Bangladesh Bank Rejects SohozCash’s MFS Application, Issues Public Warning
The Bangladesh Bank has rejected an application by SohozCash Limited to launch a Mobile Financial Services (MFS) operation and clarified that no such approval process is currently underway. In a public notification issued on Monday, 6 October, the central bank urged citizens to exercise caution and avoid engaging in any transactions or commitments with the entity.
The warning follows a job advertisement published in several national newspapers by SohozCash Limited, which claimed that the company was in a pre-operational phase and in the process of securing approval from Bangladesh Bank to operate MFS services.
The Bangladesh Bank statement clearly refuted this claim, stating:
“In fact, no application to launch MFS under the name SohozCash Limited has been received, nor is any such approval process under consideration.”
It further noted that the central bank has not granted any form of permission for SohozCash Limited to operate as an MFS provider. In the interest of public safety and financial integrity, the central bank issued a public alert urging people to refrain from making any transactions or promises involving the said company.
“The public is advised to remain cautious while dealing with SohozCash Limited, as no application for launching MFS under this name has been accepted or is under process,” the statement concluded.
This move is part of Bangladesh Bank’s ongoing efforts to safeguard the public from unregulated financial ventures and ensure that all mobile financial services operate under approved and licensed entities.
