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M-Banking: The Transaction Revolution in Bangladesh

Received: 19 April 2020     Accepted: 22 May 2020     Published: 27 August 2020
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Abstract

Bangladesh is a developing country where mobile network operators had been started from 1993 through AMPS (Advanced Mobile Phone Service) and later on CDMA (Code-Division Multiple Access) technology was introduced and mobile banking facilities were started clearly under a guideline of the central bank of Bangladesh on ‘Mobile Financial Services for Banks’ in September 2011. Though m-banking is a newer service in the country meanwhile it has got very popularity within a short time due to inadequate traditional banking facilities. In this study, mobile banking of Bangladesh has been emphasized on some transactional usages and with a new concept. There are many villages in Bangladesh where no financial institution exists physically for financial transactions yet. Through this study, the researcher also found that many villages are very far away from the bank area. But people who have no bank accounts are now habituated with mobile banking facilities and happy with the services. Since some financial institutions are allowing their subscribers (mobile banking account holders) to use ATM facilities for cash withdrawal, so the m-banking is being popular in the village, semi-urban, urban, and city areas. The subscribers are being accustomed to mobile banking services and the users are also increasing tremendously with time.

Published in Science Research (Volume 8, Issue 4)
DOI 10.11648/j.sr.20200804.12
Page(s) 98-107
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2020. Published by Science Publishing Group

Keywords

Mobile Banking or M-Banking, Transaction, Service, Payment, User

References
[1] Akhtaruzzaman, M., Islam, M. E., Islam, M. S., -Ul-Islam, S. R., Bhuiyan, M. R., Tareq, M., et al. (2017). An Impact Study onMobile Financial Services (MFSs) in Bangladesh. Research, Bangladesh Bank and Dhaka University, Dhaka.
[2] Andrew, W. (2009). Mobile Banking in Developing Countries (a case study onKenya). Kenya: UNIVERSITY OF APPLIED SCIENCES.
[3] Bangladesh Bank. (2019, November). Mobile Financial Services. Retrieved December 07, 2010, from Bangladesh Bank: https://www.bb.org.bd/fnansys/paymentsys/mfsdata.php.
[4] Bangladesh Bank. (2020). Mobile Financial Services. Dhaka: Bangladesh Bank.
[5] BRAC Bank Company. (2019). Tariff. Retrieved 12 08, 2019, from bKash: https://www.bkash.com/support/tariff-limits/tariff.
[6] Dutch-Bangla Bank Limited. (2019, December 19). Dutch-Bangla Bank Rocket. Dhaka, Bangladesh.
[7] Hasan, M. (2019). BB increases mobile banking transaction limit. Dhaka: Dhaka Tribune.
[8] Islam, M. Z. (2016). Mobile banking sees stellar growth. Dhaka: The Daily Star.
[9] Karnouskos, S., & Vilmos, A. (2004). The European Perspective on Mobile Payments. IEEE Symposium on Trends in Communications (SympoTIC '04) (pp. 24-26). Bratislava, Slovakia: Research Gate.
[10] Khan, B. S. (2015). Regulatory Guidelines for Mobile Financial Services (MFS) in Bangladesh. Dhaka: The Daily Star.
[11] Mahzabin, F. (2019). Mobile Banking in Bangladesh. Dhaka: Business Haunt.
[12] Ondiege, P. (2010). Mobile Banking in Africa: Taking the Bankto the People. Abidjan: African Development Bank.
[13] Pathak, A., & Mishra, S. (2019). Consumer Behavior and Attitude towards Mobile Banking: An Empirical Analysis. International Journal of Innovative Technology and Exploring Engineering (IJITEE), 494-499.
[14] Star Business Report. (2018). Daily transaction via mobile banking Tk 994cr: Muhith. Dhaka: The Daily Star.
[15] Tribune Editorial. (2019). Mobile banking is the way forward. Dhaka: Dhaka Tribune.
Cite This Article
  • APA Style

