DBBL kick-starts mobile-banking

Posted by BankInfo on Fri, Apr 01 2011 07:08 am

Bangladesh entered into the ear of mobile-banking yesterday when Dutch-Bangla Bank Ltd (DBBL) introduced the service for the first time in the country with the support of mobile phone operators Banglalink and Citycell.

The aim of the service is to bring more people under the umbrella of banking service. Bangladesh Bank governor Dr Atiur Rahman inaugurated the service through deposit and withdrawal of money from two banking outlets in Nayapaltan and Puranapaltan areas in the city.

Mobile banking is a banking process that offers financial services like cash deposit, cash withdrawal, merchant payment, utility payment, salary disbursement, remittance inflow and outflow and government allowance disbursement through mobile gadgets.

Initially the government has given its approval to 10 banks to operate mobile-banking. DBBL is the first bank to grasp the opportunity. Under the service, any mobile handset with subscription to any of the two partner cellular companies would be able to avail the service.

On a Meet the Press programme organised at a hotel in Dhaka after the kick start of the service, the central bank governor termed occasion as a milestone for the country’s banking sector. He said it would be a creative, cost-effective and secured banking service.

“We have initiated a five-year strategy for banking sector development. Financial inclusion is one of the top of the agenda behind the move as mobile-banking is a part of financial inclusion”, Atiur said.

He said present banking system is mostly urban-based, so introduction of the service will help bring rural people into banking service net as they have easy access to mobile.

He also informed that the country’s economy is now on a strong footing and poised to achieve more than 7 per cent growth in GDP in next fiscal year.

Chief Executive Officer of Banglalink Ahmed Abou Doma said partnership is the most significant step in banking and financial sectors. “This project is such a major step that Banglalink is proud to be its partner.”

Citycell Chief Operating Officer David Lee said this is a great step in transforming traditional banking into modern banking. “I’m sure it will benefit the people of Bangladesh.”

Syem Ahmed, executive chairman of DBBL, said they believed in partnership and hoped that the project in collaboration with Banglalink and CityCell be able to draw attention of people.

Bangladesh Bank Executive Director Dasgupta Asim Kumar, DBBL Managing Director KS Tabrez, DBBL Deputy Managing Director Abul Kashem and BTRC Commissioner Monirul Alam also addressed the function.

News: Daily Sun/Bangladesh/ Apr-01-2011

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