The central bank has asked the banks providing mobile financial services (MFS) to complete the registration or re-registration of their clients' SIMs within the next six months, officials said.
The Bangladesh Bank (BB) has taken the latest move to check information about mobile bank accountholders on NIDs (national identity card) and SIMs (subscriber identification module) with their KYC (Know Your Customer) data.
"We've taken the move to ensure the accuracy of mobile bank accountholder's information between NID and KYC to check money laundering and terrorist financing activities by using MFS," a BB senior official told the FE.
He said it will also help check fraudulent activities by using fake mobile banking accounts.
"No mobile banking account can be opened without complying with KYC rules properly," the central banker noted.
The central bank issued a directive in this connection Sunday and asked the managing directors of all MFS providers to comply with the latest instructions relating to information on SIMs and NIDs of the mobile bank accountholders properly.
The MFS providers have also been asked to preserve the copies of the registration or re-registration they collect from their agents, according to the circular.
The BB also advised the MFS providers to take necessary measures for building awareness among the mobile bank accountholders in this connection.
"We've also asked the MFS providers to preserve the photos of mobile bank accountholders who cash in or cash out money amounting to Tk 5,000 or above through agents to combat financial crimes," he explained.
The BB has already permitted 28 commercial banks to run their mobile banking business across the country.
Of them, 19 commercial banks have already started mobile banking by using mobile phone network, according to the BB official.
Under the existing guidelines, the country's bank-led model will offer an alternative to conventional branch-based banking to un-banked population through appointed agents facilitated by the Mobile Phone Network Operators (MNOs) or solution providers.
The banks and its partners will have to comply with the existing Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)-related laws, regulations and guidelines issued by the central bank from time to time, according to the guidelines.
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