The agent of an Agent Banking Outlet arranges ‘Uthan Boithok’ with support from the district level Agent Banking officials. BRAC Bank has organized 5 Uthan Boithoks to date in different districts.
Selim RF Hussain, the Managing Director and CEO of BRAC Bank, said: “BRAC Bank was found to spearhead financial inclusion in the country and Agent Banking is one of our key channels to achieve that goal. Starting in 2018, we have one of the fastest-growing Agent Banking networks in Bangladesh”.
Nazmur Rahim, BRAC Bank’s Head of Alternate Banking Channel, said: “Uthan Boithok is a unique initiative to enhance financial awareness and enrich people’s knowledge about the bank and banking. They are more inspired when they get to learn together about our products and services i.e., DPS, FDR, overseas remittance processes and opening accounts. It is encouraging to see that the people are participating and contributing more to the economy.”
The Agent Banking field officials along with BRAC Bank’s respective Branch Managers and other branch officials as well as the SME Unit Office representatives participate in the ‘Uthan Boithok’ programme and discuss the rules and benefits of banking through Agent Banking outlets.
Agent banking is defined as the banking service provided outside of regular bank branches by engaged agents under a valid agency agreement. It was first introduced in Bangladesh by Bangladesh Bank in 2013.