Bangladesh Bank cautions public against Sohozcash dealings

Bangladesh Bank (BB) today issued a warning against recruitment or transactions with Sohozcash Limited, stating that no organisation under this name has obtained permission, nor has it applied to the central bank for such approval.

The BB, which holds the sole authority to approve institutions authorised to conduct financial transactions, has issued a notification in this regard.

According to the notification, a job advertisement, recently published in several national newspapers in the name of Sohozcash Limited, came to the attention of the Bangladesh Bank.

The advertisement claimed that Sohozcash Limited was in a pre-operational stage and in the process of obtaining central bank approval to launch mobile financial service (MFS).

However, the central bank clarified that no application to launch MFS under the name Sohozcash Limited has been submitted or accepted, and the banking regulator is not in the process of approving any such institution.

The BB has, therefore, urged all concerned to exercise caution and refrain from making any financial transactions or commitments with the said organisation.