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After several months of slowdown, overall mobile financial service (MFS) transactions in Bangladesh rebounded in August 2025, according to the latest data from the Bangladesh Bank (BB).
However, remittance inflows through MFS channels registered a slight decline during the period.
Total MFS transactions increased to Tk 1.51 trillion in August, up from Tk 1.48 trillion in July and Tk 1.46 trillion in June, reflecting a gradual recovery. In comparison, such transactions had been higher at Tk 1.55 trillion in May, before the recent slowdown began.
Inward remittances via MFS edged down slightly to Tk 16.63 billion in August, compared to Tk 16.64 billion in July, indicating a nearly flat trend in remittance inflows through mobile platforms.
BB data show that total MFS transactions had fallen sharply to Tk 1.25 trillion in April from Tk 1.78 trillion in March, mainly due to a temporary data-reporting gap at Nagad, one of the country's largest MFS providers.
The central bank confirmed that Nagad was unable to submit data from March due to unavoidable technical reasons, leading to a statistical shortfall in the national totals.
Despite that, MFS-based inward remittances-used primarily by families of migrant workers-showed resilience. While inflows dipped slightly in May to Tk 16.47 billion, they surged in June to Tk 18.65 billion, according to BB figures.
Industry insiders and economists said the August rebound reflects the sector's underlying strength and seasonal demand recovery.
"The uptick in August indicates sustained consumer confidence in digital payment channels," said an MFS industry executive.
As of August 2025, the number of MFS accounts is 146.46 million of which 69.87 million are in urban areas and 76.60 million are in rural areas. As of June, the number of MFS accounts stood at 145.64 million, with 69.35 million in urban and 76.29 million in rural areas, BB data revealed.
MFS platforms-such as bKash, Rocket, Upay, and Nagad-continue to dominate the market, driving digital financial inclusion through services like salary payments, merchant transactions, utility bill payments, and inward remittance disbursements.
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