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Internship Report on Agent Banking of Modhumoti Bank Ltd.
So, Modhumoti Bank Ltd (MMBL) kicked off its banking business in Bangladesh on September 19, 2013, after getting official permission from Bangladesh Bank. Right from the start, the bank wanted to be one of those fresh local banks that really cares about its customers. They put a lot of focus on smart employees and using tech to give customers the best services and products.
The bank’s top people include Chairman Humayun Kabir and Managing Director & CEO Md. Shafiul Azam, who’s got more than 33 years in banking. What’s cool is the bank really tries to support small and medium businesses, especially in villages and small towns. That’s part of their bigger goal—to help the whole country grow by including everyone.
Today, Modhumoti Bank has about 44 branches all over Bangladesh, from big cities like Dhaka and Chattogram to smaller towns. This way, they make banking easier for lots of people. The bank is known for being honest and giving good service, which has helped it become pretty popular.
| Report Title : | Report on Agent Banking of Modhumoti Bank Ltd. |
| University Name : | BRAC University |
| Submitted To : | Arifur Rahman Khan |
| Submitted By : | Mirza Sami Adib |
| Total Page : | 27 |
They don’t just do regular banking; they also support farmers, women entrepreneurs, green projects, and more. Plus, they have this online banking system called “GO SMART,” which lets people bank from their phones or computers anytime.
What’s Agent Banking All About?
Agent banking means the bank works with local people like shopkeepers or small business owners who act as mini-bank branches. So instead of traveling far to a real bank, people can do their banking nearby.
This idea is catching on everywhere because it helps people who don’t have easy access to banks. In Bangladesh, the central bank (Bangladesh Bank) supports this idea to reach folks in faraway places. They’ve made rules to keep things safe and make sure customers’ money is protected.
How’s Modhumoti Bank Doing Financially?
Modhumoti Bank shares its money reports every year. If you want to know how much money they make or spend, you can check their official website where they post the latest reports, including the ones for 2023.
What Can You Do With Agent Banking?
Here are some things you can do through Modhumoti Bank’s agents:
- Put in or take out small amounts of cash
- Get foreign or local money sent to you
- Borrow small loans
- Pay back loans or credit cards
- Pay your electricity, water, or other bills
- Receive government support money
- Move money between accounts
- Check your balance
- Fill out forms to open accounts or apply for loans/cards
- Keep track of your loans and payments
- Send or receive cheques
- Pay insurance premiums and more
- Audited Financial Statements 2023: Download PDF
- Annual Report 2023: Download PDF
- Or Click here
These documents provide comprehensive insights into the bank’s financial performance, including balance sheets, income statements, cash flow statements, and detailed notes on financial activities for the year 2023.
Who Can Be an Agent?
Being an agent isn’t just about running a shop. The bank wants agents who.
- Live locally and are officially approved by the bank
- Know how agent banking works and follow the rules
- Can handle cash safely and responsibly
- Are dependable and good with people
- Are comfortable using the bank’s tech systems
- Keep good records of every transaction
- Don’t mix personal business with banking work
- Take their duties seriously
- Protect the bank’s good name in the community
Objective of the project
Main reason
I wanted to understand how agent banking works and how it’s growing in Bangladesh.
Other reasons
- To get to know how Modhumoti Bank works day-to-day
- See how they promote their products
- Learn why their logo looks the way it does
- Understand how the bank is managed
- Suggest ideas to help the bank grow better
Methodology
All the information incorporated in this report has been collected both from the primary sources and as well as from the secondary sources.
Primary Source of Information, What I used?
- Talks with bank managers and staff
- Chatting with customers
- Watching how agent banking actually works
- Official documents and the bank’s website
- News and reports on agent banking
- The bank’s annual reports for 2023 and 2024
Secondary Source of Information
- Personally collected data from officers and employees
- News clips of Agent banking information provided by employees
- Information from MTBL website
- Information from Annual Reports 2024/2025 of MMBL
Conclusion
Agent banking is a great way to help people in rural areas get banking services nearby. It’s especially useful for those who can’t easily get to a bank branch.
Even though it’s a fairly new idea in Bangladesh, more and more people are using agent banking every day. The number of transactions is growing fast, showing how useful this system is for bringing more people into the financial world.
Modhumoti Bank is playing an important role here, making sure that even people in small villages can do their banking without hassle.
