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The decision, which was supposed to take place between the four banks on Tuesday (October 28) among mobile financial service providers (MFS), has been postponed for now.
On Tuesday morning, the central bank verbally instructed mobile banking service providers and concerned banks not to introduce cross-transactions.
Bangladesh Bank officials say attempts to link mobile banking and bank accounts have yet to be successful. The reason, they say, is that the technical work could not be completed. There are still bugs in some places. That’s why customers don’t get this facility even though they are supposed to get it starting Tuesday.
However, they hope that this service can be launched soon.
In this context, spokesperson and CEO of the Bank of Bangladesh. Sirajul Islam said:
“Due to some technical problems, it is not possible to carry out transactions between interbank and mobile banking.” “The process of introducing cross-transactions is being reviewed once again,” he said. He also said that it will not be possible to initiate transactions between mobile banking accounts and bank accounts until the review is complete.
In this regard, Bangladesh Bank said in a circular last Thursday (October 22) that only those banks and mobile banking institutions that have completed the transaction on a trial basis will now be able to provide this service. The rest received instructions in the circular to launch the service in March of next year.
Speaking to banks and mobile banking service providers, it emerged that four mobile banking companies were ready to launch the service. The four mobile banking service providers are Bikash from BRAC Bank, UCash from United Commercial Bank, MCash from Islami Bank, and e-Wallet from Al-Arafah Islami Bank. One of these mobile banking service providers was scheduled to launch the remittance service from Tuesday (October 26). Apart from this, the bank was also ready to transact with the account holders of this mobile banking service from the Pubali Bank account.
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