Bangladesh Bank has extended by a further five months the deadline for implementing new rules on the facility of “adding money” from a bank card to a mobile financial service (MFS) account. Mobile financial service providers (MFSPs) and scheduled banks are therefore getting until 31 December to implement the rules.
A circular was issued by Bangladesh Bank on Thursday.
Under the new rules, the technical and operational arrangements necessary for the “add money” facility from cards to MFS accounts must be ensured by 31 December. If they fail to implement it within the set time, the facility of adding money to MFS accounts using cards must be stopped from 1 January 2027.
At present customers can add money to MFS accounts using bank debit and credit cards. But Bangladesh Bank had issued certain new rules to strengthen security, verify customers’ identity (KYC) and ensure transparency in such transactions. Additional time has been given to make the necessary changes in the technical infrastructure and procedures of banks and MFS institutions to implement these rules.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report