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IFIC Bank introduces mobile banking

IFIC Bank of Bangladesh has become the 20th bank to launch mobile banking services in the country. Of the 28 banks that have taken permission for mobile banking, 20 have begun operations. The banks are now serving a clientele of nearly 1.5 crore. Mobile banking transactions worth around Tk 250 crore take place a day, and the Bangladeshi model is also getting global attention for its success. Mobile banking services have proven more suitable and effective in taking banking services to the working class as compared to conventional banking systems. Mobile banking has facilitated easy flow of money from the cities towards rural areas, helping economic activities to flourish and supporting development.

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