitted out of the country in the same fiscal, he said.

Foreigners working in Bangladesh send money abroad. Bangladeshis also send money abroad for students, patients and businesses in foreign countries, added Minister Qamrul.