Bangladesh Bank has instructed to limit financial transactions on mobile financial services (MFS) in view of the upcoming parliamentary elections.

It says that transactions exceeding Tk 10,000 cannot be made through mobile banking until midnight on the election day, February 12.

Even if you want to send 10,000 taka, you have to send it 10 times. That is, you cannot send or withdraw more than 1,000 taka each time.

Arif Hossain Khan, spokesperson and executive director of the central bank, said that formal instructions in this regard have been sent to commercial banks this Sunday evening.

He said that this directive will come into effect from tomorrow, February 9.

Apart from this, another internal directive has asked banks not to conduct cash transactions exceeding one lakh taka per customer per day.

The central bank said this step was taken to ensure financial security during the elections.