Out of the Tk33.4 crore, transactions of around Tk2.22 crore were carried out through mobile financial services (MFS)

The digital transaction system established for the first time in six of the sacrificial cattle markets in the capital saw Tk33.4 crore worth of digital transactions during this Eid-ul-Azha.

To ensure that consumers can carry out transactions safely and with ease, the Bangladesh Bank and Dhaka North City Corporation (DNCC), under a joint initiative set up digital payment booths in several cattle markets this Eid.

Digital booths were set up in cattle markets in Mohammadpur's Bosila area, Aftabnagar, Bhatara, Kawla, Uttara sector 17 and Gabtali.

According to the central bank’s Payment System Department report that came out on July 13, out of the Tk33.4 crore, transactions of around Tk2.22 crore were carried out through mobile financial services (MFS), across all the cattle markets. 

 A total of 13,211 digital transactions were carried out across the markets according to the central bank. 

On top of that, 443 new bank accounts were opened by sellers who traded in those markets for carrying out transactions, of which 397 were mobile MFS accounts. 

However, more money has been transacted through MFS for ‘hasil’ than that for buying and selling animals.

Of the Tk2.22 crore transacted through MFS, around Tk2.14 crore was transacted for hasil, while only around Tk7 lakh was transacted through MFS for buying animals.

According to the central bank, around Tk15.52 crore worth of transactions between buyers and sellers were carried out using the ATM booths installed in the cattle markets, whereas around Tk13.3 crore was transacted through agent banking. 

Around Tk2 crore was paid through POS machines for buying sacrificial animals.

Of the six cattle markets, Gabtoli market has witnessed the highest number of digital transactions of about Tk12.85 crores. Aftabnagar ranked second recording around Tk6.4 crore worth of digital transactions. 

Among the other sacrificial cattle markets, Uttara 17 recorded around Tk4.45 crore worth of transactions, Bhatara around Tk3.96 crore, Bosila around Tk2.86 crore and Kawla recorded around Tk74.76 lakh.

During this year's Eid-ul-Azha, the highest number of transactions was recorded between July 7 and 9. 

On July 7 around Tk5 crore worth of digital transactions through 326 transactions were recorded, while on July 8 another Tk12.8 crore through 1,061 transactions was recorded.

And on July 9, Tk11.26 crore worth of digital transactions were recorded through 2,150 transactions.

Bangladesh Bank was one of the initiators of the pilot project titled “Smart Bangladesh, Smart Hat” to encourage digital transactions between buyers and sellers.