In a major move to prevent the illegal use of funds during the upcoming 13th National Parliamentary Election, Bangladesh Bank has imposed strict temporary restrictions on Mobile Financial Services (MFS) and internet banking.
The Payment Systems Department of the central bank issued a directive on Sunday, mandating a 96-hour cooling-off period for digital peer-to-peer (P2P) transfers. These measures aim to curb the influence of “black money” and prevent any attempts to illicitly influence voters through digital channels.
Key Restrictions: 96-Hour Digital Lockdown
The restrictions will be in effect from midnight on Monday (February 9) until 11:59 PM on Thursday (February 12), encompassing the day of the election.
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P2P Internet Banking: Peer-to-peer transfers via various banking apps and the Interbank Fund Transfer (IBFT) system will be completely suspended for the duration.
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MFS Limits: Personal account transactions for services like bKash, Nagad, and Rocket have been severely capped. Users are restricted to a maximum of 1,000 BDT per transaction, with a daily limit of 10 transactions (totaling 10,000 BDT).
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Excluded Services: Merchant payments (shopping) and utility bill settlements will remain operational under existing rules to minimize the impact on daily essential commerce.
Vigilance and Monitoring
To ensure strict compliance, the central bank has ordered all MFS providers to establish their own Quick Response Cells. These units will be responsible for resolving election-related complaints and maintaining round-the-clock surveillance of digital transactions.
“All MFS providers must conduct close, 24/7 monitoring of all transaction activities,” the central bank stated in its circular. “Any suspicious or abnormal transaction patterns must be reported to the nearest police station immediately.”
Additionally, banks and MFS providers are required to provide full technical and logistical support to the Election Commission (EC) and law enforcement agencies throughout the 96-hour window.
Impact Summary: Feb 9 – Feb 12
| Service Type | Status/Limit | Notes |
| Internet Banking (IBFT) | Suspended | No P2P transfers via apps |
| MFS P2P Transfers | Max 1,000 BDT | Limit of 10 transfers per day |
| Merchant Payments | Normal | Shopping & groceries unaffected |
| Utility Bills | Normal | Electricity, water, etc. unaffected |
The central bank emphasized that these “extraordinary measures” are essential for maintaining the integrity of the electoral process and ensuring a fair environment for all candidates. Regular banking and digital services are expected to resume fully at the stroke of midnight on February 13.
