Bangladesh Election Financial Restrictions May Tighten Mobile Transactions Ahead Of Polls

As Bangladesh prepares for its 13th national election, authorities are moving toward temporary financial controls aimed at limiting the flow of money during the critical pre-election period.

Sources familiar with the matter say transaction limits on mobile financial services, including bKash, Nagad, and Rocket, are likely to be tightened from 8 to 13 February. The election itself is scheduled for 12 February.

Under the proposed measures, users would be able to transact a maximum of Tk10,000 per day through mobile financial services. Each individual transaction would be capped at Tk1,000, a sharp restriction compared to regular limits.

In addition to mobile wallets, person-to-person transfers through internet banking channels are expected to face a temporary suspension. Officials say the restriction would apply only to transfers between individual customers, not institutional or other categories.

The initiative is intended to curb the use of money to influence voters during the election period, according to officials involved in the process. The plan was drawn up at the request of the Election Commission, with the Bangladesh Financial Intelligence Unit playing a coordinating role and Bangladesh Bank preparing for implementation.

Bangladesh Bank Spokesperson Arif Hossain Khan said on 1 February that the central bank would act strictly in line with directives issued by the Election Commission regarding mobile financial services and internet banking operations during the polls.

He explained that the Payment Systems Department had received a letter through official channels and had sought clarification from the Election Commission. Once clear instructions are received, a circular would be issued to banks and mobile financial service providers.

However, officials at the Bangladesh Financial Intelligence Unit stressed that the agency had not independently issued any directive. According to a senior BFIU official, the Ministry of Home Affairs circulated a letter to multiple agencies regarding financial transactions during the election period, which was then forwarded internally for coordination.

Authorities involved in the discussions noted that the proposed transaction caps are not yet final. Adjustments may still be made before the measures are formally announced and enforced.

If implemented, the restrictions would affect millions of daily users who rely on mobile financial services for routine payments, transfers, and small business transactions. For now, service providers and customers alike are awaiting formal instructions as election preparations enter their final phase.

The coming days are expected to bring clarity, as regulators balance election integrity concerns with the practical realities of Bangladesh’s heavily digitised financial ecosystem.