The number of mobile banking subscribers has crossed the one-crore mark, thanks to a rapid expansion of the financial outlets of commercial banks.
The number of mobile banking accounts has nearly doubled to 1.24 crore in seven months from 50 lakh in April, according to Bangladesh Bank.
Mobile banking subscribers increased 11.79 percent to 99.8 lakh in October, rising from 89.3 lakh in September, BB data shows. Transactions through mobile banking stood at Tk 509 crore in October.
As part of the government’s financial inclusion programme, the central bank has allowed 27 banks to provide mobile-banking; to date, 19 have launched the service.
A lot of enthusiasm is centering around mobile banking as BB is promoting commercial banks to develop their mobile-based financial services, the central bank said in a statement.
Launched in 2011 by two private banks, mobile phone-based financial services have became popular in the country, it said.
Using a mobile phone and without making a visit to a bank branch, a customer can transfer money, receive salaries or pay bills from their accounts through mobile banking.
The central bank has allowed mobile banking systems to provide almost all services from disbursement of inward remittances to cash in and out, person to business payments, business to person payments, person to government payments, government to person payments and person to person payments.
Customers are also allowed to make some other payments such as microfinance, overdrawn facility, insurance premiums and deposit schemes.

News:The Daily Star/14-Nov-2013