E Banking Products in Bangladesh

In: Business and Management

Submitted By raufunali
Words 1146
Pages 5
E-banking product available in Bangladesh
E-banking product and services can include wholesale products for corporate customers as well as retail and fiduciary products for individual customers. Ultimately the product and services obtained through internet banking may mirror product and services offered through other bank delivery channels. A brief description of e-banking products are described below
Automated teller machine:
An automated teller machine (ATM) is a computerized telecommunication device that provides a financial institution’s customers with a method of financial transaction in a public space without a need for a human clerk or a bank teller.
Debit card:
A debit card is a plastic card which provides an alternative payment method to cash. While making purchases. The amount of a transaction is typically displayed on a card reader, after which the customer swipes the card and enters the pin number. There is usually a short delay while the EFTPOS (electronic fund transfer at point of sale) terminal contact the computer network (over a phone line and mobile connection) to verify the authorize the transaction.
Credit card:
A credit card is a system of payment named after the small plastic card issued to users of the system. A credit card is different from a debit card in that it does not remove money from the user’s account after every transaction. In the case of credit card the issuer lends money to the customer. It is also different from a charge card though this name is sometimes used by the public to describe credit cards. This requires the balance to be paid in full each month. In contrast the credit card allows the customer to revolve their balance at the cost of having interest charged.
Credit card facility fully can not be extended in the country, as common gateway between financial institutions can not be established. Pricing…...

Similar Documents

E-Banking

...DEFINITION OF E-BANKING Electronic banking, also known as electronic funds transfer (EFT), is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash. You can use electronic funds transfer to: 0. Have your paycheck deposited directly into your bank or credit union checking account. 1. Withdraw money from your checking account from an ATM machine with a personal identification number (PIN), at your convenience, day or night. 2. Instruct your bank or credit union to automatically pay certain monthly bills from your account, such as your auto loan or your mortgage payment. 3. Have the bank or credit union transfer funds each month from your checking account to your mutual fund account. 4. Have your government social security benefits check or your tax refund deposited directly into your checking account. 5. Buy groceries, gasoline and other purchases at the point-of-sale, using a check card rather than cash, credit or a personal check. 6. Use a smart card with a prepaid amount of money embedded in it for use instead of cash at a pay phone, expressway road toll, or on college campuses at the library's photocopy machine or bookstores. 7. Use your computer and personal finance software to coordinate your total personal financial management process, integrating data and activities related to your income, spending, saving, investing, recordkeeping, bill-paying and taxes, along with......

Words: 12904 - Pages: 52

Islamic Banking System in Bangladesh

...AMERICAN INTERNATIONAL UNIVERSITY BANGLADESH A Report submitted in partial fulfillment of the degree of Bachelor in Business Administration (BBA) REPORT TOPIC: Islamic Banking System in Bangladesh Course name: INTRO. TO BEHAVIORAL SCIENCE Section: F (BBA) Course Instructor: MOHAMMAD MOSTOFA JAMAN Faculty of Business Administration Department of BBA American International University-Bangladesh Group Members Name and ID: 1. Nahar Tanjin 2. Nibir Md. Nahidul Islam 3. Niger Farzana 4. Hossain Mohammad Saddam 5. Mustasin Abdullah Al Date of Submission: 13th December, 2011 SOCIAL ISLAMI BANK LTD. A Joint Venture Islamic Bank SOCIAL ISLAMI BANK LIMITED 15, Dilkusha Commercial Area Dhaka-1000 Bangladesh Phone: 880-02-9559014, 9557499, 9568275, 9565647 Fax: 9568098 E-mail: info@sibl-bd.com ceo@sibl-bd.com URL: www.siblbd.com Webmail: mail.sibl-bd.com LETTER OF TRANSMITTAL 13TH December, 2011. MOHAMMAD MOSTOFA JAMAN Faculty of Business Administration Department of BBA American International University-Bangladesh Subject: Submission of the report on Islamic Banking System in Bangladesh. Dear Sir, Following your instruction we have prepared a......

