Value of mobile money transactions in Bangladesh jumps 54% - Mobile World Live

Value of mobile money transactions in Bangladesh jumps 54%

06 APR 2016

The value of financial transactions via mobile phones in Bangladesh expanded 54 per cent over the past year to BDT5.4 billion ($66 million) per day in December, according to Bangladesh Bank.

A report from the central bank showed that the value of mobile transactions reached BDT161 billion in December, up from BDT105 billion the previous December, The Independent reported.

The number of accounts for mobile financial services increased 26 per cent last year to 31.8 million, with 13.2 million of those active, the bank said.

The central bank set the transaction limit on mobile financial services at BDT10,000 per day and BDT25,000 per month.

Global footprint
Worldwide mobile money accounts increased 31 per cent to 411 million last year, with 134 million accounts active, according to GSMA. The average number of daily mobile money transactions hit 33 million in 2015.

Mobile money is available in 93 countries or 85 per cent of the nations where the vast majority of the population lacks access to a formal financial institution. At least 19 markets have more mobile money accounts than bank accounts. The GSMA estimates that two billion people in lower- to middle-income countries are unbanked.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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