MFS sees whopping growth

Mobile Financial Services (MFS) witnessed strong growth in last year reaching customer base around 13.18 million.
Person to person money transfer- 'Cash in' and 'Cash out'- are the most popular types of transactions through mobile banking according to the data of the Bangladesh Bank (BB).
In terms of amount transacted, the growth was 186 per cent, and the growth of customers was 262 per cent in the previous year.
A release of the Bangladesh Bank issued on Sunday said MFS have shown significant growth in all respects in 2013.
At the beginning of the year 2013 total number of agents was 59,559 and at the end of the year the number has become 1,88,647.
The number of MFS customer was just 5 million in April 2013 and the number crossed the milestone of 10 million in November 2013. In December 2013, it has reached at 13.18 million, which demonstrates the growing popularity of the service.
In January, 2013 total number of transactions and total amount transacted was 95,74,382 and Tk 23.20 billion respectively. At the end of the year total number of transactions and total amount transacted stood at 3,13,62,895 and Tk 66.42 billion respectively.