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Report On
Internet Banking in Bangladesh

Submitted to:
Islami Bank Training and Research Academy (IBTRA)

Prepared by:

Male Group 04
Roll No. Name of Group Members Name of University

144216 Sha Md Yousuf Southeast University

144217 Ratikul Alam Ratul Dhaka International University
144218 Md. Sajid Siddiki Daffodil International University
144219 Kawshik Paul International University of Business
Agriculture and Technology
144220 Wasifur Rahman Anik Stamford University
144221 Anto Kumar Das ASA University Bangladesh
144222 Nayon Pal ASA University Bangladesh
144223 Ariful Haque North South University
144224 Md. Khalid Hasan American International University-
Bangladesh (AIUB)
144225 Md. Nuruzzaman Jagannath University

Date of Submission: 06th December, 2020

Acknowledgement

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First of all, we would like to convey our sincere thanks to ALLAH because Allah has
given us the opportunity to complete our internship. The Almighty for whom we are
living in this beautiful world and able to conduct our works. Off course, we acknowledge
the support & assistance given by a number of people. We are grateful to many
individuals for the completion of the report successfully. Islami Bank Bangladesh limited
provided enormous support & guidance for our internship program.

We would like to thank the Course Director K.M. Rahmatullah (FAVP & Coordinator) sir
and Sadia Afroze (JO & Coordinator) mam; for giving us the opportunity to know about
IBBL, support & direction to make this report. We profoundly grateful to Md. Motiar
Rahman, Prof. Dr. Farid A. Sobhani, S.M. Rabiul Hassan, Md. Habibur Rahman, Md.
Ashraful Alam, Md. Abdullah Sharif, Md. Abul Kalam Azad, Fahmida Sultana, Dr.
Manzur-E-Elahi, Dr. Md. Mizanur Rahman, Md. Abdullah, Md. Arifur Rahman, Md.
Akhter Hossain, Md. Mahmudul Hasan, Md. Abdul Mannan, Dr. Md. Mahabbat Hossain,
K.M. Munirul Alam Al-Mamoon, Mohammed Shabbir, Md. Shahidul Alam, K.M.
Munirul Alam Al-Mamoon, Muhammad Zillur Rahman Al Mahmud, Md. Motahar
Hossain Mollah, Md. Altaf Hossain, Md. Nurul Islam Sohel, Md. Mostafizur Rahman
Siddique, Hosne Ara, Muhammad Zillur Rahman Al- Mahmud, Md. Arifur Rahman,
Md. Shamsuddoha sir for their lesson which are priceless for not only our internship but
also for our future. We will be very grateful to all of you.

I would also like to take this opportunity to express our whole hearted gratitude to our
fellow internship friends near and dear ones who faired encouragement, information,
inspiration and assistance during the course of constructing this internship report.

Executive Summary

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The report emphasizes on the “An Analysis of the E-Banking Services in Bangladesh, a study on

Islami Bank Bangladesh Limited. The online banking system will typically connect to or be part

of the core banking system operated by a bank and is in contrast to branch banking which was the

traditional way customers accessed banking services.

In this report we tried to put some light on the internet banking of few of our top commercial

banks and compare their performance in the market.

This report contains five chapters. The primary chapter of the report portrays the early on

expressions of the entry level position report in which Introduction of Internet Banking,

subsequent

chapter contains various types of services of internet banking provided by the established banks of

Bangladesh. Chapter three contains details of few banks’ internet banks pros and cons. In chapter

four we compare few important services among the discussed banks and finally in the last chapter,

chapter five we conclude our report with our findings and recommendations.

Online banking, the latest generation of electronic banking transactions, opened up new

window of opportunity to the existing banks and financial institutions. Most of the banks

have their own websites but not all of them offered internet facilities. With the proper

guidelines of the government, with the help of public and private banks along with the

engagement of mass learned people internet banking will be more productive in our

country.

Table of Contents

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Part Page
Contents

01 Introduction 07 – 10

02 Various Type of Internet Banking Services 11 – 12

03 Internet Banking Sectors 13 – 73

04 Comparative Overview 74 – 75

05 Conclusion 76 - 79

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Internet Banking in Bangladesh

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 Part 01

Introduction

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INTRODUCTION
Online banking is the practice of handling all the bank transactions through internet.
We are blessed with such unique technologies where all our works gets completed
within seconds. Internet Banking is one of such technologies. With the help of internet
banking, we can deposit and withdraw amount our self directly to our account, make all
kinds of bill payments, tax payments etc. We can pay our bills like telephone, mobile,
credit cards etc. through internet just by once registering with our bank. After making
registration, we can pay our bills as and when required. Internet banking allow us to
access our account, so that we can know instantly which amount is credited or debited
in our bank account which in turn will help to solve our issues if any. It is an easier way
to transfer amount to another account to which we have to make payment to the party.
When we apply for internet banking, bank provides us with login id and password. The
password provided by the bank should be changed immediately and should not be given
to anybody else. The password should be alpha-numeric and should be changed on
frequent basis. This information must be kept at utmost secret, as the password can be
hacked by any person. 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 Etc.

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Online Banking:

Banks are considering online banking as a powerful “value added” tool to attract and
retain new customers while helping to eliminate costly paper handling and teller
interactions in an increasingly competitive banking environment. Online banking
(Internet banking) is a term used for performing transactions, payments etc. over the
internet through a bank’s secure website. This is very useful especially outside banking
hours. In most cases a web browser such as Internet explorer or Netscape Navigator is
utilized and any normal internet connection is suitable. No special software or hardware
is usually needed.

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 The History of Internet Banking:
The concept of Internet banking has been simultaneously evolving with the development
of the world wide web. Programmers working on banking data bases came up with ideas
for online banking transactions, sometime during the 1980s. The creative process of
development of these services were probably sparked off after many companies started
the concept of online shopping. The online shopping promoted the use of credit cards
through Internet. Many banking organizations had already started creating data ware
housing facilities to ease their working staffs. The development of these databases was
widely used during the development of ATM’s.

Sometime in 1980s, banking and finance organizations in Europe and United States
started suggestive researches and programming experiments on the concept of ‘home
banking’. Initially in the 80’s when computers and Internet were not so well-developed,
‘home banking’ basically made use of fax machines and telephones to facilitate their
customers. The widespread of Internet and programming facilities created further
opportunities for development of home banking.

In 1983, the Nottingham Building Society, commonly abbreviated and referred to as the
NBS, launched the first Internet banking service in United Kingdom. This service formed
the basis for most of the Internet banking facilities that followed. This facility was not
very well-developed and restricted the number of transactions and functions that account
holders could execute. The facility introduced by Nottingham Building Society is said to
have been derived from a system known as Prestel, that is deployed by the postal service
department of United Kingdom. The first online banking service in United States was
introduced, in October 1994. The service was developed by Stanford Federal Credit
Union, which is a financial institution. The online banking services are becoming more
and more prevalent due to the well-developed systems. Though there are pros and cons of
electronic cash, it has become a revolution that is enhancing the banking sector.

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 Part 02
___________________
Various Type of Internet Banking
Services

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Internet Banking Services

 Account Information
 Add Money
 Transfer Money
 Payment
 Government services
 Add Remittance
 Mobile Recharge
 Bank Statement
 Financial Collaboration

We can operate our all-financial work via Internet Banking Services as like as following
above chart.

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 Part 03
___________________
Internet Banking Sectors

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Online Banking of SIBL
Social Islami Bank introduced its Online Banking Facilities in 2004

SIBL has been one of the pioneers in introducing Online Banking. SIBL is the 1st Islami
Bank, who introduced Online Banking Service to its clients and it covers all the 161
branches, 108 own ATMs, 2295 shared ATMs. Clients can also have access to their

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accounts through Internet & Mobile Banking. Online banking system is a great way to
reduce wastage of paper.

SOCIAL ISLAMI
2019 2018
BANK
No. of Total Branches 161 155
No. of Branches with
online coverage
161 155

Internet Banking:

SIBL NOW is an internet banking service based on mobile application to provide

the most innovative IT-based services to the clients. This electronic service of Social
Islami Bank Limited gives you the opportunity to transfer money, pay utility bills,
recharge mobile balance, pay credit card bill etc. A customer/subscriber can execute
transaction from anywhere, anytime through internet facility enabled mobile handset.

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KEY FEATURES OF SIBL NOW
  Fund transfer – Intra-bank & Interbank.

 Utility Bill Payment – DPDC, WASA, DESA, DESCO, TITAS etc.

 Credit Card Bill Payment,

 Mobile Top-up.

 Account Summary – Mini Statement, Balance Inquiry & Outstanding, Transaction

History.

 Standing Instruction for Own Account.

 Cheque Requisition, Cancellation & Status Tracking

 Investment Account Outstanding, EMI Calculator.

 SIBL Products List.

 Branch & ATM Locator.

 SMS Notification.

