Prime Bank FinTech gets nod from Central Bank to operate MFS

Prime Bank FinTech Limited, a subsidiary of Prime Bank PLC., has been awarded a license to operate Mobile Financial Services (MFS) in the country.

This enables Prime Bank FinTech Ltd. to formally launch its own brand of MFS services in Bangladesh, according to a media release. 

With this regulatory approval, Prime Bank FinTech Limited is set to reshape the country’s digital financial ecosystem by addressing the vast untapped spaces. The goal is to move beyond traditional competition and foster a collaborative market environment that prioritizes financial literacy and inclusive growth, the release says.

Prime Bank FinTech Limited will operate its Mobile Financial Services under a dedicated brand identity, according to the release.

The brand will work closely with regulators, partners and stakeholders to ensure compliance, operational excellence and a seamless customer experience as it prepares for its formal launch, the release adds.