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Dhaka Tribune

Experts: Banks should change operation mode

Country’s banking system faces unprecedented challenges as the ongoing pandemic has wreaked havoc on the economy, opines BMCCI president

Update : 26 Jul 2020, 12:05 AM

Experts at a discussion on Saturday urged banks to change their mode of operation from the traditional system to a centralized system to fulfil customers’ banking needs during the new normal and after the pandemic.

They made the call at the BMCCI Web Talk Series, Session 8, titled Pandemic and Banking in Bangladesh, powered by ROBI, said a press release.

President of the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) Raquib Mohammad Fakhrul gave the welcome speech while Managing Director and CEO of Mutual Trust Bank Limited (MTB) Syed Mahbubur Rahman spoke on the occasion.

Raquib Mohammad Fakhrul said the country’s banking system now faces unprecedented challenges as the ongoing pandemic has wreaked havoc on the economy.

“Economic problems, when they fester and get compounded, affect social cohesion. This new reality is making senior bank executives anxious because the prognosis for the foreseeable future concerning a range of performance metrics, including profitability, liquidity, and capital, is not good,” he added.

Syed Mahbubur Rahman said currently the banking sector is struggling hard with non-performing loans, declining margins in a capped interest rate regime, deteriorations in various efficiency indicators, government directed restructuring of loans, and declining demand for loanable funds.

He said now it is time for all other banks to change their mode of operation from the traditional system to a centralized operation system to fulfil customers’ baking needs during the new normal and after the pandemic.

“Majority of the banking can be done from home if we are ready to adopt the virtual banking in this pandemic through reducing paperwork, offering individual digital products, by educating customers, implementing electronic signature, electronic transaction and payments, building interconnected network, electronic channel, digital recording and archive etc.,” he added.

He laid emphasis on increasing the withdrawal limit from ATM booths and advised to pay instalment and credit card bills through mobile banking account.

He hoped these efforts would be highly effective to keep the banks less crowded and safe for both the clients and bankers. 

Among others, former BMCCI president Syed Moazzam Hossain and BMCCI Secretary General Mahbubul Alam also spoke.

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