Dhaka, Bangladesh (BBN) – The central bank of Bangladesh on Tuesday sought opinions from stakeholders including banks on using mobile phone network for money transfer by September 10 next, officials said.

The Bangladesh Bank (BB), the country’s central bank, took the move to expedite domestic money transfer with minimum charges particularly in the country’s remote areas through mobile phone networks that would encourage the inflow of inward remittances.


“We have already sent the draft policy on Bangladesh Mobile Payments Guidelines 2008 to all banks seeking their opinions,” a BB senior official told BBN in Dhaka after a review meeting held at the central bank on the day with BB Governor Salehuddin Ahmed in the chair.

He also said the central bank has also sought opinions from the Bangladesh Telecommunications Regulatory Commission (BTRC) in this connection.

At present, around 13 per cent people have bank accounts while 35 per cent people are now using mobile phone across the country, they said, adding that the central bank thought that mobile phone would be easier for disbursing money than the banking channel.

Many countries including the Philippines, Brazil, Kenya, South Africa and Pakistan have already allowed payment through mobile phone.

Most of the mobile operators have already showed their interest to use their network for such money transferring business.

BBN/SI/SI/AD-27August08-12:03 PM