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Report on Agent Banking of Modhumoti Bank Ltd: Modhumoti bank ltd (mmbl) started its operation as a commercial bank in Bangladesh at 19th September, 2013 after obtaining license from Bangladesh Bank. The Bank’s vision is to lead the new generation of local commercial banks by excelling in customer delivery through insight empowered employees, smart use of technology and a full scale of highest quality products and services.
The bank’s leadership includes Chairman Humayun Kabir and Managing Director and CEO Md. Shafiul Azam, who brings over 33 years of banking experience. Modhumoti Bank Ltd. has strategically focused on serving Small and Medium Enterprises (SMEs) in rural areas, aligning with its mission to support inclusive economic growth.
With a network of 44 branches across Bangladesh, including locations in Chattogram, Modhumoti Bank Ltd. ensures accessibility to its services nationwide. The bank’s commitment to integrity, transparency, and quality service has established it as a significant player in the country’s banking sector.
| 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 |
Modhumoti Bank ltd. offering a comprehensive range of services, the bank caters to various sectors, including retail, corporate, SME, agri and rural banking, women entrepreneurs, and green banking. It also provides digital banking solutions through its “GO SMART” internet banking platform.
Business Activities of Modhumoti Bank ltd:
Agent banking services is banking services which are provided through engaged agents under a valid agency agreement, service agreement or a similar agreement. It is the owner of an outlet or branch who conducts banking transactions on behalf of a structural bank. These retailers globally square measure being progressively used as necessary distribution channels for money inclusion. Bangladesh Bank has additionally determined to push this complimentary channel to achieve to the poor phase of the society additionally as existing bank client with a variety of monetary services particularly to geographically spread locations. With a read to making sure the security, security and soundness of the planned delivery channel Agent Banking pointers are framed by the Bangladesh Bank to allow banks to be engaged in agent banking.
Financial Statement of Modhumoti Bank Ltd:
You can access Modhumoti Bank PLC’s audited financial statements and annual report for the year ending December 31, 2023, through the following official links:
- 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.
Key Agent Banking Services of Modhumoti Bank Ltd:
The following services will be covered under Agent Banking:
- Receiving of small value cash deposits and cash withdrawals
- Inward foreign and local remittance disbursement
- Facility of small value loan disbursement
- Recovery of accounts, cards, loans, installments to customers
- Facility of utility bill payment and other bills
- Cash payment under the Government social safety net programmer
- Facilitating fund transfer from account to account
- Balance inquiry and information
- Collection and processing of forms/documents in relation to account opening, loan application, credit and debit card application from public
- Post sanction monitoring of loans and advances and follow up of loan recovery.
- Receiving of clearing and issuing cheque.
- Other functions like collection of insurance premium etc.
(Agent Banking)
Required Qualification for performing as Agent:
- Agent must have a permanent resident and authorization
- Must have enough guidelines and knowledge for conducting Agent banking.
- Agent should be financially self-dependent & have the ability to cash transaction.
- Ability to meet commitment with customer.
- Agent should have knowledge and ability to handle technology and its financial services.
- All transactions with the customers which are recorded should be preserved for internal audit with enough securities
- Agent cannot be engaged with any personal and unauthorized activities.
- Agent should have ability to perform the given responsibility accurately
- Agent must be concerned about the reputation of the institution and its well-being.
Objective of the project:
Primary Objective
There is only one objective in this report for my internship, which is –
• “To learn about Agent banking and currently its prospects in Bangladesh”
Secondary Objective
- Getting familiar with the environment of a multinational financial institution of Bangladesh that is Modhumoti Bank ltd.
- Identify advertising principal of Modhumoti Bank ltd. products.
- Modhumoti Bank’s logo color symbol.
- To know about the management style and organizational structure of Modhumoti Bank ltd.
- To suggest necessary measures for the development of Modhumoti Bank ltd. Bangladesh.
Methodology:
For preparing this term paper I have used some official information’s and documents. The report is descriptive in nature and also included my internship experience. The information mainly collected from the GB at Modhumoti bank (mmbl). The sources of information are collected from are-
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
- Oral interview with Executive officers from MMBL
- Conversation with the customers and employees
- Discussion from the employees and executive officers about the prospects of agent banking.
- Relevant information about agents and their purpose.
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:
Modhumoti bank is A banking service that can bring rural people to more financially advance and to be treated like all the customer of a bank and have facility like a Bank is actually an Agent banking is all about. Agent banking is a very special and unique service that can provide very important transaction facility to rural people. Though it’s a new service in this country yet customer is increasing day by day are taking services and dealing a lot of transaction through agent banking.
