Bangladesh Mobile Financial Services (MFS) Regulations, 2022

Circular No – 04/2022

Bangladesh Bank has issued Mobile Financial Services (MFS) Regulation, 2022, replacing the old MFS Regulations issued earlier in 2018 and its subsequent amendments.

The purposes of these Regulations are to:

– Provide a regulatory framework to create an enabling and competitive environment to cater to cost-efficient and prompt MFS;

– Promote convenient access to formal financial services at an affordable cost especially for the poor and unbanked population segments; and

– Ensure compliance with Anti Money Laundering and Combating Financing of Terrorism (AML/CFT) standards set by AML/CFT rules, regulations, guidelines and instructions issued by Bangladesh Financial Intelligence Unit (BFIU).

The new regulations shall come into effect immediately, from the date of the release of this circular.