Amu urges all to sustain pace of growth in MFS sector

Panel discussion held on ‘revolution’ in mobile financial services

Industry minister Amir Hossain Amu has urged all to collaborate to ensure full transparency in every transaction so that the growth trend in the mobile financial services (MFS) industry in the country and the pace of economic development are maintained. The minister observed that more than a third of the country’s population has already come under this unique service and the industry is gaining popularity day by day for its quick, secure and low-cost payment services. Like bKash, the service is now used by millions in Bangladesh.

He was addressing a discussion at the National Press Club held on Thursday as the chief guest to mark World Consumers Day, 2018, organised by the Bangladesh Journalists’ Foundation for Consumers and Investors (BJFCI). Iqbal Sobhan Chowdury, adviser to Prime Minister Sheikh Hasina and Editor of The Daily Observer, and Dr Shahadat Khan, chief executive officer (CEO) of Sure Cash, addressed the function as special guests.

BJFCI chairman and Economic Editor of The Daily Observer presented the keynote of the discussion, titled ‘MFS Revolution and Consumer Rights Protection: Are we heading in the right direction?’

Dr Lila Rashid, general manager, Bangladesh Bank, Khondoker Shakhawat Ali, chief executive of Knowledge Alliance, and Maj. Gen. (retd) Sheikh Md Monirul Islam, chief external and corporate affairs officer of bKash Limited, were among the panellists.

In his paper, Faruk Ahmed said mobile financial services (MFS) had added multidimensional effects to the material culture of financial inclusion, the most efficient frontier of the decade-long battle against poverty. International investors are looking at such areas to invest in, which is very urgent for Bangladesh to reach its growth target and make the dream of Digital Bangladesh real.

The unbanked population comprising 85 per cent adults of Bangladesh have lovingly embraced MFS as a unique platform for easy and quick payment methods through their mobile devices. Such lower costs have given them greater disposable incomes, and they—even those working in the informal economy—now have a secure way to store cash. Most poor people see MFS as a game-changer for them.

Amu urges all to sustain pace of growth in MFS sector

Panel discussion held on revolution in mobile financial services

Industry minister Amir Hossain Amu has urged all to collaborate to ensure full transparency in every transaction so that the growth trend in the mobile financial services (MFS) industry in the country and the pace of economic development are maintained. The minister observed that more than a third of the countrys population has already come under this unique service and the industry is gaining popularity day by day for its quick, secure and low-cost payment services. Like bKash, the service is now used by millions in Bangladesh. He was addressing a discussion at the National Press Club held on Thursday as the chief guest to mark World Consumers Day, 2018, organised by the Bangladesh Journalists Foundation for Consumers and Investors (BJFCI). Iqbal Sobhan Chowdury, adviser to Prime Minister Sheikh Hasina and Editor of The Daily Observer, and Dr Shahadat Khan, chief executive officer (CEO) of Sure Cash, addressed the function as special guests. BJFCI chairman and Economic Editor of The Daily Observer presented the keynote of the discussion, titled MFS Revolution and Consumer Rights Protection: Are we heading in the right direction? Dr Lila Rashid, general manager, Bangladesh Bank, Khondoker Shakhawat Ali, chief executive of Knowledge Alliance, and Maj. Gen. (retd) Sheikh Md Monirul Islam, chief external and corporate affairs officer of bKash Limited, were among the panellists. In his paper, Faruk Ahmed said mobile financial services (MFS) had added multidimensional effects to the material culture of financial inclusion, the most efficient frontier of the decade-long battle against poverty. International investors are looking at such areas to invest in, which is very urgent for Bangladesh to reach its growth target and make the dream of Digital Bangladesh real. The unbanked population comprising 85 per cent adults of Bangladesh have lovingly embraced MFS as a unique platform for easy and quick payment methods through their mobile devices. Such lower costs have given them greater disposable incomes, and theyeven those working in the informal economynow have a secure way to store cash. Most poor people see MFS as a game-changer for them.