Bangladesh Bank limits mobile money transaction

27 April 2015, Nirapad News: Bangladesh Bank (BB) on Monday put a ceiling on all kinds of transactions through mobile banking.

The central bank in a directive said that all types of transactions including cash in, cash out, person to person payment, merchant payments and mobile top-up through a mobile account should not be over Taka 1,000.

The directive will remain effective till Tuesday midnight, BB said, asking all banks and their subsidiaries to follow it in providing their clients with the mobile financial services.

Clarifying the directive, general manager of governor Secretariat AFM Asaduzzaman told, an account holder would be allowed to transact a total of Taka 1,000 from his mobile account till midnight on Tuesday. “All normal mobile transactions would be allowed from April 29,” he added.