Words: 3166 - Pages: 13

E Banking

...Project of E-Banking DEFINITION OF E-BANKING Electronic banking, also known as electronic funds transfer (EFT), is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash. You can use electronic funds transfer to: •Have your paycheck deposited directly into your bank or credit union checking account. •Withdraw money from your checking account from an ATM machine with a personal identification number (PIN), at your convenience, day or night. •Instruct your bank or credit union to automatically pay certain monthly bills from your account, such as your auto loan or your mortgage payment. •Have the bank or credit union transfer funds each month from your checking account to your mutual fund account. •Have your government social security benefits check or your tax refund deposited directly into your checking account. •Buy groceries, gasoline and other purchases at the point-of-sale, using a check card rather than cash, credit or a personal check. •Use a smart card with a prepaid amount of money embedded in it for use instead of cash at a pay phone, expressway road toll, or on college campuses at the library's photocopy machine or bookstores. •Use your computer and personal finance software to coordinate your total personal financial management process, integrating data and activities related to your income, spending, saving, investing, recordkeeping, bill-paying and taxes, along with basic...

Words: 12927 - Pages: 52

Merchant Banking in Bangladesh

...An article on Merchant Banking in Bangladesh: A Case Study on Prime Finance & Investment Ltd Abstract Prime Finance & Investment Limited has been running its merchant banking operations for about fourteen years. In this short period of time it has gained great momentum and expanding at a fascinating rate. However, the growth can be best evaluated by considering the financial factors as well as its operations. Capital market of Bangladesh is yet to play its potential role as a vehicle for financing long term investment. However, the hangover of an unpalatable historical past which saw a dramatic upsurge in the second half of 1996 only to be followed by a drastic and prolonged downswing has been successfully overcome. Discernible signs of renewed vitality have emerged. A number of actions have been considered by strategists to add depth to the market. Merchant banking, these days has been showing the path to achieve these goals. Although the concept is not too old in this country, its potential of meeting diverse challenges of capital market is high. This report emphasizes on the operations of Merchant Banking Division of Prime Finance & Investment Limited. It is aimed to achieve an overview on the operations of this division and measure how effective and efficient it has been in its working process. Keyword Prime Finance & Investment Limited, Merchant Banking, CDBL, DSE, SEC, TESA Merchant Banking Merchant banking is an emergent sector in the......

Words: 6320 - Pages: 26

E-Banking

...| E – COMMERCE STRATEGY–CMH520 | GROUP WORK | JENNIFER KIUGUEVANS ODERO 1009983E-Banking"Discuss E-banking". | Table of Contents 1. INTRODUCTION 2 2. History of E-Banking 3 3. Forms of e-banking 4 i. Automated Teller Machines (ATM): 4 ii. Mobile/SMS Banking: 4 iii. Smart Card/Debit Card: 5 iv. Internet Banking/ Online Banking: 5 v. Self Service PC Banking: 6 4. Why the drive towards e-banking 7 REFERENCES 11 1. INTRODUCTION E-banking is defined as a fully automatic service for traditionally banking customer’s products based on information technology platforms. E-banking services provide customer access to accounts, the ability to move their money between different accounts or making payments via e-channels. The advantages generated by this services have determined an accelerate developing of this industry over the entire world. E-banking relies heavily on information and communication technology (ICT) to achieve its promise for 24 hours availability, low error rates and quicker delivery of financial services Initially, e-banking was limited to phone banking operations and remote banking, but the range of services has increased thanks to the technological advances, the spread of online banking has coincided with the spread of high-speed broad and connections and the increasing maturation of the internet user population. 'Electronic Banking is the use of a computer to retrieve and process banking data and to initiate transactions...

