Mobile financial services are already growing rapidly in Bangladesh. If operator interoperability and compliance are ensured, the cost of service is reduced and a level playing field is guaranteed, the industry will reach a new high.
The industry has become a one-stop-shop for all kinds of transactions, from sending and receiving money to paying utility, transportation, education, medical and retail bills. This innovation has accelerated financial inclusion.
The World Bank estimates that in 2017, 50% of adults had an account in their name with a full-service financial institution. This shows a 56% increase from 2011, according to a case study from the Alliance for Financial Inclusion (AFI), the world’s leading organization on financial inclusion policy and regulation, based in Kuala Lumpur. This increase is mainly due to the introduction and expansion of MFS since 2014. Government efforts to register SIM cards in 2015…
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- According to the source The future of mobile financial services in Bangladesh
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