BB Asks MFS Cos to Inform Clients about Product Charges

Bangladesh Bank (BB) has instructed all mobile financial service (MFS) providers to inform their customers about the type and charges of the products in detail to ensure the transparency of 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 social media platforms.