5:18 pm - Thursday June 14, 8210

Mobile banking users cross 10m mark

Mobile banking users in the country crossed 10 (one crore) million mark from 0.5 million in April this year.

mobile bankiongAccording to Bangladesh Bank (BB), the number of mobile banking accounts stood at 10.235 million (1 crore 2 lakh 35 thousand) on November 11 with more than 100 percent rise in seven months.

“The phenomenal rise in mobile banking would play significant role in financial inclusion,” the central bank in a press release said Wednesday.

Introduced in 2010, mobile banking has become a major tool of many banks to take their services to people’s doorsteps.

The central bank allowed 28 banks to provide their clients with mobile financial services including money transfer, deposit and withdrawal, payment of salaries, utility bills and merchant payments. So far, 19 banks launched the services.

With an average 11.79 percent monthly rise in users, transactions through mobile banking stood at Taka 50.96 billion (5096 crore) in October when average daily transaction was taka 1.7 billion (170 crore).