Words: 2243 - Pages: 9

Assignment on E Banking

...2 E-Banking Tools 2 ATM 2 Mobile banking 3 Credit Card 3 Objectives of the Study 3 Methodology of the study 3 Data Source: 3 Sampling Plan: 4 Research Hypotheses: 4 Limitations of the study and further agenda for research 4 Literature Review 5 Findings 6 Using e-banking tools are easy and convenient 6 Using e-banking tools are safe 8 Transaction of money is easy with E- banking tools. 10 Privacy protection provided E-banking tools 12 Regression (ATM) 14 Regression (Internet Banking) 17 Regression (Mobile Banking) 19 Problems in E-Banking in Bangladesh 22 Grievance Settlement in e-banking 22 Increased Customer Expectations in e-banking 22 Security Problems Solving 23 Capacity/Scalability related Problems 23 Commonly Used Procedures of Handling Grievance 23 Internal Machinery to Handle Customer Complaints 24 Recommendations 25 Conclusion 25 Part-A Introduction: This is an era of electronic banking. E-banking refers to systems that enable bank customers to access accounts and general information on bank products or services through a computer or other intelligent device. E-banking offers speedier, quicker and dependable services to the customers for which it may relatively satisfy better than manual banking system. The rationale of this report is to recognize the impact of variables of e-banking on customer pleasure in Bangladesh. Gradually electronic banking is gaining much importance in Bangladesh. Customers‟ liking is necessary for the banking......

Words: 6931 - Pages: 28

Mobile Banking in Bangladesh

...Mobile Banking in Bangladesh g GOVT. TOLARAM COLLEGE 2015 A Study On “Mobile Banking System in Bangladesh” Prepared By Sheikh Shamcur Rahman (Tusher) Bachelor of Business Administration Faculty of Business & Economics Daffodil International University E-Mail: tusherdiu@yahoo.com Web: www.purnotabd.weebly.com www.daffodilvarsity.edu.bd Acknowledgemt Acknowledgement First of all, I want have directly to give all the praise to almighty Allah. I am indebted to them who helped us in conducting of the report. Specially, I am grateful to my supervisor Nazmun Nahar madame who , assigned me to prepare the term paper on health sector analysis of Bangladesh. Finally , I would like to express thanks to my cordial supervisor and my classmates. I am also grateful to the authority and other students of economics department and other various sources for collecting the valuable information. Mohammad Kabir Hossain Roll No: 9572525 Regi No: 1612908 Table of content Tropic | Page No | Acknowledgement | 02 | Table of content | 03 | Introduction part | Executive Summary of the Report | 04 | Objective of the report | 05 | Methodology of the Report | 05 | Literature Review | 07 | Introduction of the Report | 08 | Analysis Part | Mobile Banking Background | 11 | Challenges for a Mobile Banking Solution | 14 | History of Mobile......

Words: 8904 - Pages: 36

Banking Industry in Bangladesh

...Banking Industry in Bangladesh: Bangladesh is a third world country with an under developed banking system, particularly in terms of the services and customer care provided by the government run banks. Recently the private banks are trying to imitate the banking structure of the more developed countries, but this attempt is often foiled by inexpert or politically motivated government policies executed by the central bank of Bangladesh, Bangladesh Bank. The outcome is a banking system fostering corruption and illegal monetary activities/laundering etc. by the politically powerful and criminals, while at the same time making the attainment of services or the performance of international transactions difficult for the ordinary citizens, students studying abroad or through distance learning, general customers etc. The banking industry composed of 4(four) state owned commercial banks, five specialized banks, thirty nine private commercial banks, and nine foreign commercial banks. Banking Industry explained by Porter’s 5 factors: Michael E. Porter developed Five factors that act together to determine the nature of competition within an industry that affect a business ability to compete.  These are: * Threat of new entrants to a market * Bargaining power of suppliers * Bargaining power of customers /buyers * Threat of substitute products * Degree of competitive rivalry They are discussing below: * Threat of new entrants to an industry In the banking...