 PIN Change

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SIBL took THE SECURITY system in new level
Their app is managed by the most modern secured technology system which is tagged
with your device via IMEI number and you can register up to 3 devices for one SIBL
account. Besides, the use 2-step verification method for fund transfer. To ensure the
security of any online payment system customer level awareness is very important. In this
case, confidentiality of password/PIN/security code must be ensured, an easily guessable
password should be avoided and passwords should be changed at regular interval.
Security of related email ID, device, and SIM card must be ensured. The device should
not be shared. Using updated antivirus, avoiding unauthorized apps, avoiding the use of
unsecured network are important.

Users should not perform the transaction using open WIFI network and the router should
be password protected.

DEVICES that SUPPORT SIBL NOW

SIBL NOW is available on Android Operating System (Version 4.2 or above) and Apple
iOS (Version 8.0 and above). Any user having Smartphone or Tab with Android
Operating System (Version 4.2 or above) or with Apple iOS Device (Version 8.0 and
above) will be able to run this App on his/her device.

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GETTING STARTED WITH SIBL NOW
Install SIBL NOW App from App Store in your device and get started.
Pressing the SIBL NOW App icon will take you to the Home Page and there you will find
9 Menu Icons to make your task easier.

Products
You can check detailed information of SIBL products such as Deposits, Investments &
Cards etc. You can also check detailed information of business products here.

Locate SIBL
Branches and ATMs nearby can easily be located through this App. It will not only show
you the list-wise information of branches and ATMs but also show your location and the
location & distance of the Branch or ATM close to you.

EMI Calculator
Calculate Equated Monthly Instalment (EMI) for Home Loan / Housing Loan, Car Loan
& Personal Loan etc.

Merchants
SIBL Card Holders can get detailed information from here regarding the benefits they can
avail from different Merchants.  If you are a Card Holder of SIBL, you will get the
benefits related information in the following categories from here:

Electronics & Appliances:

 Airline
 Hotel & Resort
 Travel & Holidays
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 Mobile
 Computer
 Fabrics & Tailors
 Furniture & Home Decor
 Jewelry
 Restaurant
 Fashion House

e-payment:
SIBL introduced e-payment gateway to make Banking easier and smart. This gives a
person the liberty to transact online, purchase online, pay utility bills etc. This provides
enormous opportunities to perform transaction with hundreds of affiliated platforms.  

SIBL embraced Internet Banking a long ago and developing services around it. There are
e-merchants registered with SIBL and SIBL NOW mobile app. Moreover, SIBL also
provides services like BEFTN, RTGS, BACH (clearing), NPSB which are crucial in these
days.  

bKash From SIBL AC:

This service will allow SIBL account holders to transfer fund to any bKash account using
the mobile application – SIBL NOW. SIBL account holders will use the mobile app by
logging-in with SIBL i-banking user -Id & password and perform the transfer securely
with OTP verification.

The similar facility is also available in internet banking platform (web:

https://ibanking.siblbd.com). The fund transfer will take place instantly and after
successful transaction, both bKash and SIBL account holders will receive notifications.

SIBL to bKash Fund Transfer by internet banking using SIBL NOW mobile app.

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PREPARATION:
 1. SIBL Account (You need one SIBL Savings or Current Account to use SIBL
NOW - mobile app).
 2. SIBL Mobile App (SIBL NOW - version 1.3.0 or later versions) .
 3. bKash Account (bKash number of yours or beneficiaries to whom you need to
transfer fund). Please note you can transfer fund only in personal bKash Accounts
and not in merchant / agent accounts.
 4. Smart Phone (version 4.4. or later).

ICT SERVICES
SIBL always strives to provide quality of service towards valued clients with state-of-the-
art digital technology. Centralized Core Banking (CBS) solution based on Islamic Shariah
principle has been implemented to provide modern Islamic Banking with online service.
Customers gets any-branch banking service in all branches of SIBL under online banking
and they can deposit/withdraw money to/from any SIBL branch without additional
transaction fees per transaction for the online service. Agent banking, BACH, BEFTN,
RTGS etc services are introduced for allowing smooth and easy banking to meet user
requirements at current age. The bank is providing 24/7 round the clock banking facility
through Internet banking, Mobile App, ATM network.

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PAYMENT CARDS AND ATM SYSTEN
SIBL cards provide e-commerce/online shopping facilities to purchase goods and services
over internet. Customers can withdraw cash and pay bill of cell phone operators using
SIBL cards through 80 ATM booths of SIBL and thousands of ATM booths of other
banks under
Q-cash
network.
SIBL is
working for
enhancement
of ATM
service for
allowing fund
transfer, utility
bill payment etc features from ATM booths.

Limitations of SIBL Online Banking:

No one type of bank can be the best at everything. In spite of their many
advantages, there are some drawbacks to using online banks as well. Here are
some of the downsides of working with Social Islami bank:

 Some technology issues

 Security issues
 Inefficient at complex transactions
 No relationship with personal banker
 Inconvenient to make deposits

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Future plan of SIBL on internet banking:

SIBL has the plan to focus on the following areas of operation for promoting Green
Initiatives:

1. To popularize Online Banking

2. To increase Internet, SMS & Mobile Banking
3. To introduce Video Conferencing
4. To increase Efforts towards near paperless banking
5. To promote green initiatives through advertisement in print/electronic media
6. To rationalize use of consumption of paper, water, electricity and utilities
7. To reduce Emission of Carbon
8. To conserve environment
9. To protect air/water pollution.
10. To establish green building/project.

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Introduction
This study is based on customer perception of online banking. And the customers who
participate in this study as respondent are from IFIC Bank Ltd. So, it is necessary to know
the bank. This chapter discuss about the bank from different angle.

Internet Banking

This service allow customer to do some banking activities through internet from his home
or office or anywhere of the world. The services are as follows

 Check account balance

 View and verify transactions on account

 View Statement

 Print Account Summary

 Print Account Statement

 View Check-Book usage status

 View & update short profile

Historical Background of IFIC Bank

International Finance Investment and Commerce Bank Limited "IFIC Bank" came into
presence in 1976 as a joint endeavor between the Government of Bangladesh and
supports in the private segment with the target of acting as a fund organization inside of
the nation and setting up joint endeavor banks/money related Institutions abroad.

IFIC was joined as an open restricted organization with an approved capital of Tk. 20
center and paid-up capital of Tk.10 center. IFIC initiated its operation on February 28,
1977 with a Subscribed capital of Tk.5 center, contributed by driving private segment

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business visionaries in the nation. The Government held 49 percent offers and the rest 51
percent were held by the patrons and overall population.

Be that as it may, in 1983 when the Government permitted banks in the private part IFIC
was changed over into an undeniable business bank. The Investment Company has
changed into saving money organization In June 13, 1983 and began exercises from June
24, 1983 through Its Motijheel Branch.

At the earliest reference point the 60 percent offer are possessed by private business
person and 40 percent are claimed by Govt. toward the end of 1984 the approved capital
was 10 center and the paid-up capital was 7crore 15 lac Taka just.

Branches of IFIC Bank

The Bank covers by its exercises all the imperative exchanging and business focuses of
the nation. Right now, 97 branches are dynamic inside of Bangladesh. Notice to be made
that IFIC Bank has no less than 1 branch in every district areas in Bangladesh. (All about
IFIC).

Technology

Since the beginning of its journey as a commercial bank in 1983, IFIC Bank has been
giving great emphasis on the adoption of modern technology. It became the pioneer in the
field of automation by introducing computerized branch banking right in the same year.
Subsequently, all the branches were brought under similar automated platforms with
upgraded software applications to offer all the critical banking features. At present all 100
domestic branches are fully computerized under networked environment.

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The Bank has taken up a new project with Misys International Banking System Inc. (UK)
to further upgrade its banking operation to state-of-art world class on-line banking
solutions to provide faster and even more convenient centralized services to the clients.

Besides, the Bank is also operating fully on-line Automated Teller Machine (ATM)
services under the banner Q-Cash at a number of locations in Dhaka and Chittagong. The
ATM facilities are available to the customers at Q-Cash booth.

Since the importance of Web presence in the Internet is absolutely critical, IFIC Web Site
www.ificbankbd.com has long been launched for the convenience of the customers,
where all the activities and information are constantly being posted and updated. A
Central Mailing System is operational at the Head Office to let the customers have direct
electronic access to the selected staff.

Software Use by IFIC Bank

 Equation Branch Server

 Equation Branch Automation

 Trade Innovation

 Mobile Banking Management

 iBanking

 Q-cash

 VISA

 Tranzware,Compass Plus

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  Tranzware Online Switching

 Money Gram

 X-press

 Placid Express

 Coinstar Money Transfer

 SWIFT

 SWIFT Alliance

 PC CONNECT

 BexiBank4000

IFIC Aamar Bank

Simplify your life with IFIC Digital Banking.
Take complete control over your finances and manage your accounts securely and
conveniently anywhere, anytime.

