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Bangladesh Bank Warns Against Using Shohoz Cash Ltd
Bangladesh Bank (BB) has issued a stern warning to the public against engaging in any financial transactions or commitments with an entity named ‘Shohoz Cash Limited’, stating that it has not granted any operational license to the company.
In a press release issued on Tuesday, the central bank said that advertisements were recently published in several national newspapers by 'Shohoz Cash Limited', claiming the entity was in its pre-operational phase and was currently in the process of obtaining Bangladesh Bank’s approval to launch ‘Mobile Financial Services (MFS)’.
However, Bangladesh Bank explicitly stated that it has not received any application from a company named ‘Shohoz Cash Limited’ for MFS operations, nor is any such application currently under process.
The notification further stressed that the Bangladesh Bank is the sole authority mandated to grant approval for conducting financial transactions in the country.
The central bank strongly advised citizens to exercise caution before entering into any transactions or accepting job offers from ‘Shohoz Cash Limited’.
The central bank advisory urging citizens to protect themselves from fraudulent financial activities by dealing only with authorised financial institutions, reports UNB.