The Banking industry and Banking Fair 2015

Banking Fair Bangladesh 2015 kicks off 

The first National Banking Fair was inaugurated in Bangla academy on the November 24. This 5-day long fair is not the most innovative, but an unusual promotion of the banking sector of Bangladesh, in an attempt to make the citizens aware and more confident about banking services.

‘Mobile ATM Booth’ service introduced in Bangladesh

The highlight of the banking sector comes with another unusual innovation, the ‘Mobile ATM Booth’.  An ATM literally on wheels, its goal is to make the banks “reach” their clients. This was launched by Al-Arafah Islami Bank Ltd. to expand ATM services for rural, as well as the urban regions.

Recent highlights of the Banking Fair Bangladesh 2015 include different banks extending their reach through banking strategies. 

• Jamuna bank is focusing on a 10 fold loan against salary, other than their accessible car loan. 

• Korea’s largest commercial bank Woori, operating in Bangladesh for many years, is lowering personal and home loan interest rates. Personal loans of a maximum Tk 10 lakh will be available without collateral. 
• National Bank (NBL) and Islami Bank (IBBL)are focusing on SMEs. NBL is promoting ‘NBL NoboUddog’ loans for fresh entrepreneurs and ‘NBL Trinamul Uddog’ for farmers. IBBL is promoting a few more facilities, concentrating mostly on SMEs and retail banking. ‘Women Entrepreneur Investment Project’ is being offered, while ‘Khidmah Credit Card’ a Shariah based banking facility is being provided. IBBL is also promoting their Salary Card for industrial workers; whereas greater awareness about their e-payment gateway, the ‘iPaysave’ is marketed. 
• Rupali Bank is also focusing on farmers, extending soft loans to them at 4 percent on farming import replacing crops. They are also facilitating street children with a zero balance savings account. 
• BRAC bank is extending basic home and car loan, while personal no-collateral loans are also available.

Banking in a different light, although not unheard of by any means, are prioritized by NCC Bank Ltd and Habib Bank Ltd. The pioneer of this format, Habib bank is spreading their word about ‘Money Club’, a school banking service for students, where they can maintain it with a Tk 500 balance. With free debit card and check books, students will not face charges for operations. NCC Bank’s ‘Money Plan’ and ‘Maximus’ are similar fomats; the former a long term deposit and the latter a FDR facility for school students.