Non-resident Bangladeshis (NRBs) have become one of the major targets for many commercial banks those are desperately looking for expanding their business beyond domestic squire to secure sustainable liquidity position.

Offering many products and services with lucrative return on deposits, remittance and other banking services, the banks are trying to fetch as much business as they can from the expatriate Bangladeshis. The products include different types of savings and investment schemes and bonds.

Many banks have opened exchange houses in different countries to take their services at the doorsteps of the Bangladeshi people living overseas. According to Bangladesh Bank (BB), there are 63 exchanges houses of Bangladeshi banks in different countries when some banks are awaiting BB’s approval to follow the suit.

Besides, some banks are regularly sending their senior executives to the major overseas labour markets to showcase their products and services to the NRBs and bring them in their clienteles’ lists. The bankers are encouraging the NRBs open accounts and send money home through the banking channel.

The countries those are getting major attention from the banks are Saudi Arabia, United Arab Emirate (UAE), Japan, Singapore, Malaysia, Kuwait, Qatar, Bahrain, the United Kingdom and the United States.

“It is good for the country’s economy if banks can get as much deposit as they can from external resources,” former governor and economist Dr Mohammad Farashuddin said.

He said banks are taking many steps besides introducing innovative products and services for NRBs, which would certainly bring a good yield for the country’s economy.

The Daily Sun/Bangladesh/ 24th June 2012