BRAC Bank is the fastest to launch its 300th outlet as it continues its network expansion since entering into the agent banking business in October 2018. The valued customers can now avail the bank’s state-of-the-art agent banking services in 61 districts.
The pioneer of SME banking for the grassroots entrepreneurs in Bangladesh since 2001, BRAC Bank aims to emerge as the leader in agent banking space to serve the unbanked people at the remote areas of the country.
Managing director and CEO of the bank, Selim RF Hussain, formally marked the milestone at a ceremony at the bank’s head office in Dhaka on 22 January 2020. Deputy managing director and CRO Chowdhury Akhtar Asif, deputy managing director and COO Md. Sabbir Hossain, Deputy Managing Director & CFO M. Masud Rana FCA, Head of alternate banking channels Nazmur Rahim, head of agent banking Md. Nazmul Hasan and senior officials were present.
With the introduction of agent banking, the customers at the remote areas of the country will be able to avail opening accounts, deposit and withdraw cash and DPS, FDR, transfer funds, foreign remittance, utility bills and insurance premium payment, loan disbursement and repayment, government allowance receipt, debit card and cheque book requisition, school fee payment and many more banking services at the agent banking outlets.
Commenting on this auspicious occasion, Selim RF Hussain said: “The vision of BRAC Bank is to bring the unbanked segment of the people under formal financial umbrella. Agent banking will play a facilitating role in bringing in a large population who are presently out of formal banking services through this inclusive banking model.”
He added, “Our agent banking with biometric verification and digital capabilities will bring convenience to the people providing them with 24/7 banking anytime and anywhere. BRAC Bank will leverage on its expertise in SME Banking to make agent banking a widely expansive distribution channel. The agent banking service will create new employment opportunities and contribute significantly to uplift economy of the country especially in the rural parts. We will aggressively expand the network in the coming years to cover every nook and corner of the country.”