Banaripara: A trading hub going without banking

Banaripara of Barishal division is a growing trading hub in the southern region of the country. Small and medium enterprises (SMEs) based on betel leaf, betel nut and coconut have been growing in the area over the years. But the lack of a branch of a commercial bank is a major impediment to sustaining such growth in trade.
The nearest branch of Janata Bank is located 7.0 km away and as a result people living at Banaripara face difficulty with their banking transactions. If a branch of the state-owned Janata Bank is opened at Banaripara, it could be beneficial for both local businesses and the bank concerned.
Since financial inclusion is a core issue in Bangladesh's economic arena, opening of such a branch of a state-owned commercial bank in the area can play an important role in accelerating the growth in businesses and economy.
Locally-grown agro-products like betel leaf, betel nut and coconut are supplied to Chattogram, Rajshahi and other places of the country from here. But the lack of access to banking prevents the local businesses from growing further. There is one branch of Janata Bank at Uzirpur and another at Nesarabad (Swarupkathi). The people there are happy with the services of the bank. So if Janata Bank opens a branch at Banaripara, it could boost the trade of this region significantly.

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