BB doubles limit for sending remittances thru MFS

Bangladesh Bank (BB) has doubled the limit of sending remittances through mobile financial service (MFS) from the existing limit of Tk 0.125 million, reports BSS.
The Bangladesh Bank's Payment Systems Department (PSD) Wednesday said in a circular that from now on expatriates can send a maximum of Tk 0.25 million 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 0.125 million till now.
Currently, the maximum limit for deposits in MFS accounts is Tk3 lakh.
The central bank circular stated that if the balance of an MFS account exceeds Tk 0.3 million after the remittance comes, no further amount can be added until it falls below the limit.