Up-to-date with the latest online and mobile banking technology, our user-friendly
platform comes with the following features:

 Manage Account Balance

 Check Transaction History
 Transfer Between Own Accounts
 Send Money (IFIC)
 Send Money to Other Bank (EFT & RTGS)
 Credit Card Bill Payments (Coming Soon)

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 Set Recurring Payment
 Change Credit Card Transaction Limit
 Block a Debit/Credit Card
 Saved Transaction
 Request Cheque book
 Stop Cheque
 Bank Certificate Request
 Positive Payment Instruction
 Card Replacement Request
 Mailbox
 Branch & ATM Locator
 Currency Exchange Calculator

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BRAC Bank Limited began with the vision to provide banking solutions to the
‘unbanked’ Small and Medium Entrepreneurs. Taking inspiration from its parent
organization BRAC, the largest NGO in the world, BRAC Bank introduced small ticket
loans to the small and medium enterprises (SME), to specifically bring the grassroots
entrepreneurs under the umbrella of formal banking service. Approximately half of
BRAC Bank’s lending portfolio comprises of small and medium enterprises – popularly
known as the ‘SME’.

In 2001 BRAC Bank did not start its journey like any other conventional bank. The
visionaries who led the bank realized that the previously neglected Small and Medium
Enterprises (SME) sector plays significant role in generating growth and creating
employment in the country. Over the past few decades, traditional banks were reluctant to
invest in this sector. At a time when it was almost impossible for the SME entrepreneurs
to get financing from the banking sector in Bangladesh, BRAC Bank stepped forward and
came to finance these unbanked SME entrepreneurs.

BRAC Bank is a performance driven dynamic organization, where its values founded at
the core of each and every activity as pillars. It is the only member of the Global Alliance
for Banking on Values (GABV) from Bangladesh. The Global Alliance comprises of 48
(as of May 2018) financial institutions operating in countries across Asia, Africa,
Australia, Latin America, North America and Europe - serving more than 41 million
customers, holding up to USD 127 billion of combined assets under management and
powered by a network of 48,000 co-workers.

BRAC Bank shares the 3P Philosophy – People, Planet and Profit with the other partners
of GABV. We believe that we have responsibility towards the people we work with and
the places we operate in. As a mission-driven bank, we prefer to work for the welfare of
our people and society.

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CORPORATE VISION
Building a profitable and socially responsible financial institution focused on market and
business with growth potential, thereby assisting BRAC and its stakeholders to build a
just, enlightened, healthy democratic and poverty free Bangladesh.

CORPORATE MISSION
 Sustainable growth in Small & Medium Enterprise sector;
 Continuous low-cost deposit Growth with controlled growth in retail assets;
 Corporate Assets to be funded through self-liability mobilization;
 Growth in Assets through syndications and investment in faster growing sectors;
 Continuous endeavor to increase non-funded income;
 Keep our debt charges at 2% to maintain a steady profitable growth
 Achieve efficient synergies between the bank’s branches, SME unit offices and
BRAC field offices for delivery of remittance and the bank’s other products and
services;
 Manage various lines of business in a full controlled environment with no
compromise compliance and on service quality;
 Keep a diverse, far flung team fully motivated and driven towards materializing
the bank’s vision into reality

TERMS & CONDITIONS for BRAC Bank Internet

Banking Services

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Use of BBL Internet Banking Service is subject to the following terms and conditions
which set out the general rights and obligations of the User(s) and BRAC Bank Ltd in
connection with the use of BRAC Bank Ltd Internet Banking Service.

For the purpose of this document, “Internet Banking Services” or “I-Banking” refers to
the internet banking services provided by BRAC Bank Limited through internet or e-
commerce banking such as balance enquiry, utility bill payment, fund transfer within the
accounts of BRAC Bank Limited services etc. or other services as may be made available
by BRAC Bank Limited from time to time.

“User”, “he/she” and/or “his/her” means BRAC Bank Limited’s account holder(s)
registered to use I-Banking. “BBL” means BRAC Bank Limited, a company duly
incorporated under the Companies Act 1994 and a scheduled banking company licensed
under the Banking Companies Act, 1991, having its Head Office at 1 Gulshan Avenue,
Gulshan 1, Dhaka – 1212; and its branches or its assigns in respect of which the service
will be available.

1. APPLICATION FOR BBL INTERNET BANKING:

1.1. Singly operated account holders, Joint accountholders (operating in either or
survivor mode), or proprietorship accountholders may apply for Internet
Banking Services. In terms of joint account holders (operating in either or
survivor mode), only one of the applicants will be entitled for requesting and

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 receiving all Internet Banking associated services. The User shall apply to
BBL branches in the prescribed form and must submit at his/her presence for
use of Internet Banking Services subject to the terms and conditions stated
herein including any other terms and conditions as modified or inserted by
BBL from time to time.

1.2. To perform Internet Banking transactions, customer will be required to avail

either Hardware or Software
Token. Customer will have the option to select either Hardware or Software Token
to perform Internet Banking Transactions or he/she may choose none of these and
in such cases where customers do not choose Hardware/Software Token, customer
shall avail “View Option (Non-transactional mode)” only.

1.3. Physical presence of the customer is required at his/her chosen BRAC Bank
branches / SSSCs / SKBs for collecting Hardware/ Software Token and PIN
mailer.

1.4. Customer shall collect Hardware Token and/or PIN Mailer from his/her
selected branch within 90 days from the date, when the Hardware Token
and/or PIN Mailer is ready to collect; otherwise Hardware Token and/or PIN
Mailer will be destroyed by Bank authority for security purpose.
In such cases Bank will not be responsible for any claim after the said 90 days
period.

1.5. New Application for NRB customers:

NRB customers need to send filled up Internet Banking application form along with
valid passport copy(first 6 pages with amendment pages if available) & Driving
License / Residency Card/ PR Card (Photo ID) copy attested by Bangladesh High
Commission through International Courier to:
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Manager,
Internet Banking, Cards and Payments
Retail Banking Division
BRAC Bank Limited
Anik Tower
220/B, Tejgaon I/A,
Dhaka-1208, Bangladesh
Manager- Internet Banking, Cards & Payments is the Core contact point of NRB Internet
Banking customer.

1.6 New Application for Remittance Customers:

The customer, who is applying for Internet Banking Service while opening NEW
Remittance A/C, does not require additional document. The reason is that, A/C Opening
Document covers the entire necessary documents for Internet Banking Service.

If existing Remittance Banking customer wants to apply for Internet Banking service
from abroad, they need to send filled up Internet Banking application form along with
valid passport copy (first 6 pages with amendment pages if available) & Driving License /
Residency Card/ PR Card (Photo ID) copy attested by Bangladesh High Commission
through International Courier to: Relationship Manager (where Remittance Agent is not
available):
Relationship Manager

Remittance Services,
Retail Banking Division
BRAC Bank Limited,
Anik Tower, 220/B Tejgaon I/A, Dhaka 1208, Bangladesh

Relationship Manager, Remittance Banking Services is the core contact point of

Remittance Internet Banking customer.

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However, if Remittance Banking Agents are available in their locations and they can
confirm/authenticate "Customer's Physical Presence in front of them" on the Internet
Banking application form, Attestation by Bangladesh High Commission is not required.
However, required document i.e valid passport copy (first 6 pages with amendment pages
if available) & Driving License / Residency Card/ PR Card (Photo ID) copy has to be
submitted along with the Internet Baking application form.

1.7 BBL at its sole discretion may accept or reject any such applications. Once the
application is accepted by BBL, these Terms & Conditions shall form the contract and
govern the relationship between the User and BBL in relation to use of Internet Banking
Services.

1.8 The User needs to use a unique e-mail address and mobile number for each User
lD.

1.9 By applying for Internet Banking for the first time, the User acknowledges and
accepts these Terms & Conditions. Notwithstanding anything contained herein, all Terms
& Conditions pertaining to the accounts shall continue to apply. In the event of any
conflict between these Terms & Conditions and the Rules and Regulations governing the
User(s) account with BBL, these Terms and Conditions shall prevail with regard to BBL
Internet Banking.

2 INTERNET BANKING USERS LOG IN ACCESS,

PASSWORD & SECURITY PROCEDURES:

2.1. BBL will provide the User with unique User Identification Number (“User
ID”) and a temporary Password in the first instance through email. The
User(s) hereby authorizes and instructs BBL to email him/her the User ID
and Password relating to his/her access/log-in to the Internet Banking

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 Services to the email address given in the application at his/her own risk and
responsibility. BBL shall not be liable and responsible for hacking of your
computer where the user will receive the User ID and Password and BBL
shall not be responsible and Liable for share of User ID and Password.
2.2. The User shall log in to the internet banking by using the User ID and
Password. As a safety measure, the User shall immediately change Password
upon his/her first login. User is requested to change his/her Password
frequently thereafter to avoid any possible hacking, inherent risk or
misuse/fraudulent use of his/her account. In case of hacking/sharing of User
ID and Password BBL shall preserve the right to close the I Banking Service
without prior consent from the User, However, BBL shall preserve the right
to file a case against the User if it is observed by BBL that the User has/may
any involvement with the incident.

2.3. The User acknowledges that the Login ID (User ID) and the Password shall
act as User's authorized signature. This signature authorizes and validates
directions given just as an actual written signature does.

2.4. The User is therefore responsible for maintaining the confidentially and
secrecy of User ID and Password. User should not under any circumstances
disclose his/her User ID and/or Password to anyone, including anyone
claiming to represent the Bank or to someone giving assistance on a
technical helpdesk in connection with the service. It is clearly understood
that Bank’s employees do not need Password for any reason whatsoever.
Bank shall not be held liable in any manner or in any form whatsoever in
case of any unauthorized or fraudulent use of the User’s account through
Internet Banking Services or for loss, misplacement or fraudulent use of the
User ID and Password.

