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Cash Assistance to 50 Lakh Families

BB asks MFS to provide uninterrupted service

Published : Friday, 15 May, 2020 at 12:00 AM  Count : 219
Business Correspondent

Bangladesh Bank (BB) has asked all mobile financial service (MFS) providers to keep their own systems, distribution and agent channels functional to ensure enough cash at all agent points to provide cash assistance.
The central bank in this regard issued a circular on Thursday to all scheduled commercial banks and MFS providers saying one-time cash assistance announced by the government must be easily be provided to distressed families.
The BB instructed MFS providers to take necessary steps to open mobile financial service accounts by verifying national identity cards as per the list of beneficiaries prepared by the Finance Ministry.
Every family will receive an amount of Tk2500 from the declared amount of money.
Prime Minister Sheikh Hasina inaugurated the disbursement of Tk12.5 billion in cash assistance through a video conference at her official
    residence Ganabhaban for five million poor families hit hard by the ongoing Covid-19 crisis on Thursday.
The same day the Finance Division released Tk12.57 billion for cash assistance. Of which, Tk6.27 billion was disbursed from the budget wing 1 of the Prime Minister's Office (PMO) while the rest Tk6.3 billion was disbursed from the budget wing 3.
The fund will be distributed through MFSs such as bKash, Rocket, Nagad, and SureCash.
The PMO is supervising the operations of this initiative.












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