The closing ceremony of 10th anniversary of Mobile Financial Service (MFS) was held in Dhaka with the hope of making daily financial transactions of millions easier, safer, instant and further expanding financial inclusion.
The MFS sector, which has more than 110 million subscribers, is celebrating a decade’s journey of success with the slogan ‘Financial services at hand’s reach’.
Dr. Dipu Moni, MP, Minister of Education of Bangladesh was present as the chief guest of the closing ceremony at a hotel in the capital on Saturday. Nuruzzaman Ahmed, MP, Honorable Minister of Ministry of Social Welfare was present as the special guest and Fazle Kabir, Governor of Bangladesh Bank was present as guest of honor.
Greetings from His Excellency the President and Honorable Prime Minister of Bangladesh were read out on the occasion of the 10th anniversary of MFS. The Minister of Planning Ministry and the Minister of State for ICT also shared their greetings via video messages.
Abul Kashem Md. Shirin, Managing Director and CEO of Dutch Bangla Bank and Kamal Quadir, Chief Executive Officer of bKash, outlined the journey of MFS that has become a part of millions’ lives in a decade and also shared plans for the future.
bKash, Rocket, MCash, Upay, Tap, MYCash, TeleCash, Tap N Pay, FSIBL, Rupali Bank Limited, OK Wallet, Islamic Wallet and Nagad have sponsored MFS fairs, discussions and cultural events across the country to celebrate the 10th anniversary.
The chief guest of the occasion, Education Minister Dr. Dipu Moni, MP, said, “Due to the benefit of MFS, we can send digital money to our loved ones or the people in need by pressing a few buttons, whenever needed. From shopping to bill payments, almost all services are now at the fingertips of the common people – rural or urban, educated or underprivileged, rich or poor. This is the achievement of the last ten years of mobile financial services. I wholeheartedly thank the MFS providers for making daily transactions this much easy for millions of people.”
The special guest on the occasion, honorable Social Welfare Minister Nuruzzaman Ahmed, MP, said, “Along with the conventional banking system, mobile phone and app-based systems have expanded the field of service delivery to the doorsteps of millions. People can now avail variety of services including disbursements of social security programs through MFS. The various types of allowances of the Ministry of Social Welfare are now reaching the MFS accounts of the beneficiaries directly. I hope that MFS providers will further enhance the living standards of the people and contribute to the overall development of the country by ensuring easy, affordable and uninterrupted financial transactions.”
The guest of honor of the occasion, Governor of Bangladesh Bank Fazle Kabir, said, “I really applaud the role the MFS providers have played for not only introducing services but also for enhancing financial literacy among people. I am thanking all the stakeholders of this sector from the core of my heart who have helped us achieve the goal of financial inclusion.”
In the first phase of the concluding ceremony, a panel discussion was held with the concerned stakeholders including Central Bank, MFS Institution, economists and researchers. Ahmed Jamal, Deputy Governor of Bangladesh Bank was present at the occasion as the chief guest. In this episode, Md Mezbaul Haque, General Manager of Payment Systems Department of Bangladesh Bank discussed on MFS from the perspective of MFS regulatory body and Mohammed Monirul Moula, Managing Director and CEO of Islami Bank discussed from the perspective of MFS service providers.
Noteworthy, MFS fairs were held in Chattogram, Mymensingh, Rangpur, Khulna, Barishal, Sylhet, Bogra and Rajshahi starting on March 3. The closing ceremony of MFS fair was held on March 10 at Shilpakala Academy in Dhaka. Awareness related puppet show, Gambhira, Stage Drama were organized with the presence of Central Bank, MFS providers, customers, agents, merchants and general public.
A decade ago, the path of mobile financial services in Bangladesh was widened by the directive and determination of the Prime Minister. As part of the government’s Digital Bangladesh vision, mobile-based financial transaction services were launched in 2011 to bring people out of banking services or under limited banking services into financial inclusion. MFS is now a part of the daily financial transactions of the people of the country in just ten years with the initiative of the service providers and under the close supervision and guidance of Bangladesh Bank.