Page | 36
 2.5. 2FA Device is a Two Factor Authentication device, which generates a
random OTP (One Time Password) that acts as a second level of
authentication. After registering for BRAC Bank Internet Banking, customer
will need the 2FA Device to login to their Internet Banking accounts for
secured and successful transactions. In these particular and other associated
documents we are referring 2FA Device as “Hardware Token” or “Software
Token”. The User shall have to use the OTP generated by the
Hardware/Software token to conduct his/her Internet banking during that
session. User will solely be responsible for bearing the security of his/her
own Hardware / Software Token and registered email. BRAC Bank Limited
(BBL) shall not be liable and responsible for any compromise or hacking of
the Customer’s computer, email or the Device through which the OTP (One
Time Password) will be generated. Customers are requested to check back
the precautionary notes shared below.

Hardware Token comes with the warranty of 1 year. Device Warranty will not cover
for lost / physically damaged / permanently deactivated Hardware Tokens;

2.6. If the User gives or shares his/her User ID, Account Password or OTP to
anyone or fails to safeguard its secrecy, he/she does so at his/her own risk
because anyone with User ID and Password will have access to his/her
accounts.

2.7. User needs to call 16221 to reset password, lock or change account to non-
transactional mode of
Internet Banking (IB) status. Non resident User needs to call +880 2 55668056.

2.8. If the User’s password is lost or stolen, or is known by another individual,

he/she must notify BBL through calling in Call Center to deactivate the I-
Banking account and submit a written application at any nearest BBL
Service Outlet. BBL upon receipt of the written request from the User shall

Page | 37
 at the earliest, stop the operation of the Internet Banking Services of the
respective User account. If the Bank receives any information verbally or in
written form from anyone including the user, Bank may immediately suspend
the services in good faith for the safety and security of the user.

2.9. The User agrees and acknowledges that BBL shall in no way be held
responsible or liable if the User incurs any loss as a result of information
disclosure to any third party by the user him/herself regarding his Account(s)
or carrying the instruction of the User pursuant to the access of the Internet
Banking and the User shall fully indemnify and hold harmless BBL in
respect of the same.

Page | 38
Page | 39
HSBC in Bangladesh
HSBC opened its first branch in Bangladesh in 1996. It offers a range of financial services
in Bangladesh including commercial banking, consumer banking, global liquidity and
cash management, trade services, treasury, and custody and clearing.

Internet Services of HSBC Bank

 Security Services:
At HSBC, we constantly look for better ways to provide maximum security for our online
banking service, so that our customers can enjoy HSBC's Internet Banking with total
peace of mind. We are pleased to present our latest technology - the Security Device.

By using the Security Device to access HSBC's Personal /Business Internet Banking
service, you can be assured that your information is being protected by one of the most
sophisticated online security systems in Bangladesh.

Ensuring Online Transaction Safe & Secure: At the touch of a button, Security Device
generates a dynamic, time-sensitive Security Code. The Security Code constantly changes
and is unique to your Security Device. This Security Code is required, in addition to User
ID and password, every time you logon to HSBC's Personal/Business Internet Banking
service. As only have the Security Device, account holder only know the Security Code,
and access in account. Security Device is a simple and convenient way to ensure greater
protection for customer and financial information.

Protecting from Internet Attack: The Security Device provides superior level of
protection from a large variety of online attacks, including:

 Fraudulent and Spoof Websites.

Page | 40
  Spyware.

 Phishing.

 Trojan Horse.

 Pay Bills:

Bank knows how precious time is for customer. That's why we have introduced a wide
range of bill payment options through our Personal Internet Banking service. So customer
can pay their insurance premiums, wireless internet bills, or recharge your prepaid /
postpaid mobiles from home, office or on the go, whenever you want.

What's even better - it's FREE of charge!

Features:

 No application required for bill payment

 Pay your own bill, or on behalf of anyone else
 100% flexibility. Create, change or delete payment setups as you want.
 Available 24/7. Enhanced security by the use of an additional physical
security device
 Setup future payments or recurring payments that will auto-execute on
given dates
 Register today and get a FREE security device.

Page | 41
Bill Processing Time:

Cut off time for bill payment is 03:30pm. Bills paid only on working days are sent to
respective merchants on same day after cut-off time.

Bill Payment Procedures:

 Log-in to internet banking

 Click "Pay bills"
 Click "Add payee"
 Enter the account no. / reference no. with the vendor / merchant ( e.g.
Policy number for MetLife Alico or Mobile Number for Mobile credit
recharge ).
 Finally, click "Pay bills" again to proceed with the payment.

 Real Time Gross Settlement (RTGS):

RTGS is a real-time electronic funds transfer mechanism for domestic transactions worth
BDT 100,000 or more. Through RTGS, our customers are able to make real-time inter-
bank fund transfers. Any RTGS transaction originated and submitted by the customer is
considered as final and cannot be altered / cancelled.

Faster:

Large value fund transfers (worth BDT 100,000 or more) made within 10:00 AM and 
3:00 PM on a business  day through Personal Internet Banking are processed and sent to
beneficiary banks via Bangladesh Bank’s RTGS server within just 30 minutes!

 Please note that fund availability depends on internal procedures of the beneficiary
bank.

Page | 42
More Convenient:

While you can make RTGS fund transfer through any HSBC branch in Bangladesh, it is
much more convenient to use HSBC Personal Internet Banking (PIB). This allows you to
transfer funds on the go, from your office or your home. Simply register for the HSBC
PIB platform and start using this service.

More Secure:

Interbank RTGS fund transfers from PIB are secured because:

 HSBC offers class-1 security features (SSL certificate, 2FA) for online transfer.
 Such transactions are processed through Bangladesh Bank’s RTGS server.
 Bangladesh Bank records and confirms every RTGS transfer.

 Value added services from personal internet banking:

Save time by using Value Added Services from HSBC Personal Internet Banking (PIB).
This feature is a faster and more convenient way for you to apply for different HSBC
products and services anytime, anywhere.

How to use value added services:

To enjoy this service customer will have to be a registered PIB user. Apply now to
become a PIB user. If customer is already registered, they follow 3 simple steps to enjoy
Value Added Services:

Page | 43
 Log in to PIB and
select contact
center.

Select send
messege and
desired services as
the services.

Fillup the
necessary details
and send the
messege.

 Visa Debit Card

HSBC Visa debit card now comes with a brand-new design featuring a modern
interpretation of one of the HSBC lions, an iconic symbol of the Bank for nearly a
century. Created using dynamic facets, the design invokes HSBC’s heritage and spirit of
resilience in a contemporary style. In its new role on the card face, the HSBC lion serves
as our promise of protection and a daily reminder of our commitment to support you in
achieving your ambitions, be they big or small.

The Benefits:

 Pay with ease at merchant outlets

 Get cash from ATM machines anywhere in Bangladesh
 Be assured of best-in-class security features

Page | 44
    1)  Authentication measures: The EMV microchip on your
HSBC Visa Debit Card authenticates your transactions and reduces
the chances of fraudulent card usage through skimming and
copying of contents of the magnetic stripe.

    2) SMS alert:  You will be informed via an SMS alert each time
a transaction is performed and approved using your HSBC Visa
Debit Card.

    3) Card protection: Limited liability is imposed for card

protection in the event of a loss or theft of your HSBC Visa Debit
Card.

 Compatible with both local NPSB and Visa net

 Can be linked to FCY accounts for international coverage – ATMs
and merchant outlets

Activating Customer Card:

 Option 1 - Activate your new debit card at any HSBC or other bank ATM by
making a cash withdrawal or balance enquiry. Insert your debit card and enter
your existing ATM card PIN. The transaction will activate your debit card.
 Option 2 - Make a purchase at any Visa merchant outlet to activate your debit
card. You can make purchases at any location where Visa cards are accepted.
Input your existing ATM card PIN number when asked. The transaction will
activate your debit card.
 Option 3 - Simply call our Contact Centre 16240 (accessible from within
Bangladesh and +88 096127 16240 (accessible from overseas), 9 am to 9 pm
Bangladesh time, 7 days a week, except government holidays.

Page | 45
Page | 46
Introduction of Mutual Trust Bank Limited

In 2015, the bank became one of two local partners of Life Insurance Corporation of
India in Bangladesh. The Daily Star 15th Bangladesh Business Awards described the
bank as "one of the best-run banks in Bangladesh"

Mission & Vision

Our Vision

Mutual Trust Bank’s vision is based on a philosophy known as MTB3V. We envision

MTB to be:

 One of the best performing banks in Bangladesh

 The bank of choice

 A truly world-class bank

Our Mission

We aspire to be the most admired financial institution in the country, recognized as a

dynamic, innovative and client focused company, that offers an array of products and
services in the search for excellence and to create an impressive economic value.

MTB Core Values

Commitment:

 Shareholders – Create sustainable economic value for our shareholders by

utilizing an honest and efficient business methodology.