Words: 3088 - Pages: 13

E Banking

...PROJECT OF E-BANKING DEFINITION OF E-BANKING Electronic banking, also known as electronic funds transfer (EFT), is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash. You can use electronic funds transfer to: •Have your paycheck deposited directly into your bank or credit union checking account. •Withdraw money from your checking account from an ATM machine with a personal identification number (PIN), at your convenience, day or night. •Instruct your bank or credit union to automatically pay certain monthly bills from your account, such as your auto loan or your mortgage payment. •Have the bank or credit union transfer funds each month from your checking account to your mutual fund account. •Have your government social security benefits check or your tax refund deposited directly into your checking account. •Buy groceries, gasoline and other purchases at the point-of-sale, using a check card rather than cash, credit or a personal check. •Use a smart card with a prepaid amount of money embedded in it for use instead of cash at a pay phone, expressway road toll, or on college campuses at the library's photocopy machine or bookstores. •Use your computer and personal finance software to coordinate your total personal financial management process, integrating data and activities related to your income, spending, saving, investing, recordkeeping, bill-paying and taxes, along with basic...

Words: 12900 - Pages: 52

Online Banking in Bangladesh

...Chapter 1 1.1 Introduction Internet Banking is growing popular day by day in Bangladesh. A number of private as well as local banks are going online now considering the demand and necessity of fast banking. Internet banking not only provides banking facility round the clock but also helps a country to get attached to the international economy as well as business. People throughout the world are now getting engaged with more activity and business and hence need the fast and anytime access to his/her bank account. Internet banking also facilitates buying and selling various products which varies country to country. In Bangladesh many banks have launched Internet Banking. Amongst those HSBC, City Bank, BRAC Bank, Bank Asia, Jamuna Bank, Janata Bank, Southeast Bank, AB Bank, First Security Bank, Mercantile Bank, Premier Bank etc are in action already. Some are known as online banking, some are Internet Banking, providing various facilities. Like City Bank has the facility of account check and statement print including query about cheque book information. Bank Asia has almost same facilities but with addition they have internal fund transfer facility along with bill payment and mobile phone recharge which are, in fact quite handy. Mercantile bank has a schedule for internet banking. It is Sunday to Thursday, 9am-3pm. They have the facility of money transaction, deposit and withdrawal though they charge a particular amount for each transaction according to their policy, it is a...

Words: 6383 - Pages: 26

Banking in Bangladesh

...1.1 Introduction Standard Chartered Bank first started its acquiring services in Bangladesh for Visa International in1988 and then Master Card in 1991. At that point of time, ANZ Grindlays Bank had only a few premium Merchants (e.g., Pac pacific Sonargaon, Dhaka Sheraton Hotel & Aarong) to facilitate the card acceptance for the tourist and expertise in Bangladesh. Now after years together of technological expansion, the prosperity of business lies in the adherence of more technological facilities. Business man slowly grabbed this idea in Bangladesh. More young people joined the queue in business, more advancement in technological use. At present the scenario has changed more people want to facilitate EFT POS in their premises. Standard Chartered Bank, pioneer in EFT POS service has got their trend to make it popular and secure. From the merchants view point it will serve them safe accounts transactions and it will also protect them from the risk of carrying money. They can call the bank, supporting agency for the POS for their calculations. In this case study it will be described elaborately. 1.2 Back Ground of Study The study is leading from a succession of events where people first started dreaming of transferring money without carrying it physically. The dream came into reality with the advancement of science. The invention of Electronic fund transfer point of sales (EFT POS) device and its worldwide adaptation. 1.2.1 POS Machine and its......

Words: 4007 - Pages: 17

E-Banking

...Title: E-Commerce Course Code: 435 An assignment prepared as a part of BBA program by the students of 4th year 2nd Semester, under direct supervision of Mohammad Mizenur Rahman, Assistant Professor, Department of Business Administration, Shahjalal University of Science and Technology, Sylhet-3114. Assignment on: A Comparative Study on E-banking: A Study on Web information of Agrani Bank Ltd. & Mercantile Bank Ltd. Submitted to: Mohammad Mizenur Rahman Assistant Professor Department of Business Administration Shahjalal University of Science and Technology Sylhet-3114 Submitted By: Name Registration No. Subrata Ray 2007731005 Shams Md. Safwan Radi 2007731041 4th year 2nd Semester Department of Business Administration Shahjalal University of Science and Technology, Sylhet. Date of Submission: 1st January, 2012. A Comparative Study on E-banking: A Study on Web information of Agrani Bank Ltd. & Mercantile Bank Ltd. Electronic banking is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and-mortar institution. In other words electronic banking does not mean only 24-hours access to cash through an Automated Teller Machine (ATM) or through internet or Direct Deposit of pay checks into checking or savings accounts as many consumers may think. Electronic banking (e-banking) involves many different types of transactions; it is a form of banking......

