Bangladesh Bank (BB) has re-fixed the Mobile Financial Services (MFS) Transaction limit. The central bank has re-fixed the daily money transfer from Mobile Financial Service (MFS) to a bank account at Tk 50,000 and withdraws the number of daily transaction time’s limit. The payment system department of BB on Tuesday issued a circular in this regard and sent it to the top executives of all banks and mobile financial service providers. The central bank has also fixed monthly such money transfer limits at Tk 30,0000. Read: Ensure 'no mask no service' policy in banks as Covid cases rising: BB The BB earlier on April 25 withdrew the number of daily transaction times and fixed the daily cash-out limit at Taka 25,000 from agent point while the monthly transaction limit is Taka 150,000. The cash-in limit remained unchanged at Tk 30,000 while the monthly limit was set at Tk 2,00,000,  the person to person (p2p) cash transfer limit set at TK 25,000 daily and Tk200,000 monthly. The MFS account can keep a maximum balance of Taka 300,000 in each account. The bank account to mobile financial service daily money transfer limit set at Taka 50,000 while monthly limit at Taka 300,000 also unchanged.

Mobile financial services (MFS) provider upay announced the appointment of Rezaul Hossain as its managing director and chief executive officer Sunday. Rezaul worked for local and multinational companies including, Grameenphone, Citycell, Airtel and bKash. Before joining upay, he was involved with several enterprises, including MFS provider Nagad. Also, Rezaul led the commercial division of bKash from 2011 to 2017 as the chief commercial officer. Read: No data charge for e-transactions on Upay app for Banglalink customers Anisuzzaman Chowdhury, chairman of the board of directors of UCB Fintech Company, said: "Rezaul Hossain is a highly accomplished business leader and brings a wealth of skills and experience that will take us to our strategic goal of becoming one of the leading mobile financial service companies in Bangladesh." "His exceptional telecommunications and MFS background along with a record of building and scaling up business from scratch to success will surely create a strong foothold for upay in the country's digital finance landscape." Rezaul said: "Despite being a new financial service brand, I believe, upay has a huge potential to disrupt the market. As I have a long vision for the advancement of the country's financial technology sector, I would like to dedicate my experience, expertise and industry knowledge to help upay grow and reach its full potential through bringing delightful experiences to our customers." UCB Fintech Company, a subsidiary of United Commercial Bank, has been offering mobile financial services under the brand name upay. Upay launched its commercial operation in March 2021 after securing its MFS licence from the Bangladesh Bank in December 2020.

As per 2020 Campus Track Survey, bKash, the largest MFS provider in the country, has emerged as the number one ‘Employer of Choice’ among 53 multinational and local companies of all sectors.

At a time when the entire country is struggling to tackle Covid-19, some dishonest people took their fraudulent activities to a new level exploiting the crisis.