MOBILE FINANCIAL SERVICES IN THE CONTEXT OF BANGLADESH

• Main Authors: Md. Humayun Kabir, S. S. M. Sadrul Huda, Omar Faruq
• Format: Article
• Language: English
• Published: Nicolaus Copernicus University in Toruń 2021-02-01
• Series: Copernican Journal of Finance & Accounting
• Subjects: financial services innovation; mobile financial services; mobile banking; internet banking; financial inclusion; financial technology
• Online Access: https://apcz.umk.pl/czasopisma/index.php/CJFA/article/view/33344

<p>Financial service is one of the significant finance areas, which can be regarded as the functions provided by organizations that operate in the finance industry. In this dynamic era of business, there has been notable progress in the innovation of various financial services. Financial services innovation can be termed as new ways and processes of providing financial services to customers. The recent development of mobile banking, short messaging service (SMS) banking, agent banking, internet banking, mobile money account are remarkable instances of financial services innovation in Bangladesh. This paper studies the present scenario of mobile financial services, regulatory framework, and prospects and challenges of Bangladesh. This study is a descriptive study where quantitative data has been collected from secondary sources. The study’s findings suggest that mobile financial services are accelerating in Bangladesh, but diversification of services is required to attain sustainable long-term growth. The concerned policymakers and practitioners’ can use the study to enhance mobile financial services in Bangladesh.</p>