Dhaka, Feb. 9 -- Bangladesh Bank has imposed strict limits on mobile financial services (MFS) and cash transactions ahead of the parliamentary election scheduled for February 12, aiming to prevent misuse of financial platforms during the sensitive election period.

In a circular issued on Sunday, the central bank said that from 12:00 am on Sunday, person-to-person transfers through MFS platforms such as bKash, Rocket and Nagad will be capped at Tk 1,000 per transaction. Users will be allowed to make a maximum of 10 such transfers per day, setting a daily limit of Tk 10,000.

The restrictions will remain in force until 11:59 pm on the election day.

Previously, MFS users could transfer up to Tk 50,000 per day through person-to-person trans...