E-Banking in Bangladesh

The electronic banking has various advantages than the traditional banking system which is simple and convenient for the users. The advantages are-

Electronic Bank Account Management (eBAM): Automate and standardize a variety of tasks—from opening, closing and maintenance of legal entities and bank accounts, to adding

Internet Banking (Internet banking): Computerized service that allows a bank’s customers to get Internet with the bank via internet or telephone lines to view the status of their account(s) and transaction history. It usually also allows them to transfer funds, pay bills, request check books and so on (Business dictionary., 2011)

Online banking facilities so that the applicant can do all their transactions from the comfort of their home.

From this we can say that E-banking is the way of transacting where customers do their transactions electronically via internet and they do not have to leave their comfortable position and stand in a line for withdrawal or depositing money at bank or pay bills like gas bill or electricity bill.

Concept of the advertisement: The advertising has made for Islami Bank mCash, is the Mobile Banking of Islami Bank Bangladesh Limited where the customers of any mobile company take the 24 hours of mobile banking services from anywhere of the country without going to any branches. The advertising has made to show with mobile banking you can access your bank accounts, make payments and transfer funds via your cell phone. With vast mobile connectivity, mobile

Banking technologies allow for online transactions, standing orders and the use of ATMs to make bill payments. Cardholders of some banks may use others ' free of charge and the banks themselves are becoming more open-plan, providing easy access to business

Banks in Bangladesh are primarily divided into two categories under the supervision of central bank called BANGLASH BANK. The first category is the schedule banks that are created under the Bank Company act, 1991 for general banking purpose. The other sort is non-schedule banks which are created for special or specific purpose. As of this year there are 60 banks in Bangladesh. State controls 4 of them and 9 of them are controlled by foreign investors. There are also 9 Islamic Sharia based banks that are governed by Islamic financial regulation system. Now a day it has become the dominant financial market in the country because of the lack of development in the primary and secondary capital market. But the key problems lies the out-dated banking procedure and lack of coordination between different authorities (Ali, 2005).Bangladesh Banks hopes that the newly opened banks will help spreading and improving the banking service

In the mid-1990s came Internet banking which enabled consumers to access their financial accounts using a home computer with an Internet connection. Despite its promise of ultimate convenience, online banking saw slow and tentative growth as banks worked out technology issues and built consumer trust. Today, Internet banking has reached a critical mass, with about 35 percent of U.S. households conducting bank transactions online.

The main concern of this journal was the application of software towards the banking industry, especially in Ethiopia. According to (Nations Online Country World Wide), Ethiopia ranked the 10th in the “Third World Countries in Terms of their Gross National Income (GNI)”. “In Ethiopia cash is still the most dominant medium of exchange and Electronic-banking is not well known, let alone used for transacting banking issues.” (Vijay & Asefa, 2011) This article discusses and considers the issues and challenges that the Ethiopian Banks are facing right now. Not only that, the journal also mentioned the difficulty of them adopting such software and technology into their banking industry.

MOBILE BANKING: Mobile technology is well accepted and widely available at an affordable price. It is also suitable for banking and payment services and provides huge opportunity to extend financial services to each and every individual irrespective of the place where one is residing. Internet banking has helped the customers by accessing their account anytime, anywhere, at any place. Customers can check their account details, get their banks statement, and perform many transactions in the comfort of their home or office.

The problem here is that since theOne would think that the main purpose for a bank besides managing one 's money would be giving good customer service. Excellence in customer service is the most important tool for sustained business growth. Customer complaints are part of the business life of any corporate entity. This is more so for banks because banks are service organizations. As a service organization, customer service and customer satisfaction should be the prime concern of any bank. Banks believe that by providing prompt and efficient service on to their customers, this is essential not only to attract new customers, but also to retain existing ones because customer dissatisfaction would spoil the bank 's name and image. To provide this kind of service more fast and efficient, the major weapon of bank is e-banking.

The outstanding success of the mobile market, however, has been achieved in a Bangladesh that continues to struggle with its lowly economic status, its frequent natural disasters such cyclones and floods and the slow implementation of much-needed economic reforms. This state of affairs is reflected in the fixed-line segment of the local telecom market which remains stagnant with a teledensity of less than 1%, the lowest in South Asia. With almost 99% of homes lacking a telephone and with a substantial waiting list for fixed-line services, the country is still struggling with some of the most underdeveloped telecommunications infrastructure in the world. Interestingly, about 80% of

Deposit Money: They collect deposit from public who want to deposit a lump sum of money for a fixed time period; say for a minimum period of 1,3,6,12 or 24 months period, thereby earning a higher rate of interest in return.Three 's also eligibility for depositors for example minimum has to be 18 and he/she has to be a citizen of Bangladesh. Other key features are customer will get 80% loan facility on deposited amount and it can be opened for 3 months,6 months,12 months or 24 months,

Commercial banks, non-bank financial institution, insurance companies etc. are the main elements to build the financial sector of Bangladesh. The main role is played by banks in the financial sector of Bangladesh. Bank is the financial institution that deals with money through depositing money and then channels those funds into loaning activities. A bank is an institution that deposited money which is given by customer for investment and repay it when the customer claim it, and also makes loans at interest.