Mohammad Aman Ullah is one of the distinguished industrialists and entrepreneurs in Bangladesh. His fame spreads throughout home and abroad contributing in our country’s industry, business, trade through his development initiatives.He is one of the founders and Present Chairman of Mercantile Bank Ltd, Ex-Chairman, Present Adviser of Global Insurance Ltd.&Desh General Insurance Ltd. He has achieved much acknowledgement both in country and abroad as a chairman of Aman Group.
You’ve involved in banking sector for a long time. It is a big challenge to reach banking services to all the people of the country. How is it possible to reach out banking service to the doorstep of ordinary people?
Mohammad AmanUllah: Banking Industry is a Service Sector. People will not go there if there is no good service. Why do they not come? Because banks are investing money against interest. So people will not go if there is no special service. Actually serving or service are the true investment of a bank. Nowadays, it becomes more convenient to reach out banking service to the people’s doorstep through modern technologies. It becomes easier through our rural branches. Bangladesh Bank announces that a bank has to open two branches in remote areas against opening an urban branch. It is possible to earn same profit by an urban branch that requires ten branches of village. Nevertheless we’ve to open branches in village. We’ve to give farming loan by a minimum rate of interest.Few years back the interest rate of the bank was bit higher but now it decreases to single digit. Now we’ve lots of idle money and we’re searching places for investment.
How’s running the Mercantile Bank?
Mohammad AmanUllah: By the grace of Almighty Allah, our Mercantile bank is running very well. We gave good dividend and profit as well. Above all, we are doing better in al respect. Bangladesh Bank is now practicing supremacy over the banking sector. Bank owners or the shareholders cannot do anything whimsically. Everybody is in a chain of command and have individual liabilities. There is no scope to be attached with any unlawful activities.
Nowadays banking sector faces a lot of challenging situation. Such as, once we’d hard cash in the pocket but now it becomes digital. Our currency is transferring to abroad. Therefore security issue rises.
Mohammad AmanUllah: it’s true that we’re in a tough situation because money is no more confined within papers note only, it becomes plastic. We can carry money at any places of the country and we’ve numerous ATM booths. Mobile Banking is introduced. It becomes easier to reach out money to every house through these technologies.
Is there Mobile Banking of Mercantile Bank?
Mohammad AmanUllah: Yes, “My Cash” is our mobile banking section and we provide that service as well. When a new technology arrives in any country, there may have some misconceptions. Day by day it will improve and reach to the bottom. Since everything is monitored by “Bangladesh Bank”, everything directed by their rules and regulations. They follow up everything. There are many skilled person in our country who’ve studied in abroad. They have experience of foreign job. These kind of skilled people are working here.
Is our banking sector so big? Tell us your opinion about it?
Mohammad AmanUllah: This sector is huge and also highly sensitive. If there is any accident take place, the impact will be huge and highly vulnerable. That’s why we’ve to conduct work on our own security and also make prepare ourselves for the worst accident. We’ve advanced so far in this sector in the last 5/10 years. Our security system advances so far.
What kind of improvements have been made in online banking?
Mohammad AmanUllah: Wherever you open an account in Bangladesh, you can operate it from all over the country. You can withdraw from cheque or by ATM Card.Whenever a technology based service arrives, we go on the path of technology, targeting it. I think, the situation of Bangladesh banking sector is now good. Nowadays we’re not far behind. Nevertheless we’re introducing new technology based services relentlessly.
Tell us in brief about your business group?
Mohammad AmanUllah: Our business runs quite well, because our generation is changing. Whatever my father had done before I have done it faster and more technologically. Our children’s are now digital and many of them studied from abroad. They do business throughout the world by sitting at home. Once I even traveled to Spain for a parts, but I failed to get it. Nowadays our offspring are getting anything laying on bed that they desire. Now I say that I am way advance than my father.In this era of changing, business advanced so far.