Complaints in banking sector galore

FE Report | Published: February 08, 2017 00:00:00 | Updated: February 01, 2018 00:00:00

Country's banking sector is facing complaints in rising numbers, totalling 4,530 in the last fiscal alone, against various alleged wrongs.
By official count the complaints increased by over 15 per cent in the fiscal year (FY) 2015-16 over the previous fiscal.
According to a disclosure made by the central bank Tuesday, the Bangladesh Bank (BB) received the 4530 complaints from the commercial banks and non-banking financial institutions (NBFIs) in the FY 16 against 3930 plaints in the FY'15.
The findings are carried in the annual report of the Financial Integrity and Customer Services Department (FICSD) of the central bank for the FY16.
The report says most of the complaints relate to general banking, loans and advances, cards, remittances, mobile banking, trade bills, bank guaranty, and miscellaneous matters.
"The rate of resolution was 100 per cent in the FY 16 which was similar to the previous fiscal year," it noted.
The highest number of complaints was received against Sonali Bank Limited, a state-owned commercial bank (SoCB). Among other public banks, Agarni Bank Limited, Janata Bank Limited, Bangladesh Krishi Bank Limited and Rupali Bank Limited were in the third, fifth, seventh and ninth positions respectively.
"Among the private commercial banks (PCBs), BRAC Bank Limited was in the first position. This bank is in the second position in terms of complaints received against all banks," the BB said in its report.
The BB, which is a regulatory body for the banks and NBFIs, receives complaints through its 10 branch offices across the country.
While unveiling the report at the central bank headquarters in Dhaka, BB Governor Fazle Kabir put emphasis on securing depositors and customers' interests in a cooperative manner.
"The banks are service-oriented institutions. So they (banks) will have to ensure their services to the customers with cooperative attitude," the central bank chief said.
He also advised the banks to conduct training programme separately in this connection for improving their quality of services.
BB Deputy Governor Abu Hena Mohd. Razee Hassan asked the bankers to follow their staff regulations properly. "The banks will have to go to the public with better services."
President of the Consumers Association of Bangladesh (CAB) Ghulam Rahman urged the central bank to monitor the banks closely to protect the depositors' interests.
About a falling trend in interest rates on deposit, the CAB president sought BB intervention in this connection, saying that the depositors are not benefitting from the existing trend in interest on deposit rather they are being affected.
Chairman of the Association of Bankers, Bangladesh (ABB) Anis A Khan said there is no scope of corruption in the country's banking sector.
Mr. Khan, also Managing Director and Chief Executive Officer of the Mutual Trust Bank Limited, advised the bankers to ensure services to their clients.
Among others who also spoke on the occasion were Executive Director of the BB Mohammad Masum Kamal Bhuiyan, General Manager of the FICSD AKM Amjad Hussain, Deputy General Manager of the FICSD Mohammad Mamunul Hoque and customers of different banks.
Earlier on March 28, 2011, the central bank introduced a helpdesk to safeguard the interests of customers. Later in September 2011, the helpdesk was renamed Customers' Interests Protection Centre.
To tackle the rising number of complaints, the BB in July 2012 transformed the centre into an independent department styled FICSD.
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