Prime Bank FinTech gets central bank nod to operate MFS

Prime Bank FinTech Limited, a subsidiary of Prime Bank PLC, has been recently awarded a licence to operate Mobile Financial Services (MFS) in the country.

This enables Prime Bank FinTech to formally launch its own brand of MFS services in Bangladesh.

According to a press release, with this regulatory approval, Prime Bank FinTech is set to reshape the country’s digital financial ecosystem by addressing the vast untapped spaces.

The goal is to move beyond traditional competition and foster a collaborative market environment that prioritises financial literacy and inclusive growth.

By acting as a digital guardian for users, this will aim to bridge the gap for the unbanked and empower every individual to navigate the cashless economy with confidence and security.

Prime Bank FinTech will operate its MFS under a dedicated brand identity. The brand will work closely with regulators, partners and stakeholders to ensure compliance, operational excellence and a seamless customer experience as it prepares for its formal launch.