Mohammad Badrul Ahsan :
Daily transactions via mobile phone declined significantly in July from the previous month despite increase of agents for money transfer and registered accounts, latest data released by the central bank showed.
Bangladesh Bank (BB) data showed that the daily transactions via mobile phone declined 23.81 percent to Tk 587.99 crore on average in July from a month earlier.
Total transactions stood at Tk 17,639.63 crore in July, down from Tk 23,151.24 crore in June, the BB data said.
Traditionally, people make more transaction prior to Eid-ul-Fitr and that is why the volume was high in June, industry insiders said.
“I think such a decline is not alarming although it seems quite high,” said Abul Kashem Md Shirin, Deputy Managing Director of Dutch-Bangla Bank.
The industry’s average transaction is Tk 600 crore a day at present and it is growing at around 5 percent every month, he said.
“June was a dream month for the industry and we need some more time to reach that level in every month.”
Dutch-Bangla Bank is the second largest player in mobile money transactions in the country, holding a 9 percent market share while bKash is the market leader, with a 90 percent share.
Mobile financial service providers also gave different offers before Eid-ul-Fitr, like cash back and discounts, which also helped boost the market then, insiders said.
The average daily transactions crossed the Tk 600-crore mark in March and the trend continued in the next four months.
All transactions declined in July compared to June — even bill payments, salary disbursement and sales of mobiles.
Salary disbursements declined 72.51 percent to Tk 120.24 crore in July compared to the previous month. The volume of bill payments was Tk 228.37 crore in June, which slid to Tk 174.54 crore in July.
However, the number of agents for mobile money transfer increased by 8,733 to 6.13 lakh and the number of registered accounts rose by 3.75 lakh to 3.66 crore in July, the central bank’s report shows.
Mobile financial services were launched in 2009 and the central bank has so far awarded 29 licences. However, there are 24 approved licences and 18 are in service.
Daily transactions via mobile phone declined significantly in July from the previous month despite increase of agents for money transfer and registered accounts, latest data released by the central bank showed.
Bangladesh Bank (BB) data showed that the daily transactions via mobile phone declined 23.81 percent to Tk 587.99 crore on average in July from a month earlier.
Total transactions stood at Tk 17,639.63 crore in July, down from Tk 23,151.24 crore in June, the BB data said.
Traditionally, people make more transaction prior to Eid-ul-Fitr and that is why the volume was high in June, industry insiders said.
“I think such a decline is not alarming although it seems quite high,” said Abul Kashem Md Shirin, Deputy Managing Director of Dutch-Bangla Bank.
The industry’s average transaction is Tk 600 crore a day at present and it is growing at around 5 percent every month, he said.
“June was a dream month for the industry and we need some more time to reach that level in every month.”
Dutch-Bangla Bank is the second largest player in mobile money transactions in the country, holding a 9 percent market share while bKash is the market leader, with a 90 percent share.
Mobile financial service providers also gave different offers before Eid-ul-Fitr, like cash back and discounts, which also helped boost the market then, insiders said.
The average daily transactions crossed the Tk 600-crore mark in March and the trend continued in the next four months.
All transactions declined in July compared to June — even bill payments, salary disbursement and sales of mobiles.
Salary disbursements declined 72.51 percent to Tk 120.24 crore in July compared to the previous month. The volume of bill payments was Tk 228.37 crore in June, which slid to Tk 174.54 crore in July.
However, the number of agents for mobile money transfer increased by 8,733 to 6.13 lakh and the number of registered accounts rose by 3.75 lakh to 3.66 crore in July, the central bank’s report shows.
Mobile financial services were launched in 2009 and the central bank has so far awarded 29 licences. However, there are 24 approved licences and 18 are in service.
