BB governor for healthy competition in mobile banking

Bangladesh Bank Governor Fazle Kabir has urged mobile financial service (MFS) operators to maintain healthy competition in the sector so that everyone gets a fair shot.

"The operators are offering different types of facilities to lure clients. For the greater development, one's provided facilities should not hurt others," the governor said while addressing the 10th anniversary of the mobile financial services in the country at a capital hotel on Saturday.

All the 13 MFS operators saw around 3.8 million transactions last year, he noted, adding that mobile banking largely contributed to easing access to finance at the mass level.

"The popularity of MFS surpassed other non-traditional banking systems such as agent banking and sub-branch banking."

Fazle Kabir suggested the operators keep the cash-out and other charges at an affordable level all the time.

Education Minister Dipu Moni, at the event, said mobile banking had a great contribution to improving lifestyles. "Not as a minister, simply saying as just a citizen, the MFS brings smiles on the faces of common people."

Social Welfare Minister Nuruzzaman Ahmed, representatives of MFS operators and other senior government officials were present at the event.