Monthly transactions through mobile banking in Bangladesh surpassed all previous records, reaching a staggering Tk 156,787 crore in November 2024. This marks a 31% increase compared to the same period in 2023.
Previously, the highest monthly transaction was Tk 153,758 crore, recorded in March 2024. The new record set in November reflects an average daily transaction of Tk 5,226 crore.
According to updated data from the Bangladesh Bank, November saw cash deposits (cash-in) of Tk 44,957 crore and cash withdrawals (cash-out) of Tk 50,530 crore. Additionally, Tk 2,841 crore was paid in utility bills, Tk 4,632 crore in salaries and wages, Tk 7,775 crore in merchant payments, and Tk 1,077 crore was received as remittances via mobile banking.
Mobile Financial Services (MFS) continue to serve as a crucial platform for instant financial transactions, especially in rural areas. Beyond money transfers, MFS now offers diverse services, including payment of utility bills, shopping bills, salary disbursement, and receiving remittances. The popularity of this platform is steadily increasing.
Currently, 13 MFS providers, including bKash, Rocket, and Nagad, operate in the country, with a total of 23.73 crore registered accounts as of November 2024. This represents an increase of 16 lakh accounts from the previous month’s total of 23.57 crore. In contrast, during July 2024, the number of registered accounts stood at 23.31 crore.