 Community – Committed to serve the society through employment creation,

support community projects and events and be a responsible corporate citizen.

 Customers – Render state-of-the-art service to our customers by offering

diversified products and by aspiring to fulfill their banking needs to the best of our
abilities.
Page | 47
  Employees – We rely on the inherent merits of the employee and honor our
relation as a part of this renowned financial institution. We work together to
celebrate and reward unique backgrounds, viewpoints, skills and talents of
everyone at the work place, no matter what their job is.

Accountability:

As a bank, we are judged solely by the successful execution of our commitments; we

expect and embrace this form of judgment. We are accountable for providing the highest
level of service along with meeting the strict requirements of regulatory standards and
ethical business practices.

Agility:

We can see things from different perspectives; we are open to change and not bound by
how we have done things in the past. We can respond rapidly and adjust our mode of
operation to meet stakeholder needs and achieve our goals.

Internet Banking of Mutual Trust Bank

Internet Banking

NEW RELEASE is a robust offering with enhanced capabilities that include the
convenience of accessing all your accounts using the same username, even if they are
currently being accessed using different User Codes.

The significant features you will enjoy with our new version are:

Summary of all your accounts and access account statements

Order cheque book(s)

Transfer funds to any MTB account

Set up payees (within MTB), to whom you transfer funds regularly

Page | 48
View credit card details and pay any MTB credit card bill

Pay utility bills

Manage your profile information

Mobile Top-up (Details)

If you have already registered to this new service, please 

To subscribe to new service please register online 

What you should do to stay safe online:

All registration, login and transaction MPIN will be transmitted through 2 (two)
designated mobile phone numbers 01977716219 & 01841116219.

DO NOT respond to any information transmitted from mobile numbers other than the
above two.

DO NOT respond to an unsolicited email asking you to click on a link.

DO NOT click on ANY links or open ANY attachments within any email purporting to
be from MTB.

DO NOT give out ANY personal or security details including your Access Code (AC) or
Password.

DO NOT access internet banking through a link in an email. Don’t fall victim to fraud!

DO contact us if you receive a fraudulent email.

DO contact us if you see any suspicious activity when using MTB Internet Banking.

Read MTB Internet Banking Terms & Conditions

Page | 49
MTB Internet Banking Services TERMS &
CONDITIONS

1. The terms and conditions: of any deposit Account agreement, rules, regulations,
schedule, signature card, credit agreement, including any disclosures made pursuant to
such agreements or authority executed by or made available to Customer and any
subsequent amendments to any of the foregoing, are incorporated herein by reference.
Credit agreements may include credit card agreements the Customer has with MTB.
However, if there is any conflict or inconsistency between the terms and conditions stated
in the other agreement and those of the agreement, the terms and conditions of the
agreement shall control to the extent of such conflict or inconsistency.

2. User Code, Password and Security Procedures: Upon becoming an Internet Banking
Customer, MTB will provide the Customer with a unique User Code (“User Code”) and a
temporary Password (“Password”) which will allow the Customer to access Customer’s
Account information. Use of the Password assigned, will indicate to MTB Customer’s
acceptance of the terms and conditions governing Customer’s Account(s) and this Internet
Banking agreement. Each time Customer accesses his or her Account through Internet
Banking, Customer will be required to enter Customer’s Password. Once logged on
through valid Password the system will not request for any further transaction
authorization and it stays valid until the Customer log off. Every IB transactions,
including, but not limited to accessing Account information, making transfers, giving
transfer-related instructions, initiated after entering the correct Password is deemed as
initiated by the customer. If Customer’s Password is lost or stolen, or is known by another
individual, Customer must notify MTB immediately. Failure to notify MTB Promptly
could result in loss of funds. Customer is responsible for maintaining the confidentiality
of customer’s Password and any breach of confidentiality shall promptly be reported to
MTB. MTB reserves the right to prevent Customer’s access to Internet Banking should
MTB have reason to believe the confidentiality of Customer’s Password has been
compromised. Customer understands that MTB has implemented a security procedure for
the purpose of verifying the authenticity of the payment instructions transmitted to MTB

Page | 50
by Customer (“instructions”), and not for the purpose of detecting errors on such
instructions. Customer agrees that this procedure constitutes a commercially reasonable
method of providing security against unauthorized instructions.

3. Computer Equipment and Software: It is customer’s responsibility to install anti-

virus software and update it with latest virus definition files. Customer should avoid
Internet Banking from un-known computers. Customer is solely responsible for the
maintenance, installations and operation of Customer’s Computer and for the software
used in accessing Internet Banking and MTB shall not be responsible for any errors,
deletions, or failures that occur as a result of any malfunction of Customer’s computer or
software, nor will MTB be responsible for any computer virus that affects Customer’s
Computer or the software while using Internet Banking, or by accessing Internet Banking
through the World Wide Web (WWW).Customer agrees that MTB shall not be liable for
any indirect, incidental, or consequential costs, expenses or damages (including lost
saving or profit, lost data, business interruption or attorney’s fees.)

4. Account Requirements: To subscribe to Internet Banking, Customer must maintain at

least one Current or Saving Bank Account (“Accounts”). Internet Banking will allow
Customer to access more than one Account. MTB reserves the right to refuse to open an
Account or to deny Customer the ability to access Internet Banking, or to limit access or
transactions or to revoke a customer’s access to Internet Banking without advance notice
to customer.

5. Electric Mail: Customer may contact MTB via email for general, non-urgent
Communications. As regular email is not secured, no sensitive personal information
should be transmitted through e-mail. MTB will not take any responsibility if any e-mail
sent by a customer falls in the hand of a non-recipient.

6. Reporting Unauthorized Transactions & Error Resolution: If Customer believes

unauthorized transactions are being made from Customer’s Account, Customer should
change the Password immediately and notify MTB. If Customer feels that any statement
or receipt is wrong, or wishes to have more information about transfer listed on a
statement or receipt, he/she should contact MTB over telephone. MTB must hear back

Page | 51
from Customer within ten (10) business days after MTB has sent Customer the FIRST
statement on which the problem or error appeared. When Customer contact MTB:

1). Should inform in writing name and Account number. (Should not mention Customer’s
Password).

2). Should describe the error or the transfer, Customer is unsure about, and explain clearly
why Customer believes it is an error or why Customer seeks more information.

3). Should inform MTB the date, taka amount and the transaction reference number (if
any) of the error. MTB will inform Customers the results of MTB’s investigation within
ten (10) business days on receipt of the customer’s notification and will the correct error
(if any) promptly. If MTB needs more time to investigate, it will inform the customer
accordingly and may take up to ninety (90) days.

Customer should contact MTB Internet Banking Help Desk at: 880-2-7170138 Ext
208/254/139

Or Write to:

MTB Internet Banking Help Desk

Mutual Trust Bank Limited, Head Office

ICT Division, 7th Floor

68, Dilkusha Bhuiyan Centre, Dhaka -100.

7. Fees: The usages fees for Internet Banking and/or will automatically be deducted from
Customer’s Account. Customer may also be assessed a fee for certain transactions. Please
refer to MTB’s fee schedule for specific fee information. Fees may be deducted from
Customer’s Account without prior notice to Customer. Fees are subject to change from
time to time at MTB’s discretion. If balance in the designated Account is insufficient to
pay any IB related fees, MTB has the right to debit the same from customer’s any other

Page | 52
Account maintained with MTB where the fees amount is available debit customer
Account whenever balance is credited in the Account.

8. Customer’s Responsibility: Customer shall be responsible for the

transfers/transactions authorized through Internet Banking. The Customer shall be
responsible for the proper and authorized use, confidentiality and security of the
passwords for MTB website access to each Account, and take every possible care to
prevent unauthorized use of the Password for the Account. The Customers acknowledges
that the Password are only for verification of authenticity of communications made in the
name of the Customer through MTB website access to the Account, and not for the
purpose of detecting errors in communications and any such communications shall be
deemed to be those of the Customer.

9. The Customer shall be responsible: for all transfers, withdrawals, transactions and
instructions initiated or originated by use of the User Code & Password. The Customer
irrevocably authorizes MTB:

a) To act on all instructions given or apparently given through MTB website access to an
Account in the name of the Customers: and

b) To debit or credit the appropriate Account Accordingly, without taking any further
steps to authenticate the instruction. If the Customer gives instructions contrary to these
conditions or otherwise, MTB may at its discretion without advance notice to the
Customer and without affecting other rights of MTB:

10. Applicable Law: This Agreement is subject to the provisions of all applicable
operating circulars of Bangladesh Bank, MTB and any other applicable provisions of
Laws of the land. This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective legal representatives, successors and assigns.

11. Anti Money Laundering: Customer agrees and confirms that he/she will not use this
facility for money laundering or violate any law of the land related to money laundering;
MTB reserves the right to ask for clarification/information from the customer on any IB

Page | 53
related transaction any customer would be required to respond in writing to such queries
within 7 working days.

