The Bangladesh Bank on Thursday raised transaction limits for mobile financial services such as bKash, Rocket and Nagad, allowing customers to conduct larger transactions and maintain higher account balances.
The central bank issued a circular in this regard on the day.
The Bangladesh Bank made this decision as transaction volumes have significantly increased ahead of Eid-ul-Fitr, on the biggest religious festivals of the Muslims to be held at the end of March subject to moon-sighting.
Under the revised policy, MFS users can now deposit, withdraw and transfer more funds both daily and monthly.
The maximum account balance has been increased to Tk 5 lakh from Tk 3 lakh and restrictions on the number of transactions have been lifted.
However, MFS providers retain the discretion to impose lower limits based on their internal policies.
For cash deposits via agents, the daily limit has been raised to Tk 50,000 from Tk 30,000, while the monthly cap has been increased to Tk 3 lakh from Tk 2 lakh.
Similarly, cash withdrawals through agents now have a daily limit of Tk 30,000, up from Tk 25,000, and a monthly limit of Tk 2 lakh, compared with that of the previous Tk 1.5 lakh.
Transaction caps for bank accounts and cards remain unchanged at Tk 50,000 a day and Tk 3 lakh a month.
However, person-to-person (P2P) transfers have been significantly expanded, with the daily limit doubling from Tk 25,000 to Tk 50,000 and the monthly limit rising from Tk 2 lakh to Tk 3 lakh.
Currently, 13 MFS providers operate in the country, while Nagad continues to function under temporary approval from the central bank.
Total MFS transactions surged to Tk 1,71,664 crore in January, up from Tk 1,64,739 crore in December 2024.