MFS providers charge fees at their whim
Sohel Hossain Patwary and Jannatul Islam
27th December, 2020 09:42:03
Mobile financial services (MFS) providers are charging customers at their whim as there is no policy guideline on uniformity of charges, creating an unhealthy competition in the market.
Despite the huge popularity of mobile financial services over the last decade, different MFS providers are still charging customers at different rates.
Of the current 15 service providers, customers are being charged up to Tk 18.50 to lowest Tk 9.99 for Tk 1000 cash-out, making the customers unhappy from the very beginning.
The regulatory body cannot control market price in financial services for the dynamics of service systems, said a top official of Bangladesh Bank preferring anonymity.