Mobile banking transactions in Bangladesh reached a record high in December, 2024 with a total volume of transfer at Tk 1,64,740 crore.
This marks the highest monthly transaction amount in the history of mobile financial services (MFS) in the country, as per the latest report by Bangladesh Bank.
In 2024, mobile banking transactions totalled Tk 17,37,000 crore, reflecting a 28.42% increase compared to 2023. The total transactions in 2023 stood at Tk 13,53,000 crore, indicating an increase of Tk 3,84,000 crore year-on-year.
The surge in mobile banking usage is attributed to the convenience it offers in salary disbursement, remittances, and utility bill payments, making it a popular financial tool across both urban and rural areas.
Bangladesh Bank's report highlights a consistent growth in MFS transactions throughout the year. The monthly transaction values from July to December 2024 are as follows:
July: Tk 1,22,000 crore, August: Tk 1,37,000 crore, September: Tk 1,45,000 crore, October: Tk 1,54,000 crore, November: Tk 1,56,000 crore, December: Tk 1,64,740 crore
Alongside transaction growth, the number of MFS accounts also increased significantly. By the end of December 2024, the total number of MFS accounts reached 23.86 crore, compared to 22.04 crore in December 2023.
This represents a year-on-year increase of 1.82 crore accounts.
Currently, 13 MFS firms operate in Bangladesh, facilitating seamless digital transactions and contributing to the country's growing financial inclusion.
The upward trend in mobile banking transactions reflects the increasing reliance on digital financial services in everyday life, indicating further expansion in the coming years, experts said.