12. MTB’s Responsibility: MTB shall be responsible for performing services expressly
provided for in this Agreement, and shall not be liable for any error or delay so long as
MTB has acted in accordance with the terms and conditions hereof. MTB shall not be
liable if Customers has not given MTB complete, correct or current transfer or payment
instructions or if Customer has not followed proper instructions given through Internet
Banking, or software used. MTB shall not be responsible for any loss, damage, liability or
claim arising, directly or indirectly from any error, delay or failure in performance of any
of its obligations hereunder which is caused by fire or other natural disaster, strike, civil
unrest, any inoperability of communications facilities or any other circumstance beyond
the control of MTB.

13. Severability: If any provision of the Agreement is found to be invalid or

unenforceable under applicable Law, said provision shall be ineffective to the extent of
such invalidity only, without affecting the remaining provisions of this Agreement.

14. Amendment: This Agreement may be amended at any time by MTB and the revised
information will be made available at any MTB office and will be published in our
website. Customer will be required to abide by these changes for future transactions.

15. Termination: Either Party may terminate this Agreement by giving 15 days’ notice to
the other party. Any Transaction made within these 15 days should be deemed to have
been done by customer. If MTB terminates Customer’s access to Internet Banking It
reserves the right to immediately stop making transfers or Payments from Customer’s
Account(s), including those Customer Previously authorized.

Page | 54
TERMS & CONDITIONS: Internet Banking Bill
Payment
1. This Agreement governs the use of the Mutual trust Bank Limited (MTB) website
access (“Internet Banking”) to the account or account mentioned below opened or
maintained with MTB and operable by one (not joint) signature (collectively and
individually “Account”) of the Customer or Customer named below (collectively and
individually “Customer”). Allowing the Customer to make payments from the Account to
utility service provider (“Biller”) Through the MTB website (“Electronic Utility Bill
Payment”) instead of the submission of Utility bills and payment in cash over the counter

2. This electronic utility bill Payment service is only available to customer of MTB who
are already customer of the MTB Internet Banking service and shall cover all the utility
bill payment of different service provider (Biller)s with which MTB has agreed in writing.

3. Each Biller will provide each subscriber availing of the Electronic Utility Bill payment
service with a unique subscribe identification number (Subscriber ID).

4. MTB will provide the Electronic Utility Bill Payment service for payment of the Utility
bills by customer through the MTB website, with Payment instructions containing details
of the customer and Utility Bill as mutually agreed between MTB and the Biller from
time to time.

5. Customer through the MTB website shall issue instructions to MTB for Payment of an
amount to the Biller account against the Customer Utility bill, by debit to the designated
Customer Account. After satisfactory verification and transmission of such instructions
for Payment, the Customer will be issued with a unique confirmation reference number
(“Confirmation”) visible on screen. A printed copy of the page containing the
Confirmation will be accepted by the biller as Payment against the customer’s Utility bill,
subject to subsequent confirmation from MTB.

6. Any transaction made on public holidays, 1st July and 31st December being bank
holiday, the transaction value date will be the next working day. On each working day

Page | 55
any transaction after MTB internet Banking system cutover time the transaction will take
effect on the next working day. MTB will not be obliged to apply any back value for
those transactions.

7. It is acknowledged by the customer that the provision of the utility Electronic Payment
services and website access to the Accounts is dependent upon the continued availability
of communication, processing, function and other facilities of the applicable systems, and
MTB cannot warrant such availability at all times. The service can be interrupted due to
several reasons like technical and other.

8. Except as provided herein MTB shall not be liable to the customer or any other person
for any claim, loss or damage arising, directly or indirectly: from the Utility Electronic
Payment service or website access to the Account pursuant to this Agreements, or from
the unauthorized use, interruption, unavailability or loss of use thereof or any part
thereof ; or for material or virus transmitted or received in connection with provision of
the Utility Electronic Payment service or website access to Account; or failure to carry
out instructions at the right time or any incorrectness, misstatements or omitted
information; or mistakes in Utility bill payments or intercountry transfers; or error
deletion or failures that occur as a result of any malfunction of the computer, software
system of the Biller; or transaction reserved under this agreement; or breach of
confidentiality arising directly or indirectly from any other cause.

9. Either party may terminate this Agreement by giving 15 days’ notice to the other party,
any transaction initiated prior termination will continue to be made until MTB has made a
responsible.

Page | 56
Page | 57
Introduction
The role of commercial banks is inevitable in our country's economy. For individuals,
small and medium-sized businesses and many other organizations, these banks are one of
the key sources of funds. Through the opening of L/C, dual card (VISA, debit and credit
card) facilities, the provision of export promotion funds and other required assistance,
these banks are also accelerating the export-import market in Bangladesh. In a nutshell,
commercial banks in Bangladesh offer a wide range of services for customers, companies,
international trade, foreign exchange, lease finance and the stock market. Dutch-Bangla
Bank is one of the leading banks in the private banking market, primarily offering
corporate banking services in order to flourish and be profitable. The bank has numerous
divisions, such as accounting, finance, HR, corporate banking, retail banking, delivery of
services, management of credit risk, card division, etc.

BACKGROUND OF DBBL
The proposed commercial bank is Dutch-Bangla Bank Limited. The Bank was founded
under the 1991 Bank Companies Act and incorporated in Bangladesh as a public limited
company under the 1994 Companies Act with the primary objective of caring for all
forms of banking business in Bangladesh. Dhaka Stock Exchange Limited and Chittagong
Stock Exchange Limited are the bank's listed companies. DBBL-a scheduled commercial
bank of the Bangladesh European private joint venture, began formal activity on 3 June
1996. Senakalyan Bhaban (4th, 5th and 6th floor), 195, Motijheel C/A, Dhaka,
Bangladesh, is the head office of the Bank. On 4 July 1996, the Bank commenced its
banking business with one branch.

Dutch Bangla Bank Limited (DBBL) is a public limited liability company incorporated in
Bangladesh in 1995 under the 1994 Law of Companies. The foreign co-sponsor of the
bank is the Netherlands Development Finance Company (FMO) of the Netherlands, with
a 30% equity stake. Out of the rest, 70 percent, 60 percent equity was given by prominent
local entrepreneurs and industrialists, and the remaining 10 percent shares are the public

Page | 58
issue. The aim of DBBL is to provide one counter service to customers covering:
Commercial Banking (Deposit Accounts), Consumer Banking (Retail Baking)-Traveler
Cheques-Foreign & Inland Remittances, Financial Services, Corporate Banking, Ass
DBBL Internet banking allows clients to access their personal or company accounts
anywhere from home, workplace or while travelling at any time.

As a public limited company incorporated in Bangladesh on June 26, 1995, Dutch-Bangla

Bank Ltd. entered into existence as a joint venture with the primary objective of carrying
on all forms of banking business in and outside Bangladesh. DBBL's business with a
foreign bank has begun. With effect from July 04, 1995, DBBL began its business as a
scheduled bank with one branch-Motijheel Branch, Dhaka, with the motto of rising as a
pioneer in Bangladesh's banking arena through better advice and service to customers and
thus revitalizing the country's economy. Currently, both branches genuinely have on-line
banking services. Initially, DBBL resumed its operating activities with Tk.4000 million of
approved capital and Tk.2000 million of paid-up capital.

Mission

Dutch-Bangla Bank engineers’ enterprise and creativity in business and industry with a
commitment to social responsibility. "Profits alone" do not hold a central focus in the
Bank's operation; because "man does not live by bread and butter alone".

Vision

Dutch-Bangla Bank dreams of better Bangladesh, where arts and letters, sports and
athletics, music and entertainment, science and education, health and hygiene, clean and
pollution free environment and above all a society based on morality and ethics make all
our lives worth living. Dutch-Bangla Bank’s essence and ethos rest on a cosmos of
creativity and the marvel-magic of a charmed life that abounds with spirit of life and
adventures that contributes towards human development.

Page | 59
Core Objectives

Dutch-Bangla Bank believes in its uncompromising commitment to fulfill its customer

needs and satisfaction and to become their first choice in banking. Taking cue from its
pool esteemed clientele, Dutch-Bangla Bank intends to pave the way for a new era in
banking that upholds and epitomizes its vaunted marquees "Your Trusted Partner"

DEFINITIONS OF TERMS USED IN E-BANKING

E-Banking                 
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.
E–Money
E-money includes electronic debit and credit system, smart card. The smart card has
been defined many ways,  but  is  generally  defined  as  “portable  data  storage 
device  with intelligence (chip  memory) and provision for identity and security.”
Smart Cards
“Portable data  Storage  device  with  intelligence  (Chip  Memory)  and  provisions  for
identity and security” (Barbara A. Good, 1997).
Automated Teller Machine (ATM)
An ATM is simply a data terminal with two input and four output devices.
ATM has two input devices- card reader and keypad. An ATM has four output devices-
Speaker, Display screen, Receipt printer, cash dispenser.
SMS Banking
SMS- Banking is developed to provide transactions related to client’s card account via
SMS.
Tele-banking
Tele-banking is a form of remote banking which is essentially the delivery of branch
financial services via telecommunication devices.
Online Banking

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 Online banking (Internet banking) is a term used for performing transactions, payments
etc. over the internet through a bank’s secure website.
Call Center
Call center is a streamlined customer interface and offers a range of banking services
through its call center agents.

