Mobile financial services (MFS) and internet banking services had been restricted to prevent the misuse of funds during the 13th Jatiya Sangsad (national parliament) elections. The restrictions were imposed for four days.
As a result, customers of MFS providers such as bKash, Rocket and Nagad were unable to send more than Tk 1,000 per transaction.
These restrictions were lifted after midnight on Thursday, according to sources at Bangladesh Bank.
Bangladesh Bank had announced the restrictions on Sunday night, and they came into effect the same day. Many customers experienced difficulties in sending money as a result of the decision.
In its circular, the central bank had stated that the measures were taken to prevent the misuse of person-to-person (P2P) transactions through MFS and internet banking fund transfers (IBFT) under the National Payment Switch Bangladesh during the 13th Jatiya Sangsad (national parliament) elections.
Accordingly, from 12:00 am on Sunday until 11:59 pm on 12 February (a full 96 hours), the maximum amount per P2P transaction via MFS was capped at Tk 1,000, with a daily limit of 10 transactions. However, merchant payments and service bill payments continued under existing regulations without change.
In addition, all person-to-person transactions through internet banking services (via IBFT) had been completely suspended during the restriction period.