Words: 3884 - Pages: 16

E Banking

...Chapter 1: - E-Banking [pic] ➢ 1.1 Introduction of E-Banking ➢ 1.2 Meaning of E-Banking ➢ 1.3 Functions of E-Banking ➢ 1.4 Types of E-Banking ➢ 1.5 Advantages of E-Banking ➢ 1.6 Limitations of E-Banking 1. Introduction of E-Banking: - The acceleration in technology has produced an extraordinary effect upon our economy in general has had a particularly profound impact in expanding the scope and utility of financial products over the last ten years. Information technology has made possible the creation, valuation, and exchange of complex financial products on a global basis and even that just in recent years. Derivatives are obviously the most evident of the many products that technology has inspired, but the substantial increase in our calculation has permitted a variety of other products and, most beneficially, new ways to unbundled risk. What is really quite extraordinary is that there is no sign that this process of acceleration in financial technology is approaching an end. We are moving at an exceptionally rapid pace, fueled not only by the enhanced mathematical applications produced by our ever rising computing capabilities but also by our expanding telecommunications capabilities and the associated substantial broadening of our markets. All the new financial products that have been created in recent years......

Words: 10366 - Pages: 42

E-Coomerce of Bangladesh

...ASSIGNMENT ON E-COMMERCE IN BANGLADESH Submitted To: Submitted by: Table of Contents Ecommerce .....................................................................................3 History of E-Commerce....................................................................3 Why e-Commerce for Bangladesh……………………………………………….4 Traditional and Electronics Business Transaction ............................5 Traditional Commerce vs e-Commerce............................................3 Dimensions of E-Commerce .............................................................6 Business to consumer(B2C) ..................................................7 Business to Business (B2B) ...................................................7 Business to Government(B2G) ..............................................7 Benefits of E-Commerce ...................................................................7 e-Commerce in Different Sector in Bangladesh ................................8 Overview of implementation stage of e-Commerce in Bangladesh 8 Some e-Commerce shop in Bangladesh ............................................9 The impact of e-Commerce ...............................................................9 Constraints to E-Commerce in Bangladesh......................................10 Challenges of E-commerce for Bangladesh......................................11 Recommendations………………………………………………………………………11 Conclusion........

Words: 2763 - Pages: 12

E-Banking in Bangladesh: an Exploratory Study on How the Banks Are Adopting with E-Banking

...E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking Prepared for: Mr. Shubhankar Shil Assistant Professor School of Business Administration University of Liberal Arts Bangladesh Course Teacher Insurance and Leasing Prepared by: Muntasir Rashid Khan Student ID. 1268 BBA Program (1st Batch) Department of Finance & Banking JahangirnagarUniversity Savar, Dhaka-1342 March 08, 2012 Letter of Transmittal March 08, 2012 Mr. Shubhankar Shil Assistant Professor School of Business Administration University of Liberal Arts Bangladesh Subject: Submission of Term Paper Dear Sir: I have great pleasure to submit my required term paper on E-banking in Bangladesh: An exploratory study on how the banks are adopting with e-banking. I have provided my best effort to conduct this report. Now I am presenting my report for kind assessment and hope that it will fulfill your satisfaction. Any kind of suggestion or recommendation from your side will be highly appreciated. Thank you. Sincerely yours, |..................... | | | |Muntasir Rashid Khan | |Student ID. 1268 | BBA Program (1st Batch) Department......

Words: 6509 - Pages: 27