Mobile banking clients cross 10m mark in Bangladesh

Thursday, November 14, 2013

Mobile banking customers have crossed 10m-mark for the first time in the country.

“The milestone has been achieved in just three years, contributing a lot to the financial inclusion initiative,” Bangladesh Bank said in a statement on Wednesday.

The mobile baking service, launched in the country in 2011 under the mobile financial service guidelines, provides the much needed financial access to the poor and unbanked population across the country.

Mobile banking customers grew nearly 12% per month to stand at more than 10.3m on November 11, which was 9.98m in the previous month. The average daily transaction in terms of value was more than Tk50bn in October.

Source: Dhaka Tribune (link opens in a new window)

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banking, financial inclusion, mobile finance