Regulatory Alerts2022-02-15
Added
Bangladesh Mobile Financial Services (MFS) Regulations, 2022
The regulations replace the 2018 rules and restrict MFS operations in Bangladesh to models led by scheduled commercial banks, financial institutions, or government entities holding at least 51% equity and board control. New providers must establish a subsidiary with a minimum paid-up capital of 45 Crore BDT and build a capital reserve equal to the paid-up capital from retained earnings. Existing providers may continue under their current structure or restructure into a subsidiary, while all providers are prohibited from taking deposits or lending from their own funds and must maintain e-money balances against cash and government securities.