Banks asked to prepare citizen charter on services

The Bangladesh Bank yesterday asked banks to draw up citizen charter such that clients are able to get financial services smoothly. The citizen’s charter is a document of commitments made by either government or private organisation to the citizens or client groups in respect of the services being provided to them or to be provided to them. Banks will have to attach all types of their services offered to the commoners to the citizen charter. They will have to categorise their services targeting the age groups of clients. The charge, fees and commission of the services will have to be mentioned in the charter. In addition, the lenders will have to mention the requited time of providing respective service to ordinary people.

The charter will also inform clients about the measures they can take if they do not get the desired services from lenders.

Source: https://www.thedailystar.net/business/economy/news/banks-asked-prepare-citizen-charter-services-3139586

Internet banking transactions double in July

Internet banking transactions nearly doubled to Tk 23,548 crore in July compared to a year earlier, central bank figures showed as more people in Bangladesh are using computers and mobile apps to access various financial services. It stood at Tk 12,768 crore in the same month in 2021. July’s internet banking transactions amount, however, were slightly lower than Tk 23,770 crore in June, according to the Bangladesh Bank. Internet banking, popularly known as online banking, allows users to conduct financial transactions via internet and offers customers almost every service traditionally available through a local branch including deposits, transfers, and online bill payments. Introduced in Bangladesh by Standard Chartered two decades ago, internet banking has grown at a faster clip in the country since then.

Source: https://www.thedailystar.net/business/economy/news/internet-banking-transactions-double-july-3139596

Singer BD to invest $78m in N’ganj EZ

Singer Bangladesh Limited will invest US$78 million in Bangladesh Special Economic Zone (EZ) in Araihazar, Narayanganj, as it formally launched construction of its product-manufacturing plant on Monday. Singer Bangladesh, whose major share is owned by Turkish conglomerate Arcelik, is likely to start production at this plant by the end of next year – 2023, said Bedoura Farhana, head of marketing communication of Singer Bangladesh. Singer, which currently assembles different home appliances for Bangladesh, will produce 90 per cent of its required products for Bangladesh at the proposed unit at the economic zone in Araihazar. The Turkish conglomerate Arcelik, a subsidiary of Koc Holding in Turkey, is a leading global player in the home appliance industry, with 21 manufacturing facilities in eight countries across the world.

Source: https://thefinancialexpress.com.bd/economy/singer-bd-to-invest-78m-in-nganj-ez-1665456140