    Md. Tareq Hasan. (2020). M-Banking: The Transaction Revolution in Bangladesh. Science Research, 8(4), 98-107. https://doi.org/10.11648/j.sr.20200804.12

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    ACS Style

    Md. Tareq Hasan. M-Banking: The Transaction Revolution in Bangladesh. Sci. Res. 2020, 8(4), 98-107. doi: 10.11648/j.sr.20200804.12

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    AMA Style

    Md. Tareq Hasan. M-Banking: The Transaction Revolution in Bangladesh. Sci Res. 2020;8(4):98-107. doi: 10.11648/j.sr.20200804.12

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  • @article{10.11648/j.sr.20200804.12,
      author = {Md. Tareq Hasan},
      title = {M-Banking: The Transaction Revolution in Bangladesh},
      journal = {Science Research},
      volume = {8},
      number = {4},
      pages = {98-107},
      doi = {10.11648/j.sr.20200804.12},
      url = {https://doi.org/10.11648/j.sr.20200804.12},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sr.20200804.12},
      abstract = {Bangladesh is a developing country where mobile network operators had been started from 1993 through AMPS (Advanced Mobile Phone Service) and later on CDMA (Code-Division Multiple Access) technology was introduced and mobile banking facilities were started clearly under a guideline of the central bank of Bangladesh on ‘Mobile Financial Services for Banks’ in September 2011. Though m-banking is a newer service in the country meanwhile it has got very popularity within a short time due to inadequate traditional banking facilities. In this study, mobile banking of Bangladesh has been emphasized on some transactional usages and with a new concept. There are many villages in Bangladesh where no financial institution exists physically for financial transactions yet. Through this study, the researcher also found that many villages are very far away from the bank area. But people who have no bank accounts are now habituated with mobile banking facilities and happy with the services. Since some financial institutions are allowing their subscribers (mobile banking account holders) to use ATM facilities for cash withdrawal, so the m-banking is being popular in the village, semi-urban, urban, and city areas. The subscribers are being accustomed to mobile banking services and the users are also increasing tremendously with time.},
     year = {2020}
    }
    

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  • TY  - JOUR
    T1  - M-Banking: The Transaction Revolution in Bangladesh
    AU  - Md. Tareq Hasan
    Y1  - 2020/08/27
    PY  - 2020
    N1  - https://doi.org/10.11648/j.sr.20200804.12
    DO  - 10.11648/j.sr.20200804.12
    T2  - Science Research
    JF  - Science Research
    JO  - Science Research
    SP  - 98
    EP  - 107
    PB  - Science Publishing Group
    SN  - 2329-0927
    UR  - https://doi.org/10.11648/j.sr.20200804.12
    AB  - Bangladesh is a developing country where mobile network operators had been started from 1993 through AMPS (Advanced Mobile Phone Service) and later on CDMA (Code-Division Multiple Access) technology was introduced and mobile banking facilities were started clearly under a guideline of the central bank of Bangladesh on ‘Mobile Financial Services for Banks’ in September 2011. Though m-banking is a newer service in the country meanwhile it has got very popularity within a short time due to inadequate traditional banking facilities. In this study, mobile banking of Bangladesh has been emphasized on some transactional usages and with a new concept. There are many villages in Bangladesh where no financial institution exists physically for financial transactions yet. Through this study, the researcher also found that many villages are very far away from the bank area. But people who have no bank accounts are now habituated with mobile banking facilities and happy with the services. Since some financial institutions are allowing their subscribers (mobile banking account holders) to use ATM facilities for cash withdrawal, so the m-banking is being popular in the village, semi-urban, urban, and city areas. The subscribers are being accustomed to mobile banking services and the users are also increasing tremendously with time.
    VL  - 8
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Author Information
  • Department of Business Administration, Sheikh Fazilatunnesa Mujib University, Jamalpur, Bangladesh

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