Dhaka, Sunday

03 March 2024

Business Insider Bangladesh

BB doubles limit for sending remittances thru MFS

BI Desk || BusinessInsider

Published: 22:54, 6 December 2023  
BB doubles limit for sending remittances thru MFS

Representational photo

Bangladesh Bank (BB) has doubled the limit of sending remittances through mobile financial service (MFS) from the existing limit of Tk 1.25lakh.

The Bangladesh Bank's Payment Systems Department (PSD) today said in a circular that from now on expatriates can send a maximum of Taka 2.5 lakh to MFS accounts like bKash, Nagad or Rocket.

Incentives given by the government or banks will be credited separately to the MFS account.

Earlier, as per the December 2019 directive, remitters could send a maximum of Taka 1.25 lakh till now.

Currently, the maximum limit for deposits in MFS accounts is Tk3 lakh.

The central bank circular stated that if the balance of an MFS account exceeds Tk3 lakh after the remittance comes, no further amount can be added until it falls below the limit, reports BSS.