Janata Bank expands NRB banking beyond capital city
Friday, 24 April 2009
FHM Humayan Kabir
The country's second largest state-owned bank, Janata bank, will open six booths outside the capital by June next for encouraging the expatriates to send their remittances to the country by providing them exclusive services, the bank's chief said Thursday.
"We'll open six new booths outside Dhaka city to provide service to the remitters. It will attract the migrants to send more money to the country," Chairman of the Janata Bank Suhel Ahmed Choudhury told the FE.
He said: "We want to open windows of opportunity for the non-resident Bangladeshis (NRBs). We will provide advisory services on their business and investment plans here."
The Bank will set up the exclusive NRB booths in Sylhet, Chittagong, Patia (Chittagong), Moulavibazar, Beanibazar (Sylhet) and Biswananth (Sylhet) by June this year.
Janata bank started exclusive banking services for the expatriates by setting up the country's first NRB branch in the capital's Motijheel area and another three exclusive booths at Gulshan, Dhamondi and Uttara in December last year.
The state-owned Janata Bank, corporatized in November 2007, is the fourth largest remittance earner in the country after Islami Bank, Sonali Bank and Agrani Bank and employs 13,379 people operating through 849 branches, including four overseas branches.
It received $606 million as remittance until November 2008.
In the first nine months (July-March) of current FY2009 over 6.3 million migrants has sent remittances worth $7.0 billion, a 34 percent jump over the same period of the previous FY2008.
Total remittance in 2007-08 was $7.9 billion and $6 billion in 2006-07.
"We'll expand more in the coming days to channel more remittances through our bank. We will extend our NRB banking facilities in different areas in and outside the capital," Mr. Suhel Choudhury said.
He said, "As the Sylhet and Chittagong region are the country's major hub of remittance earnings, we have decided to set up the NRB booths in those areas primarily aimed at channeling more foreign funds and ensure secured investment of the NRBs."
"We will offer the NRBs to open 'Advance Benefit Account' at our NRB booths providing interests of one year in advance," the bank chairman said.
The state-owned bank has arrangement with 42 foreign firms mostly situated in middle-eastern countries. Those firms collect remittances from the Bangladeshi workers and send those through the Janata Bank.
The country's second largest state-owned bank, Janata bank, will open six booths outside the capital by June next for encouraging the expatriates to send their remittances to the country by providing them exclusive services, the bank's chief said Thursday.
"We'll open six new booths outside Dhaka city to provide service to the remitters. It will attract the migrants to send more money to the country," Chairman of the Janata Bank Suhel Ahmed Choudhury told the FE.
He said: "We want to open windows of opportunity for the non-resident Bangladeshis (NRBs). We will provide advisory services on their business and investment plans here."
The Bank will set up the exclusive NRB booths in Sylhet, Chittagong, Patia (Chittagong), Moulavibazar, Beanibazar (Sylhet) and Biswananth (Sylhet) by June this year.
Janata bank started exclusive banking services for the expatriates by setting up the country's first NRB branch in the capital's Motijheel area and another three exclusive booths at Gulshan, Dhamondi and Uttara in December last year.
The state-owned Janata Bank, corporatized in November 2007, is the fourth largest remittance earner in the country after Islami Bank, Sonali Bank and Agrani Bank and employs 13,379 people operating through 849 branches, including four overseas branches.
It received $606 million as remittance until November 2008.
In the first nine months (July-March) of current FY2009 over 6.3 million migrants has sent remittances worth $7.0 billion, a 34 percent jump over the same period of the previous FY2008.
Total remittance in 2007-08 was $7.9 billion and $6 billion in 2006-07.
"We'll expand more in the coming days to channel more remittances through our bank. We will extend our NRB banking facilities in different areas in and outside the capital," Mr. Suhel Choudhury said.
He said, "As the Sylhet and Chittagong region are the country's major hub of remittance earnings, we have decided to set up the NRB booths in those areas primarily aimed at channeling more foreign funds and ensure secured investment of the NRBs."
"We will offer the NRBs to open 'Advance Benefit Account' at our NRB booths providing interests of one year in advance," the bank chairman said.
The state-owned bank has arrangement with 42 foreign firms mostly situated in middle-eastern countries. Those firms collect remittances from the Bangladeshi workers and send those through the Janata Bank.