Bangladesh Bank (BB) has given an opportunity to the youth aged 14-18 to open mobile financial accounts without National Identity Card (NID).

The Department of Payment Systems of the central bank issued a circular in this regard on Tuesday and sent it to the mobile financial service providers for immediate execution.

The circular said youth between 14-18 years can open MFS accounts without their own NID through a guarantee of parents.

However, both the person interested in opening account and the parent must be citizens of Bangladesh.

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While opening the MFS account of the youth , the parent/guardian must provide his/her national identity card number and the birth certificate of intending youth. The parent's MFS account shall be compulsorily used as a linked MFS account for account opening.

This account should be opened by confirming the authenticity of the MFS account of the parents or guardians.

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The MFS account should be opened with the consent of the parent or legal guardian. As part of the parental consent process for account opening, they must send OTP to their mobile phone.

Besides, in case of transactions in these accounts, it should be ensured that the messages are sent to the account holder's mobile phone number. At the same time, the transaction information should be reported to the parents.

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