Mobile banking to change the face of the economy

Mobile banking is gradually becoming more and more popular in our country as it is very user-friendly and we can use it at any time of the day.  Traditional banking is time-consuming and requires lot of formalities to be completed. On the other hand, national identity card, a photograph and one mobile phone are just enough to open a mobile account. We can send money, receive money, buy airtime for mobile and pay vendors through a mobile account. Our money is safe and secure and the account can be opened with a password set by the account holder. The way things are progressing, majority of our people are going to come under mobile banking network very soon.  Carrying and sending money have never been easy. I hope, mobile banking experts will introduce more products so that the system becomes more popular. There are reports that some criminals are using mobile banking for illegal transactions and the law-enforcement agencies have a vital role to play here. They need to be more alert so that the criminals are not able to use mobile account for illegal purposes and get away with it. I am sure, use of paper money will soon be occasional and as time goes by we shall be more dependent on digital money. It is not a far-fetched dream, I suppose.

Mohammed Sohel Hara

Bonoshree, Dhaka.

sohelhara@hotmail.com