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BB suspends mobile banking for 48hrs

BB suspends mobile banking for 48hrs

Bangladesh Bank has suspended all kind of mobile-based financial services (MFS) on temporary basis ahead of the Dec 30 national elections.

Bangladesh Bank suspends all mobile financial services for 48 hours from 5:00 p.m. on Dec 28 ahead of national parliamentary elections. The central bank issued a circular to this end on Thursday (Dec 27) according to an Election Commission directive, local media reports said.

However, transaction through personal MFS account up to Tk 5,000 in a day during 5:00 p.m. on Dec 29 to 5:00 p.m. on Dec 30 will be allowed, the circular said.

BB also asked the banks and subsidiaries of the MFS provider to take necessary initiatives regarding the matter and directed them to inform the concerned clients of the MFS about the decision.

Apart from suspending the digital payment method MFS, the Election Commission, ahead of the polls, have already instructed Bangladesh Telecommunication Regulatory Commission to take preparation to degrade mobile internet speed to 2G from 3G and 4G during Dec 29, 30 and 31.