Bangladesh Bank has extended by five months the deadline for implementing new rules governing “add money” transfers from bank cards to mobile financial service, or MFS, accounts. In a circular issued Thursday, the central bank said mobile financial service providers and scheduled banks will have until December 31 to implement the requirements.

Under the new instructions, institutions must establish the necessary technical and operational arrangements for card-to-MFS add-money services by the deadline. Customers can currently add funds to MFS accounts using bank debit and credit cards. Bangladesh Bank had issued the new requirements to strengthen security, customer identification verification, or KYC, and transparency in these transactions.

The additional time was provided because banks and MFS institutions need to make required changes to their technological infrastructure and operating procedures. If the requirements are not implemented within the stipulated period, the facility to add money to MFS accounts using cards must be discontinued from January 1, 2027. The circular gives the affected providers and scheduled banks until the end of December to complete the required preparations.