MFS, Internet Banking Restrictions Lifted After Election

To prevent the misuse of money during the 13th National Parliamentary Election, mobile financial services (MFS) and internet banking services were restricted for four days. As a result, customers of MFS providers such as bKash, Rocket, and Nagad were unable to send more than Tk 1,000 per transaction. The restriction caused inconvenience for many customers while transferring funds.

The restrictions were lifted after 12:00 am on February 12, according to sources from Bangladesh Bank.

Earlier, on the night of February 8, Bangladesh Bank had announced limitations on MFS and online transaction services.

Under the directive issued by Bangladesh Bank, person-to-person (P2P) transactions were capped at a maximum of Tk 1,000 per transaction, with a daily limit of 10 transactions. However, merchant payments and utility bill payments were allowed to continue under existing regulations without interruption. All other types of transactions through MFS were temporarily suspended during the restriction period.

In connection with the election, each mobile financial service provider was instructed to form a special “Quick Response Cell” to receive and immediately address complaints related to MFS transactions.

Additionally, all types of transactions were placed under close monitoring during the specified period. Institutions were directed to promptly report any suspicious or unusual transactions to the relevant police station. During this time, P2P internet banking transactions, including those conducted through IBFT (Inter-Bank Fund Transfer), were completely suspended.

Bangladesh Bank had stated that MFS providers and banks would extend necessary cooperation in line with the requirements of the Election Commission and law enforcement agencies. Once the specified period ended, normal transaction activities would resume. In accordance with that directive, MFS agents resumed regular operations from the morning of February 13.

DBTech/JNU/EK/OR