Mobile cash grows 17.48pc in Nov

Cash transactions in mobile banking rose 17.48 percent in November from the previous month, thanks to the growing popularity of the services, according to Bangladesh Bank.
The average daily transactions by mobile were Tk 322.48 crore in November, up from Tk 274.51 crore in October.
The number of subscribers grew 7.19 percent to 2.33 crore in November from the previous month.
The value of mobile banking transactions stood at Tk 9,674.46 crore in November, up from Tk 8,235.28 crore in October, according to central bank data.
It is observed that person to person money transfer, 'cash in' and 'cash out' are the most popular types of transactions.
The total number of agents providing such services across Bangladesh grew 0.43 percent to 5.19 lakh until November 30, the data shows.
As part of the government's financial inclusion programme, the central bank allowed 28 banks to provide mobile-banking; and 19 of them have so far launched the service.

There is a lot of enthusiasm with mobile banking, as the banking regulator is promoting commercial banks to develop the financial service.
Launched in 2011 by two private banks in the country, mobile banking services have now become popular. A customer can transfer money, receive salaries or pay bills from their accounts through mobile banking without visiting any bank branch.