The number of users for mobile banking tripled last year in Bangladesh. This is a perfect example of how mobile phones can bring financial services to developing nations.
Bangladesh has 68,000 villages, but it cannot have bank branches in every village. "You can only do it through agent banking. Mobile banking is going to be significantly important for financial inclusion in the country," he told The Daily Star in an interview recently. His comments came as a new study shows mobile banking in Bangladesh is gathering momentum after the number of subscribers soared more than threefold to 13.2 million last year.