Transactions through mobile financial services in Bangladesh may exceed Tk 25 lakh crore in 2025, Bangladesh Bank governor Ahsan H Mansur said on Tuesday.
He noted that the current annual transaction volume through MFS stood at Tk 17 lakh crore and with the growing adoption of digital transactions, it was expected to surpass Tk 25 lakh crore.
Speaking at an event at Sonargaon Hotel in Dhaka, Mansur emphasised the rapid expansion of digital financial services.
The Bangladesh Bank has recently upgraded the Real-Time Gross Settlement (RTGS) system, which was first launched in 2015.
The updated RTGS now allows transactions seven days a week and includes features such as dual-party transaction messaging, multi-currency support and improved record-keeping.
These enhancements aim to streamline large-value interbank transactions, ensuring faster and more efficient settlements.
He highlighted the way digital transactions had transformed the financial landscape and stressed the importance of continuous system upgrades to maintain efficiency and security.
The RTGS system facilitates real-time, secure and instant settlements of large-value payments between banks.
Unlike traditional methods, real-time processing ensures that transactions are completed immediately without delays.
Mansur also revealed that the Bangladesh Bank was working on launching a mobile interoperability platform to further boost digital transactions.
This platform will enable seamless fund transfers between different mobile financial service providers and bank accounts, expanding financial accessibility and convenience.
Khairul Anam, additional director of the Bangladesh Bank鈥檚 Payment Systems Department, stated that 84 per cent of all banking transactions were now digital, with 56 per cent processed through various digital platforms and 28 per cent via MFS.
Among the digital transactions, 69 per cent occur through RTGS, while 11.92 per cent are processed via electronic funds transfer or EFT.
He also mentioned that the RTGS currently supported transactions in seven currencies, including the taka, US dollar and British pound.
Currently, 11,620 bank and financial institution branches are connected to the RTGS, facilitating on average 48,410 transactions daily, with daily transaction volume of Tk 22,977 crore.
Ali Reza Iftekhar, managing director of Eastern Bank, highlighted the RTGS鈥檚 role in making transactions faster, cost-effective and more secure.
However, he cautioned, as financial services become more digitised, the risk of cyber threats will also increase.
He stressed the need for continuous system upgrades and stronger security measures to protect against potential cyber-attacks.
