Expats can send max Tk2.5lakh through MFS: BB

Bangladesh Bank (BB) has doubled the limit of sending remittances through mobile financial service (MFS) from the existing limit of Tk 1.25 lakh.

The Bangladesh Bank's Payment Systems Department (PSD) on Wednesday said in a circular that from now on expatriates can send a maximum of Tk 2.5 lakh to MFS accounts like bKash, Nagad or Rocket.

Incentives given by the government or banks will be credited separately to the MFS account.

Earlier, as per the December 2019 directive, remitters could send a maximum of Tk 1.25 lakh till now.

Currently, the maximum limit for deposits in MFS accounts is Tk 3 lakh.

The central bank circular stated that if the balance of an MFS account exceeds Tk 3 lakh after the remittance comes, no further amount can be added until it falls below the limit.

/KN/