DBBL E-Banking
Dutch-Bangla Bank Limited (DBBL) is a fully online banking company and a technology
focused institution. It caters to progressive consumers who are used to high levels of
usage and creativity of technology. To make banking the most seamless job for its
customers, DBBL aims to give its customers the latest in banking technology and
distribution channels. The technology vision of DBBL is based on the perception that a
high-end technology service is the customer's inherent right. A customer has the right to
do seamless banking from any place they want and expecting this service universally
across any medium is entirely within their rights. This vision leads to a comprehensive
Information Technology (IT) project undertaken by DBBL in 2003 in which the entire
system was automated at a cost of Tk. Of 1 billion.

COLLABORATING WITH OTHER BANKS
At the end of 2010, DBBL continues to have the largest ATM network by a significant
margin. Banks that has signed agreements to share DBBL’s ATM network.

Citibank (locally known as “Citibank NA”)

Standard Chartered Bank (SCB)

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Commercial Bank of Ceylon

Mutual Trust Bank

Bank Asia

National Credit and Commerce Bank Limited (NCC Bank)

Prime Bank

United Commercial Bank Limited (UCBL)

Southeast Bank Limited (SEBL)

The City Bank (locally known as “City Bank” to differentiate between “Citibank NA”)

First Security Bank

Trust Bank

Mercantile Bank

DBBL DEBIT CARD

Dutch-Bangla Bank Limited (DBBL) commenced its Debit card operation in August
2004. Initially DBBL has issued only DBBL NEXUS classic cards to the accountholders.
At present there are over 150,000 + cards in the hands of the customers. At the moment,
the total card market size (approx.) in Bangladesh is 7 lac. Among these, DBBL is having
around 20% market share with 150,000+ DBBL NEXUS cards.

DBBL Debit card products are:

DBBL NEXUS Classic Card

DBBL NEXUS Maestro card

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DBBL NEXUS VISA Electron card

DBBL CREDIT CARD

With a vision of rendering services through new financial products, Dutch-Bangla Bank
Limited has started issuance of DBBL-NEXUS Gold and Silver Credit Card facility since
June 2006. With this card, the cardholders can avail an OD facility from Tk.10, 000/- (ten
thousand) up to Tk.2, 000,000/-(twenty lac) depending on credit worthiness.

DBBL Credit card products are:

DBBL NEXUS Silver OD card (credit)

DBBL NEXUS Gold OD card (credit)

DBBL NEXUS VISA credit card (in phases)

SERVICE PROVIDED BY ON-LINE OF DBBL

Through ATMs:

Account balance enquiry By using the DBBL’s own ATM booths anywhere in the
country, the valued customers of the bank can perform the following functions at any
time-

Mini statement printing

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Statement request

PIN (Personal Identification Number) change

Request for Cheque Book

Fund transfer within his/her own accounts

Cash withdrawal – 24 hours a day, 7 days a week, 365 days a year

Cash deposit to some designated number of ATM’s any time

Payment of mobile/T&T phone, Gas, Electricity, Water, Internet, Credit Card bills from
customer’s Savings/Current account.

Through Internet:

Through the Internet Banking of DBBL, the following can be performed:

1. Checking of account balance

2. Print-out of account statement for a particular period.
3. Transfer of found within the customer’s own accounts
4. Payment of mobile/T&T phone, Gas, Electricity, Water, Internet bills from
customer’s account.
5. Payment of School/College/University fees by debiting one’s account
6. Purchase of activation number for mobile/internet pre-paid cards.
7. Deposit of loan installments
8. Stop Cheque payments
9. Opening of an FDR (Fixed Deposit Receipt) account by debiting one’s
Savings/Current/STD (Short Term Deposit) account
10. Submission of L/C (Letter of Credit) application on-line
11. Foreign Currency Exchange rates and interest rates enquiry.

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Page | 65
OVERVIEW
At City Bank, by serving many generations of customers – from small branches earlier to
now offering cutting-edge digital services accessible from the comfort of one’s home or
one’s o-ice – City Bank has rapidly evolved to become one of the largest and most
respected financial institutions of Bangladesh. Today, City Bank offers a wide range of
both conventional and Islamic financial solutions and services, including wholesale
banking, corporate banking and retail banking, with the explicit purpose of helping
individuals and businesses succeed commercially, financially and socially. Such a
purpose demonstrates our renewed vision to bolster sustenance, improvement and growth
in key segments and products. Further, as a future-facing bank that is committed to
holistic customer service, City Bank’s digital journey is anchored on making banking an
easy, fast, simple and enjoyable experience for our valued customers across all touch-
points, including branches, online and mobile. Today, we are accelerating the next-phase
of our digital capabilities with a comprehensive digital roadmap that focuses on
integrating our services into the lives of our customers in an innovative and cost- effective
way. Indeed, our sustained multi-decade growth has been accomplished by staying true to
our ability of placing our customer at the centre of our universe and constantly embracing
innovation, while incorporating best practices in sustainability in our pursuit of meeting
the needs and aspirations of our stakeholders – today and of future generations!

VISION
The Financial Supermarket with a Winning Culture Offering Enjoyable Experiences.

Mission
 Offer wide array of products and services that differentiate and excite all customer
segments
 Be the "Employer of choice" by offering an environment where people excel and
leaders are created

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  Continuously challenge processes and platforms to enhance effectiveness and
efficiency
 Promote innovation and automation with a view to guaranteeing and enhancing
excellence in service

Values
 Offer wide array of products and services that differentiate and excite all customer
segments
 Be the "Employer of choice" by offering an environment where people excel and
leaders are created
 Continuously challenge processes and platforms to enhance effectiveness and
efficiency
 Promote innovation and automation with a view to guaranteeing and enhancing
excellence in service
 Ensure respect for community, good governance and compliance in everything we
do.

Internet Banking
Internet banking, also known as online banking or e- banking Net Banking is a facility
offered by banks and financial institutions that allow customers to use banking services
over the internet. Customers need not visit their bank’s branch office to avail each and
every small service. Not all account holders get access to internet banking. If you would
like to use internet banking services, you must register for the facility while opening the
account or later. You have to use the registered customer ID and password to log into
your internet banking account.

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Popular Internet Banking Instruments in Bangladesh

 NPSB
 BEFTN
 RTGS
NPSB: NPSB stand for ‘National Payment Switch Bangladesh’. it is an electronic
platform, started its operation on 27 December 2012 with a view to attain interoperability
among schedule banks for card based/online retail transactions. At present, NPSB is
processing interbank Automated Teller Machines (ATM), Point of Sales (POS), Internet
Banking Fund Transfer (IBFT) transactions.

BEFTN: BEFTN stand for “Bangladesh Electronic Funds Transfer Network”. BEFTN
has started its 'Live Operation' on 28th February 2011 with the objective to decrease
paper-based payment methods and encourage electronic payment methods for secured,
faster & cost-effective transactions. The Network started with credit transactions and open
for debits from 15 September 2011.

BEFTN facilitates the transmission of payments between the banks electronically, which
makes it faster and efficient means of inter-bank clearing over the existing paper-based
system i.e., BACPS. It is able to handle a wide variety of credit transfers such as payroll,
foreign and domestic remittances, social security, company dividends, retirement,
expense reimbursement, bill payments, corporate payments, government tax payments,
social security payments and person to person payments. The system could handle debit
transfers such as mortgage payments, loan payments, insurance premiums, utility bill
payments, government tax payments, government licenses and fees.

EFT is gaining increasing popularity among the corporate and govt. bodies.
Approximately 13761853 EFT transactions having transaction volume of BDT 873.86
billion were processed during the FY2015 with an increasing trend. Salary of more than
28 ministries and govt. offices are now paid through EFT. Listed public companies are
paying their cash dividends through EFT network.

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RTGS: RTGS means “Real Time Gross Settlement”. To facilitate safe, secured and
efficient interbank payment system, Bangladesh Bank introduced Real Time Gross
Settlement (RTGS) system on 29th October 2015 as part of its inclusive digitalization
initiative.  It opened a new horizon in the arena of large value time critical payment and
settlement in the country. It was implemented with the financial assistance from Asian
Development Bank and technical support from the World Bank. The central RTGS
system was developed by the Swedish company CMA Small Systems AB.

RTGS is an electronic settlement system where transfer of funds takes place from one
account of a bank to that of another bank on a real-time and on gross basis. Real-time
refers transactions that do not need any waiting period. Transactions are settled as soon as
they are executed. System is designed to settle high value (more than or equal to 1, 00,000
BDT) local currency transactions as well as domestic foreign currency transactions. It is
worthwhile to mention that more than 7000 online branches of 55 scheduled banks are
currently connected to this system out of total 11000 bank branches of 57 banks in the
country. The system is currently allowed to handle only local currency, however domestic
foreign currency transactions are expected to be launched soon.

City Bank Ltd. Internet Banking

City Bank (City Touch): City Bank is one of the oldest private Commercial Banks
functioning in Bangladesh and also is one of the top banks among the five oldest
Commercial Banks in the country. Thus, to make banking easier, faster, more secure and
convenient to the clients City Bank introduced City Touch digital banking app to their
consumers. This banking app thus has not just made the old consumers more attached to
City Bank’s banking system, it has also pushed many new customers migrate their
accounts to City Bank only because of the app’s convenience and wonderful performance.

