National Credit and Commerce (NCC) Bank Limited has launched a disaster recovery (DR) centre at Uttara in the city yesterday.
Md Harunur Rashid, vice chairman of the bank formally inaugurated the centre as the chief guest at a function, aid a press release.
Mohammed Nurul Amin, managing director and CEO of the bank chaired the function.
NCC directors Nurul Islam, Tofazzal Hossain, Din M Rana, KZ Mahmud, Khairul Alam Chaklader and Md Humayun Kabir attended the function as special guests.
Addressing the function the vice chairman hopped that the centre would play a significant role in promotion of trust among the customers of the bank.
The bank will be providing increased quality services with efficiency and reliability to the customers, he added.
Managing director and CEO Mohammed Nurul Amin said the world is moving toward green banking where dynamism, high rate of productivity, improved operational efficiency, enhanced shareholder value and regulator’s compliance are inevitable.
Providing quality services would not be possible without a strong IT infrastructure, he added.
The centre will ensure backup of its entire daily banking operational activities, he said.
News: Daily Sun/Bangladesh/ Apr-08-2011
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
Internet Banking is growing popular day by day in Bangladesh. A number of private as well as local banks are going online now considering the demand and necessity of fast banking. Internet banking not only provides banking facility round the clock but also helps a country to get attached to the international economy as well as business. People throughout the world are now getting engaged with more activity and business and hence need the fast and anytime access to his/her bank account. Internet banking also facilitates buying and selling various products which varies country to country.
In Bangladesh many banks have launched Internet Banking. Amongst those HSBC, City Bank, BRAC Bank, Bank Asia, Jamuna Bank, Janata Bank, Southeast Bank, AB Bank, First Security Bank, Mercantile Bank, Premier Bank etc are in action already. Some are known as online banking, some are Internet Banking, providing various facilities. Like City Bank has the facility of account check and statement print including query about cheque book information. Bank Asia has almost same facilities but with addition they have internal fund transfer facility along with bill payment and mobile phone recharge which are, in fact quite handy.
Mercantile bank has a schedule for internet banking. It is Sunday to Thursday, 9am-3pm. They have the facility of money transaction, deposit and withdrawal though they charge a particular amount for each transaction according to their policy, it is a relief if you don’t have to go to bank for depositing and drawing money, isn’t it?
HSBC and BRAC Bank are clearly not satisfied with the transaction thing only in internet banking. They thought of something more and desiring and customized the service to its best for their clients and getting better day by day. HSBC has a whole lot of features in their online banking that includes 24/7 account access, loan account information, net- worth information, transaction amongst accounts, bill pay, personal information update, demand draft, ATM info or PIN replacement request, chequebook order and lot more.
BRAC bank is one step ahead because for the first time they have introduced online shopping in Bangladesh. With exclusive features and facility BRAC bank also provides general online facility like the other banks. BRAC bank’s online shopping facilitates merchants to buy any product as they need online, they can customize the offers as well. Those who may have BRAC Bank VISA card or any VISA card can be a part of this online shopping service.
As the world economy is growing faster and banking sector is making mark each and every day, online banking is very important and effective to be a part of it. Bangladesh just started its journey in internet banking and banks are coming forward to make it a success. Online banking is clearly a huge benefit for the customers and saves a lot of time and things get done so easily. A developing country like Bangladesh can make the best out of Internet Banking and banks are completely into it.
City Bank American Express recently signed a Flexi Buy agreement with Otobi. Under this agreement, City Bank American Express Card members will be able to enjoy buying Otobi furniture at 0% interest with 3 to 12 months installment plan, said a press release. Mashrur Arefin, deputy managing director (operations) and chief communications officer of City Bank and Md Shamsuddoha Shemul, general manager (CRM-retail), signed the agreement on behalf of their respective organisations at City Bank Centre.
Md Mahmuh Hossain, general manager (CRM – corporate), and Md Khijir Haayat Khan, deputy general manager of Otobi and Majharul Islam, acting head of cards of City Bank were present.
News: Daily Sun/Bangladesh/05 Mar 2011
Employees of different organisations and firms now can draw their salaries from their bank accounts under an electronic fund transfer (EFT) network of 40 banks that the central bank introduced yesterday.
Bangladesh Bank (BB) Governor Atiur Rahman formally inaugurated the paperless system at the central bank premises after the introduction of an automated cheque processing system last year.
The new system will enable any corporate customer to pay salaries to its employees through accounts in different banks.
The central bank governor said the step is a milestone in making the banking sector of Bangladesh more technology-dependent, automated and customer friendly.
In the first phase, credit transaction has been introduced, while the debit transaction will start later, BB officials said at the inaugural function.
Rahman said, with the introduction of Bangladesh Electronic Fund Transfer Network (BEFTN), the customers will be able to do various transactions including electronic process payment of salary, overseas and local remittance and utilities' bill payment and government tax payment through the 40 banks.
He also said the system will be quicker and cost-effective compared to paper-based clearing system.
The banks will be able to provide internet and mobile banking facilities if they want, the governor added.
BB Deputy Governor Ziaul Hasan Siddiqui said the system will also quicken remittance transfer.
He said 30 percent of the remittance recipients are the clients of the banks of the network and the rest 70 percent are of other banks.
Siddiqui said, through the EFT the clients of other banks will also get remittances quickly.
BB Deputy Director Ali Kamran Al Zahid, who presented detailed information of the EFT to the journalists, said cheques and other paper-based payments are expensive and have increasing fraud risks, but electronic payments are more secured, fast and less expensive.
He said payment through cheque costs $1.2, while it is only 10 cents under the electronic system.
The automated system was introduced with the financing from the UK Department for International Development (DFID) under a project taken in 2006. As a part of it, initially the automated cheque clearing system was introduced in October last year in Dhaka.
The system came to effect in Sylhet in January this year, while in Chittagong in February.
The BB officials said about 80 percent cheques are now being settled through the automated system.
News: The Daily Star/ Bangladesh/ Mar-01-2011