• Tuesday, Jan 19, 2021
  • Last Update : 01:28 am

BB won’t allow mobile operator-led MFS

  • Published at 03:15 pm May 9th, 2017
  • Last updated at 03:21 pm May 9th, 2017
BB won’t allow mobile operator-led MFS
Bangladesh Bank Deputy Governor SK Sur Chowdhury has said the central bank will not allow mobile operator-led mobile financial service (MFS). "We will not allow any mobile operator-led model except bank-led model," Sur said at a roundtable held at a city hotel on Tuesday. United Nations Capital Development Fund (UNCDF) Bangladesh organised the roundtable titled "Role of Digital Financial Services in promoting inclusive growth: challenges and opportunities". At present, mobile financial services are being run by commercial banks. Mobile operators have long sought to run the MFS but the banks were always opposed to the idea. According to the Regulatory Guidelines for Mobile Financial Services in Bangladesh, the MFS platforms will be sponsored and led only by commercial banks. The deputy governor said the central bank in recent years has taken several initiatives to promote Digital Financial Services (DFS). “Bangladesh Bank and Bangladesh Telecommunication Regulatory Commission are working together to boost up this kinds of services,” he said, adding that DFS brought new opportunity. He said income gap was narrowing due to mobile financial services. Dr Mustafa K Mujeri, executive director of Institute for Inclusive Finance and Development (InM), presented the keynote paper at the programme. Mujeri emphasised on creating a well-functioning and satisfactory digital financial service framework. He urged the authorities concern to set a well-articulated vision of DFS and undertake a comprehensive review of MFS guidelines and agency banking guidelines. He also suggested developing a risk management framework aligned to global industry standards and promoting innovation as well as managing risks. Kamal Quadir, chief executive officer of bKash, said they were struggling and looking for solutions to the problem they are facing in digital financial services. Abul Kashem Mohammed Shirin, managing director of Dutch Bangla Bank Limited, said: “Main barrier in digital financial service is getting the link. Several different banks were trying to get connectivity from MNOs but failed to get that.” According to UNCDF, more than 50 percent people in Bangladesh do not have access to financial services. Within this context, UNDCF aims to work with Bangladesh government and other industry, regulatory and client level national counterparts to bring sustainable changes in the market.
50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail