The Financial Express

Mobile financial services transaction hits all-time high

| Updated: June 09, 2021 14:39:25

Mobile financial services transaction hits all-time high

Transactions through mobile financial services (MFS) hit an all-time high of Tk 634.79 billion in April last as an increased number of people and businesses preferred using digital services amid the ongoing Covid-19 pandemic.

The amount of MFS-based transactions grew by more than 6.0 per cent or Tk 38.36 billion to Tk 634.79 billion in April 2021 from Tk 596.42 billion a month ago, according to the central bank's latest statistics. The previous highest of Tk 629.99 billion was posted in July 2020.

"General people, businessmen and the government agencies now prefer to make their payments using MFS," a senior official of the Bangladesh Bank (BB) told the FE while explaining the rising trend of MFS transactions.

He also said transactions through MFS normally increase ahead of Eid festivals.

Besides, a good number of people sent money to their near and dear ones using the MFS channel for celebration of the Eid festival, according to a senior executive of a leading private commercial bank (PCB), which runs MFS.

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