Regulatory Alerts2015-04-27
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PSD Circular Letter No. 04: Temporary Reduction of MFS Transaction Limit
The document temporarily reduces the maximum transaction limit for all mobile financial services (MFS) in Bangladesh, including cash-in, cash-out, peer-to-peer, merchant payments, and mobile top-ups, to 1,000 BDT. This restriction applies from the date of receipt of the circular until April 28, 2015. MFS providers are advised to take necessary actions to implement this limit, after which the previous circular (No. 01/2013) will be reinstated.
Payment Systems Department Bangladesh Bank Head Office Dhaka. PSD Circular Letter No. 04/2015 Date: 27/04/2015 Regarding Temporary Reduction of Mobile Financial Services Transaction Limit.
In continuation of PSD Circular Letter No. 01/2013 dated September 01, 2013, it is informed that due to unavoidable reasons, the transaction limit for all Mobile Financial Services operating in Bangladesh regarding customer cash-in, cash-out, peer-to-peer (P2P), merchant payment, and mobile top-up transactions is hereby fixed at a maximum of 1,000/- (One Thousand) Taka from the time of receipt of this circular letter until April 28, 2015.
In this regard, it is advised that Mobile Financial Service providing banks/subsidiaries take necessary action in this regard.
After the aforementioned period, PSD Circular Letter No. 01/2013 will be reinstated as usual.
(K.M. Abdul Wadud) General Manager Phone: 88-02-9530174
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