Stop running offensive campaigns against each other

Bangladesh Bank yesterday asked e-wallet or digital money service providers to refrain from creating propaganda against one another.

It has been found that some mobile financial service (MFS) providers, payment service providers and payment system operators have recently started derogatory campaigns against each other by way of publishing advertisements in newspapers, YouTube and other websites, Bangladesh Bank said in a circular.

In some cases, Fintech companies even attacked each other's clients through direct messages. They also distributed leaflets, put up posters and billboards, said the BB.

"One provider trying to tarnish the image of another is completely unexpected," the central bank said, asking the digital money service providers to prevent the use of aggressive words as per the provision of the National Broadcast Policy 2014.

The banking regulator issued the circular nearly two weeks after it summoned and rebuked the top officials of two leading MFS providers—Nagad and bKash—for introducing offensive campaigns against each other.

BB warned them verbally to not conduct such activities that would lose clients' confidence on the whole MFS sector.