Islami Bank mCash is the Mobile Banking of Islami Bank Bangladesh Limited where the customers of any mobile company take the 24 hours of mobile banking services from anywhere of the country without going to any branches.
Despite making significant improvements in all the areas relating to financial viability, profitability, innovation and competitiveness, there are concerns that banks have not been able to include vast segment of the population, especially the underprivileged sections and rural people into the fold of basic banking services.
On the other hand, rapid growth of mobile phone users and wider range of the coverage of Mobile Network Operators (MNOs) has made their delivery channel an important tool of the trade for extending banking services to the unbanked/banked population.
In order to ensure the access of unbanked people by taking advantage of countrywide mobile network coverage, Bangladesh Bank given the permission to start the mobile banking operation for adoption of the unbanked people who have mobile connection.
Taking the growth of Mobile banking into consideration, it can be the perfect platform for Bangladesh to take financial services to the country's largely unbanked population in an efficient and low-cost manner.