Number of active mobile banking accounts decreasing

As the way of money transaction through mobile banking is easier comparing to the conventional banking process, the number of mobile banking subscribers in Bangladesh has noticeably increased over the past years in Bangladesh. But most of the subscribers are not involved in transaction and which is why the numbers of inactive subscribers have been increasing, an updated report of the Mobile Financial Services of Bangladesh Bank said.

As of October, there are 7 crore 73 lakh and 95 thousands subscribers of mobile banking in Bangladesh. Among them, only 2 crore 90 lakh and 11 thousand are active subscribers. The remaining 4 crore 83 lakh and 83 thousand subscribers are totally inactive.

The report said that 63 percent mobile subscribers are inactive. BB report said 14 lakh and 17 thousand new subscribers were added within a month. In September, there were 7 crore 59 lakh and 78 thousand subscribers of mobile banking system.
Currently there are 16 banks who are involved in providing mobile financial services. Though the numbers of subscribers are increasing, the numbers of inactive clients are being decreased remarkably.

Those who do not involved in any single transaction in last three months, are regarded as inactive subscribers. As per the method, there are only 2 crore 90 lakh and 11 thousand active clients till September last which is only 37 percent of the whole registered subscribers.

In September, there were 3 crore 43 lakh and 89 active subscribers. In October, transaction of some 73 lakh 30 thousand 541 took place through MFS. Tk 218 crore 15 lakh were transacted per day. Currently, there are 9 lakh 54 thousand 290 mobile banking agents. Every day, new business enterprises are getting involved with mobile banking system. Electricity bills, gas bill, water bill, purchasing, even paying monthly salary can be paid with mobile banking system. Some vendors are providing services for sending foreign remittance through mobile banking.