Agent banking now popular

The banks in the country are turning to agent banking thanks to huge resp-onse from customers. In the agent banking system, all kinds of facilities available like bank branches. In the remote areas, mobile service is currently available. As a result, banking has been easy there. Agent banking has getting popular as banks are now paying attention to this service.

According to Bangla-desh Bank (BB), over 500000 subscribers has added to the agent banking in last six months. There are more than one million accounts have been opened through agent banking until last September which was only 504400 in December last. There are 3,555 outlets of agent banking across the country. The number of agents has stood at 2,155. Some Tk 9.22 billion has been deposited through the agent banking system.

Industry insiders said banks have to face difficulties to launch a branch. But it is easy to run or hire agents. There is no additional costs for agent banking as the agent concerned carries all expenditures. At first, Bank Asia has started agent banking service in the country. Later, other banks have taken the initiative to provide the services to customers. At present, most of the banks have the agent banking service.

An official of Bank Asia said, the program has started to bring the people of the rural areas under the banking service. Now, the rural people get financial knowledge through  the program. He said, agent banking is not exactly like branch banking, but customers are getting various services through the service. At the same time, agent banking is safe as the general banking. As a result, the customers have happily taken the new service.

Bangladeshi expatriates are remitting money through the agent banking helping reduce the money laundering.  The expatriates have already sent Tk 2.40 billion as the remittance through this service. Bangladesh Bank spokesman Subhankar Saha said, the agent banking getting popular across the country. Through the agent banking, customers can open new bank accounts, deposit and withdraw funds, transfer money, launch various term deposit schemes, paying utility service bills, withdraw different types of debts and payments.

-Shah Alam Nur, AA