Mercantile Bank inks MoU to introduce mobile banking

Mercantile Bank Limited has taken an initiative to introduce mobile banking with a view to reaching banking services to the rural people. In this connection, the bank signed a memorandum of understanding (MoU) with Local Government Division (LGD) and UNDP supported Access to Information (A2I) Programme of the Prime Minister's Office in the city Thursday, reports BSS. National Project Director of the A2I Programme Md Nazrul Islam Khan, Additional Secretary of LGD Syed Mahbub Hossain and Managing Director of Mercantile Bank AKM Shahidul Islam signed the MoU on the behalf of their respective organisations. Chairman of Mercantile Bank Abdul Jalil MP, officials of the A2I Programme and other organisations concerned were present at the signing ceremony. Speaking on the occasion, the National Project Director of the A2I Programme said the union information service centres (UISCs) have been set up in 4501 Union Parishads across the country to bring rural people under the information technology network for developing their lives and livelihood. In line with the government's plan to build digital Bangladesh as charted out in the Vision 2021, he said the government is adding different services to the UISCs to bring significant changes in the living standard of the rural people. Only one in 10 people has access to the banking services in the country, he said adding that introduction of mobile banking through UIScs would open a new chapter in the banking services to cover the rural people. Mr Jalil described the signing of MoU as an epoch making step for providing banking facilities to the rural people to accelerate the pace of building digital Bangladesh. Most of the rural people have no access to banking services, Mr Shahidul said adding it is possible to bring them under banking services by introducing branchless banking system through mobile banking. According to the MoU, Mercantile Bank will introduce mobile banking from 50 UISCs as pilot programme to provide banking facilities to the grassroots level in the country. The remaining UISCs will be brought under the programme in phases. All banking facilities including opening of bank account, withdrawal and depositing of money and receiving remittances will be available through the mobile banking.