Md Mustafizur Rahman Head of Product, ADC & Cards – NRB Bank Limited

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One of the most promising youngsters in retail banking focused on electronic payments & digital banking. Having 12 years diversified experience in MetLife, Banglalink, and The City Bank & EBL – recognized as highly dynamic resource for the organizations, studied Faujdarhat Cadet College & Dhaka University. A good speaker and visited USA, Canada, UK, Singapore, UAE, Hong Kong, KSA, Malaysia, Indonesia, Vietnam & India.

 

  1. The Pages:Can you speak about how did NRB Bank Ltd. start and a short about it?

 

NRB Bank Ltd. is one of the fourth generation private banks in Bangladesh among the 9 new banks, which has begun its operations in 2013. It started with bringing together a passionate and entrepreneurial group of NRB investors from all over the world.

 

In 2 years of time – we have launched 15 branches, 18 ATMs, 5 collection booths, Internet Banking, 24 hours Call Center, Global debit & credit cards and full suite of Corporate, SME & Retail Banking products & services. NRB Bank aims to be the leading financial institution for both Non-residents & residents of Bangladesh.

 

  1. The Pages: Tell us about retail banking in Bangladesh and why it is needed?

 

ANZ Gridlays first started retail banking in Bangladesh 22+ years back! Then SCB, EBL, DBBL, The City, Brac Bank aggressively expanded this and NRB Bank is the newest addition. Retail Banking is peoples banking – managing individuals wealth, financial need and bringing mass people under banking umbrella; without retail banking i) Financial inclusion ii) Brand visibility & most importantly iii) Customer service through different touch points/branch/alternate channels can never be ensured.

 

  1. The Pages: Do you think retail sector & local Lifestyle is booming in Bangladesh and how?

 

If you have a look at the retail indicators, for example highly consistent (6+) GDP growth, Highest (55%) youth population, 4% urbanization rate, highly consistent remittance & Disposable income growth, 105 million mobile user, availability of tangible international Consumer products & technology and high desire to improve lifestyle – These data suggests How retail sector and lifestyle is booming in Bangladesh.

 

 

 

  1. The Pages: How would you assess Bangladesh as a potential economic zone for FDI (Foreign Direct investment)?

 

In 2013 & 2014 the FDI were 1.6 & 1.5 billion USD, though it has dropped a bit last year but Bangladesh is the ultimate country for Foreign Investment for its geographical location and the demographical status with immense potential. If we can only ensure adequate energy supply and political stability; just see how our RMG, pharmaceuticals, life science, leather goods, infrastructure development products & SME will grow!

 

  1. The Pages: There are two more NRB banks and how do you find about that?

 

Yes, there are total 3 new banks with ‘NRB’ included in their name, and it creates confusion sometimes. But, these are completely 3 different banks and I think it is only matter of time by which these banks will establish their brands individually in the market.

 

If you see, there are total 8 Sariah based Islami banks in Bangladesh, initially those names were confusing too, but over period of time all are individually well recognized.

 

  1. The Pages:What is your business expansion plan to open Branch outside the country?

 

It is too early to say such for a new bank! But definitely we have future plans and going forward the remittance hubs and regional countries like Myanmar, seven sister of India are potential places. I would also say, all of our board of directors are NRB and extremely successful in their own field in respective countries. They are the Icons representing NRB Bank across the world.

 

  1. The Pages: Where do you see the retail & electronic banking future and presence in Bangladesh and abroad?

 

No question of retail and digital banking future in a country like 170 million population where 60% are still unbanked! The mobile financial services and national payment switch gateway are the revolutionary steps by Bangladesh Bank towards this.

Presently, almost all banks are online, most of the banks have ATM, Debit/Credit card, Internet banking and phone banking services. To enable countrywide e-commerce and mobile money accepted merchants are the future of business real cashless too.

 

  1. The Pages: Would you like to tell the reader to your upcoming product for Eid ul Azha?

 

Sure, during this festive month our Credit Card campaign is carrying out through which the customers can transfer his/her existing card outstanding only at 1.5% monthly interest rate and also buy 0% installment payment facility. We are the pioneer in introducing many products and services among the 9 new banks and will continue to do so in future too!

 

Thank you.

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