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Fintech (MFS)

The document discusses mobile financial services in Bangladesh, including major providers like BKash and Nagad, current usage statistics, the economic impacts of digitization during COVID-19, and regulations around anti-money laundering compliance. It also covers opportunities for small businesses to use mobile financial services and prospects as well as challenges for the industry.

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Rafsan Khondoker
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42 views5 pages

Fintech (MFS)

The document discusses mobile financial services in Bangladesh, including major providers like BKash and Nagad, current usage statistics, the economic impacts of digitization during COVID-19, and regulations around anti-money laundering compliance. It also covers opportunities for small businesses to use mobile financial services and prospects as well as challenges for the industry.

Uploaded by

Rafsan Khondoker
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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1.

What is mfs

2.Mobile financial services that are provided in Bangladesh


Money transaction services
Savings facility
Easy of payments
Remittance transfer service
Donation
Mobile recharge

3.Mobile financial services provider companies


BKash
SureCash
Nagad
Rocket
4.Current situation of mobile financial services
Active Customer

Market Share

market share

others
Rocket 3%
21% Bikash
Bikash
48% Nagad
Nagad Rocket
28%
others

The push to digitize Bangladesh during COVID-19

5.Mobile Financial Service (MFS) And Economic


Development
Economic Growth
transaction daily avg. transaction

70000

60000

50000

40000

30000

20000

10000

0
january february march april

Remittance sector

INWARD REMITTANCE
250
215.55

200 188.74

150

100

50 42.03
29.68

6.04
0
2018 2019 2020 2021 2022
6.Bank MFS deployment
BankAsia
BRAC Bank
DutchBanglaBank –
Trust Bank –

7.Future of Mobile financial Service


8.Regulations
easy and low-cost access to formal financial services
Ensure compliance with the Anti-Money Laundering
Permissible models for MFS providers:
Approval of the application, the commencement of business, operational modalities:
Suspension and cancellation of MFS providers by BB:
AML/CFT and KYC compliance:

9.Mobile financial services for small businesses


Potential of MFS for SMEs still not reached in Bangladesh
Recommendations for more adoption of MFS:
Simplify the registration
Introduce tiered KYC-based MFS accounts

10.Prospects and challenges


reduce cycle times
increase financial
activity

is not responsible for the wrong


number
fall victim to scams and
harassment and lose money to fraudsters
high transaction costs

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