Banks in Bangladesh are now focusing on opening sub-branches instead of agent banking outlets for being a more cost-effective and efficient means of brining banking services to the people’s doorstep.
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NRBC Bank recently signed an agreement with ICB Asset Management Company Limited (IAMCL) to sell the latter’s 15 open-end mutual funds as a sales representative.
The government awarded licences to set up new nine banks in 2013 despite criticism from analysts and economists and initial reservations from the central bank since the number of lenders was already high in Bangladesh and approvals were largely given on political consideration.