A Client can close his / her bank account in various ways, which are discussed below: 1) Client’s request letter to close the account (request letter approved by the company meeting in case of a company account) 2) Unused cheque book, pass-book, debit/credit card must be returned. If there is no unpaid loan from the … Read more
Development of computer and electronic products paved the way for innovative electronic products in banking business. Bangladesh has also progressed in electronic products in banking business. Bangladesh has also progressed in electronic banking facility is available for 24 hours. We shall now be familiar with various electronic banking products: 1) Debit Card and Credit Card … Read more
Anyone need to consider the following points while opening a bank account: 1) Location of Bank: Before opening an account, a depositor considers location of bank from his/her business centre or his/her residence. 2) Efficiency: Efficiency of the employees of bank is one of the issues to be considered before opening a bank account. 3) … Read more
Banks offer scopes for opening various kinds of accounts according to their clients’ demand. Bank accounts can be categorized into the following types based on people’s occupation, need, time, location and demand: 1) Current Account 2) Savings Account 3) Fixed Deposit In addition to the above three accounts, banks offer following more types of accounts … Read more
Concept of Bank Deposit Deposit is the main source of banking business. Deposit can be collected in many ways. In particular, commercial banks collect deposit through opening different bank accounts on the basis of needs of the clients and organization. Generally, commercial banks collect deposit through current, savings and fixed accounts and then utilize it … Read more
The Concept of Central Bank During the 17th century, different kinds of banks were evolved in different regions; thus the money market controlling activity become most important activity. From this realization central bank was established. This bank couldn’t leave money market in its own way rather it was liable to control the money market mechanism. … Read more
Central Bank acts as a controller of money market and thus provides services towards the government, public and other banks and overall acts as a development body of the country. General Functions 1. Notes and currency circulation: Responsibility of circulating the money and currency is only vested upon central bank. 2. Guardian of the money … Read more
Without one or two exceptions, all central banks of the world are formed under government ownership. In Bangladesh, central bank is known as “Bangladesh Bank”. In Bangladesh Bank, as a chief of management, Governor is performing his responsibilities. As a chief of executive, deputy governors are co-operating the Governor. In 1971 Bangladesh was born as … Read more