Dhaka: The High Court on Sunday issued a rule asking the authorities concerned to explain why the arbitrary and excessive service charges imposed on customers by mobile financial service (MFS) providers – bKash, Nagad, and Rocket – should not be declared illegal and unconstitutional. The court further demanded an explanation from the government on the necessity of creating a separate law to regulate mobile financial services.

According to United News of Bangladesh, the bench of Justice Md Mozibur Rahman Miah and Justice Rezaul Karim issued the rule after a public interest litigation petition was filed by Supreme Court lawyer Obaidullah Al Mamun Shakib. The petition highlights the need for legal frameworks to ensure that service charges are fair and affordable, particularly for low-income individuals and those without access to traditional banking services.

The proposed legislation would aim to regulate service charges, enforce consumer protection, and uphold accountability among mobile financial service providers. This move is expected to make MFS charges more reasonable and support financial inclusion efforts across the country.

The Finance Secretary, the Posts and Telecommunications Secretary, the Governor of Bangladesh Bank, and other relevant authorities have been directed to respond to the rule within four weeks, potentially paving the way for significant regulatory changes in the mobile financial services sector.