MFS transactions slump in June

Month-on-month transactions through the mobile financial service platform fell by 11 per cent in June.

However, this drop is expected after the month of Eid-ul-Fitr, which was held in May this year, said industry insiders.

The total monthly transaction through the country’s MFS providers stood at Tk 62,993.93 crore in June, which was Tk 71,246.88 crore in the previous month, as per the latest data from the Bangladesh Bank.

In June, the number of total transactions also fell by 7.8 per cent to 31,98,20,772 and average daily transaction fell by 8.6 per cent to Tk 2099.80 crore, as per the BB data.

Central bank data showed that inward remittance through the platform fell by 29.2 per cent to Tk 176.98 crore.