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Mobile Financial Services in Bangladesh: A Survey of Current Services, Regulations, and Usage in Select USAID Projects

COMMUNITY CONTRIBUTION
Jaheed Parvez, Ariful Islam, and Josh Woodard
FHI 360
United States Agency for International Development (USAID)
April 29, 2015

This report covers the state of mobile financial services in Bangladesh, including an overview of the services available, relevant regulations, and the extent to which staff and beneficiaries from select USAID agriculture and health projects are using those services. Key findings include:

  • Despite having a very clear mobile financial service (MFS) market leader, competition is growing quickly with at least 10 banks now offering services and third-party agent networks helping them to close the agent gap.
  • More than 80% of MFS users agreed that the services are safe, easy, and convenient.
  • A majority of respondents were interested in using MFS for bill payments (77%), savings (76%), airtime top-ups (70%), education fee payments (60%), and merchant payments (55%)
  • 71% of MFS users surveyed live within one kilometer of an agent, compared to just 41% of those who live that close to a bank branch.

Read the full report by downloading the PDF. Note that viewing in your browser may result in lower resolution of some of the images.

 

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