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Updated Features that City Touch app contain:
 Fund transfer and account details with summarized version
 Deposits, loans and multiple card (debit/credit) management
 Create fixed deposit or monthly DPS plans through the app
 Customer service request through app
 Personalization, customization and transaction security check by customers.
 Printed Account Statement in the form of short & for a particular period.
 Two-factor authentication (2fa) & user security for highly secure service.
 User request for user Interface service
 Detail Product lists & Product information via ibanking app.
 Instant bill payment such as tuition fees, mobile phone bills, insurance premium,
club payments, internet bill payments etc. through the app.
 Internet shopping for over hundreds of leading retailers across Bangladesh.
 Services check book requests, stop cheques, activation or blocking cards and Card
PIN changing through the app.
 Air tickets purchase from top domestic airlines such as Novo Air, Regent Airways
and US Bangla Airlines through the app.
 Bill payment for any Visa, Master or Amex credit cards issued in Bangladesh
through the app.
 Finding nearest City Bank ATMs and branch locations on-the-go.
 Transferring money to VISA debit cards for 18 enlisted banks.
 Scheduling payments for specific dates.

New online banking feature added by city bank during

the pandemic time:
 People can now open CBL account in home without visiting the branch.
 AMEX credit card bill now pays via MFS.
 AMEX debit or Credit card holder now directly send money to MFS.
 Whatsapp banking was introduced.

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Page | 71
Introduction
Islami Bank Bangladesh Limited has been devoted to serve its customers since inception.
We are committed to introduce new services, make existing services faster and better than
ever. We have a capable, energetic and innovative software team which have been
developing all our new systems and applications according to our customers' needs.

Services

Islami Bank Bangladesh Limited has been devoted to serving its customers since
inception. They are committed to introduce new services and to make existing services
faster and better than ever.

iBanking is a cornerstone of our strategy, designed to accelerate our commitment to green

banking and to enable customers to do banking at their own convenience.

They have introduced two new services to all iBanking customers that reflect our
continuous endeavor to put the strategy into action. Wherever you are, using iBanking
now you can.

Conditions

 Maximum amount Tk. 5,00,000.00 within 10 transactions per day.

 Maximum 20 (Twenty) account can be subscribed as a destination account.
 Subscribed account cannot be deleted within 20 days.
 After subscribing collect secret PIN CODE (TPIN) from Branch.
 Charge applicable; Taka 0.25 per thousand, Minimum Charges: Tk.5, Maximum
Charges: Tk.100.
 Deposit to MSS/MMS/MMH/MWCD account Free
 Transfer within a branch Free.

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Internet Banking Services of Islami Bank Bangladesh
Ltd.

 View Accounts
 Search FTT Message
 Search FDD Payment
 Transaction Summary
 Clearing Instrument Status
 Outstanding Liability Position
 Positive Pay Instruction
 iTransfer
 iRecharge
 WiMAX Recharge
 Utility Bill Pay
 Card Services
 Account No Withdrawal
 Manage Cheque
 Cost Sheet
 iTransfer-EFT
 GP Wallet Refill
 Vat Payment
 RTGS Fund Transfer
 NPSB Fund Transfer
 Manage SMS Alert
 Card Trans History
 iCash Remit
 Create Tasks

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 Part 04
___________________
Comparative overview

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Following table summarizes the comparative overview.

Virtual Banking Services

Name of Banks Fund

Check Fund
Account Transfer Bill Mobile Mobile
Account Statement Transfer
Status (Other Payment Top-up App
Balance (Internal)
Banks)

1 Islami Bank Bangladesh Ltd        

2 BRAC Bank Ltd    x x x x x
3 City Bank Ltd        
4 Dutch Bangla Bank Ltd     x  x x
5 HSBC        x
6 IFIC Bank Ltd    x x  x x
7 Mutual Trust Bank Ltd     x   
8 Social Islami Bank Ltd        

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 Part 05
___________________
Conclusion

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 Recommendations
To implement Online banking successfully in Bangladesh following recommendations are
given below:
Digital Bangladesh may be activated by 2021 to develop the economy of Bangladesh.
      

Successful team building with a coherent manner for developing human ware, hardware,
software and web ware are required to increase e-business process in a systematic way.
Moreover, greater emphasis should be given on security system and to prevent fraud so
that any sort of financial transactions including on line banking payment or any other
electronic fund transfer can be properly handled.

Career path of hardware and software engineers should be properly designed. Otherwise,
      

professionals will be de-motivated and they won’t work with job satisfaction.

In Bangladesh, on line banking systems are yet at a take off stage. The Clearing House
      

operation in Bangladesh should be fully automated system. Banks and business

organizations especially corporate houses should have adequate research, skilled
manpower and technology driven strategies in this regard.

Initiatives to develop integrated e – banking software through in house built may be

      

taken. Preference should be given by the bank authority to use local software over foreign
software. Common gateway is required so that interbank transactions can be feasible.
Bank can charge normal profit to enlarge the market size on the online banking products.
Banks should have their own strategic plans to implement on line banking system.
Creating awareness and consciousness among the clients of the banks are also required.

The country needs to develop Online banking with the help of ICT facilities. ICT
      

application and development of software are very much dependent on the quality of the
workforce, and supportive infrastructure and environment. Upazilla level may be
considered as the base unit which may be connected with district and then connectivity
with the capital of the country can be done. However, more stress should be given on wire
free connectivity for which priority should be given on WIMAX technology.

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 Public and private participation (PPP) for e-business should be encouraged for economic
      

development. Spread of on-line banking is a very good initiative. But it is not only
sufficient. Business sector as a whole should be focused on using E-business. It should be
accompanied with e-governance system and should be moved towards other areas of the
system like e-tender, e-trafficking, e-ticket, e-learning etc. More stress should be given to
the wireless transactions and working environment due to rapid technological
advancement.

Online banking should be used both for agricultural sector and industrial sector. Equal
      

importance should be given so that domestic trade and international trade can be effective.
Distortion from the market should be driven out and information should be passes
systematically.

Online banking can help to improve total quality management. This can also ensure
      

quality assurance of the business sector. As such business policy formulation and
strategies are required and this should be properly implemented. Adequate training and
technological support to be developed so that trained manpower and technology driven
organizations can be created with the help of partnership between Govt. and non –Govt.
organizations.

Quality maintenance of local software should be arranged. Initiatives should be taken to

      

set up hardware industry so that computer and computer accessories can be prepared in
the country and easily purchasable for the lower and lower middle-class people. Quality
education and training in the field of ICT to develop human resources are essential. 
Moreover, entrepreneurship should be developed for developing hardware and computer
peripherals.

More high-speed fiber optical data communication infrastructures should be well

      

established for speedy data communication for domestic and global high speed
communication system. This will help to attain better e-business including on line
banking system. Competitive situation should be arranged so that e-business management
can be improved through efficiency and effectiveness of customer services.

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 BTRC as a regulatory body should work with long term vision, mission and fulfillment of
      

goal-oriented strategies. They should work as a facilitator rather not creating hindrance.
VOIP should be legalized after examining and finalizing proper rules and regulations in
the country.

Conclusions

Online banking, the latest generation of electronic banking transactions, opened up new
window of opportunity to the existing banks and financial institutions. Most of the banks
have their own websites but not all of them offered internet facilities. The main reason of
this was that the banks did not have the IT infrastructure and proper security features. The
Ministry of Science, Information and Communication Technology went out the policy for
the development in the IT sector. Another important issue in extending the internet
banking services throughout the country was gaining popularity. In Bangladesh most of
the people were illiterate and obviously they were technology ignorant. But among the
literate portion many of them had computer phobia. So these people could not trust on the
internet banking services. To gain the confidence on internet banking the overall
computer literacy must be developed. With that goal government had taken initiative even
in the root level to develop it literacy in the country. This would be a perfect ground for
the development of internet banking. However, with banking customers growing
increasingly comfortable with the digital lifestyle, but Bangladeshi customers were not
aware about e-banking in Bangladesh. They were not fully understanding the power of
technology and seek to leverage it to enjoy better control over their banking operations.
To conclude that e-banking also provided other benefits. For instance, creating new
markets, and reducing operational costs, administrative costs and workforce are
increasingly important aspects for the banks’ competitiveness, and e-banking improved
these aspects as well. So, Bangladeshi banks should take these advantages of e-banking in
Bangladesh economy as early as possible.

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References

1. Internship Program for University Students by IBTRA

2. Retrieved from Islami Bank Bangladesh Ltd. : www.islamibankbd.com

3. Retrieved from Brac Bank Limited : www.bracbank.com

4. Retrieved from Dutch-Bangla Bank : www.dutchbanglabank.com

5. Retrieved from IFIC Bank Limited : www.ificbank.com.bd

6. Retrieved from Mutual Trust Bank Limited : www.mutualtrustbank.com

7. Retrieved from City Bank Limited : www.thecitybank.com

8. Retrieved from HSBC Bank Limited : www.hsbc.com.bd

9. Retrieved from Brac Bank Limited : www.siblbd.com

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