BB asks MFS cos to inform clients about product charges

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DHAKA, Oct 16, 2020 (BSS) – Bangladesh Bank (BB) has instructed all mobile financial service (MFS) providers to inform their customers about type and charges of the products in details to ensure transparency of their services.

“MFS companies should prepare ‘frequently asked questions’ and schedule of charges of their services, to be featured on both their websites and mobile applications,” said per a BB circular issued on Thursday.

If any MFS charges any amount for its products or services, the entity must let the customers know about the change in advance, according to the circular.

As per the circular, the MFS platforms will have to make people and customers aware of the services they render – through radio, television and the social media platforms.

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