Mobile banking transactions capped until voting day midnight to limit daily transfers

The central bank imposes temporary limits on mobile financial services transactions to ensure financial security

As with previous elections, Bangladesh Bank has issued instructions to restrict transactions through mobile financial services (MFS) before the parliamentary polls.

The central bank sent the directive to commercial banks on Sunday.

Under the instructions, transactions through mobile banking will be capped at Tk 10,000 per day from Sunday until 12am on Feb 12, the day of voting.

Bangladesh Bank spokesperson and Executive Director Arief Hossain Khan said, “Customers will be able to send or withdraw up to Tk 1,000 per transaction, with a daily maximum of Tk 10,000.”

Separately, another internal directive has asked banks to ensure that daily cash transactions per customer do not exceed Tk 100,000.

The central bank said the measures were taken to ensure financial security during the election period.