News From Telecom World

Banks submit opinions on use of phone network for money transfer

Posted on: September 15, 2008

Commercial banks have submitted their opinions to the central bank for finalising draft guidelines on using mobile phone network for money transfer, officials said.

“We have submitted our opinions to the Bangladesh Bank (BB) Wednesday (10 Sept ‘08) welcoming the new initiative to transfer money using mobile phone networks,” Chairman of the Association of Bankers, Bangladesh (ABB) K Mahmood Sattar said.

He also strongly felt that the initiative should be bank-led, instead of telecom company-led.

On August 26 last, the central bank sought opinions from stakeholders including banks and Bangladesh Telecommunications Regulatory Commission (BTRC) on using mobile phone network for money transfer by September 10.

Source: Financial Express

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