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Friday, October 21, 2016


Mobile financial service is being essential banking for the people. Now it is playing a vital role in Bangladesh

Mobile financing services are very popular in Bangladesh. It is basically made up of unbank people but this service has taken place in all kinds of people. There is no hazard in this service and it is 24 hours service any time anywhere. Mobile banking started in Bangladesh by the two Banks: Dutch-Bangla Bank and Brac Bank lead bash. Later some other banks being involved in mobile financing by different names like -Sure cash, M-pay, Easy Cash, etc. Actually Mobile money transfer first started in Bangladesh by the Post office in 2010. Very fast it was gained popularity of the people and Post Office regained its essential to the people by the dents of mobile money transfer. People received this service spontaneously and Post Offices was being crowded by the massive customer again. As Bangladesh is a developing and overpopulated country, so its people need to fastest money transfer service for their economy. There was no available online Banking service before mobile fund transfer. People have to depend on TT, Courier service, money order, hand to hand service, brokers, etc. So in this situation introducing fund transfer by mobile being popularity very fast. It could meet the necessity of the people unprecedentedly. After the starting of Mobile base Banking service or Mobile Banking decreased the essentially of the Post office base fund transfer. This kind of banking or fund transfer service took place in the mind of mass people very fast. Mobile money transfer is now a common service to the people and popular service as well. Mobile banking directed by the agents. Agents ( Shops) services are now available all over the country. Mobile financial service is described below:

* Send money (p2p)
* Top up ( mobile recharge )
* Cash in
*Cash out
* Bill pay
* Merchant pay
*Statement
*Balance inquires
* Remittance
* ATM withdrew
* Bill pay ( utility bill, admission fee, tuition fee, etc.
* Collection ( company's daily sales collection )
* Salary disbursement.


Daily transactions of mobile banking are reached in the Mountain. A few days ago  it  was seen a statistic of Bangladesh Bank that daily transaction by Mobile Banking is 300 crore taka. Which most of the transaction performed by bKash and Rocket. Mobile Bank has crossed all records of transactions in Bangladesh. The transaction is performed mostly at agent points. Besides Banking Chanel of mobile Banking also perform a big amount. Mobile Banking creates a great job opportunity. There are involved a huge number of agents working on this side. They are earned enough money from their agent business. Another job opportunity has created  at the distribution Chanel. Agents are directed by the distribution house. In every district has one or more distribution house as Banks need. Distribution is supplied money among the agents by their own worker named DSR. By dent of mobile banking have created job opportunity for many DSR( direct sales representative). Besides Banks have appointed their own employees in different sector of Mobile banking . So it has created a big job Bazar which have a good impact on Bangladesh 

To understand why financial inclusion is important? For this, we need to go beyond this service. Earlier people working in different cities or places especially in Dhaka city they sent their earning to their family by broker or other difficult ways. That was very expensive, timely, and sometimes uncertain. But mobile money has to change the acute scenario of people. The system of mobile financial services has transformed the life of micro workers in Bangladesh. People are deposited their earning in their own mobile account, they send money independently, they can saving money for their future needs. It is a tremendous Banking.

Logo of major mobile financial services 


Mobile banking in Bangladesh