Shirajul Islam Mollah

Special Correspondent

Prime Bank Ltd will grow further to consolidate its presence in the development of the country's economy.

"We will turn 17 today (Tuesday) and our presence will be further expanded in near future," Md Shirajul Islam Mollah, chairman of Prime Bank Ltd told The FE in an interview recently.

Prime Bank started its business from 17th April, 1995. Mr Mollah spoke about the bank's successes, current activities and future plans to the FE on this occasion.

"17 years, is not a long duration for an organization as opposed to a person. Prime Bank has achieved quite a significant success in this short span of time. It is a leading commercial bank in the country at this moment," he said.

Mentioning the pioneering role of the Bank in recent years, he said Prime Bank first launched the consumer credit schemes to raise the purchase power of the customers. Under this, customers get the advantage of purchasing Television, Refrigerator, Computer, Car, etc. through Bank loans and pay back at Equal Monthly Installments (EMI).

"Today, you can find this scheme in every banks," he added.

"The Prime Bank also started Islamic Banking simultaneously. The accounts of the Islamic Banking business are maintained according to the Islami Shariah separately from the conventional banking business. Today, you can see a lot of Banks having Islamic Banking along with their conventional banking system."

He said Prime Bank is the first choice of people of the grass-root level of the country. The Bank's products and services are created considering the needs of the people.

The chairman also vowed to bring country's un-banked population under inclusive banking services through different innovative and technology-based products in the coming days.

The chairman said the Bank got permission to open new 12 branches this year, which will raise the total number of branches at 131. The new branches will be set up following 1:1 ratio (one in city and another one in outside Pourashava) to spread the banking services in the rural areas, he said.

He put light on the Bank's business successes, at home and aboard, including achievements of awards like SAFA, ICAB as the best bank. The bank grabbed the credit rating by CRISL to ST-1 in the short term and AA+ in the long term, he added.

The chairman said the Bank took many kinds of steps to increase the remittance flow and various SME loans to make the national economy stronger.

Prime Bank introduced internet and mobile banking this year to ensure a wide and maximum use of information technology, and launched school banking "My First Account" for the school going students, he said.

This month, the bank is going to launch two new products-- Platinum Card and Biometric Smart Card (Prime Cash)-- this month, he disclosed.

The Bank is also rendering different short and long term philanthropic services in the health and education sectors for the people's welfare through the Prime Bank Foundation.

The foundation's services include financial support to the poor and meritorious students for their higher education, establishment of an international eye hospital at Dhanmondi in the city, he said, adding that the bank has a plan to set up a medical college and nursing institute at Ashulia.

As per of its support to the country's sports, the Bank has already acquired ownership rights of Old DOHS Cricket Club, which will be known as 'Prime Bank Cricket Club". The Bank will also establish a cricket academy based on this club to train up the upcoming talented cricketers, Mr Mollah said.

Financial Express/Bangladesh/ 17th April 2012