An agent shall not: Enter into agent banking contract with more than one bank. Operate or carry out an electronic transaction when there is communication failure/error in the system; Carry out a transaction when a transactional receipt or acknowledgement cannot be generated; Charge customers directly any fee beyond banks’ prescribed fees; Offer any type of guarantee in favor of any customer; Offer banking services on its own accord (provide banking services on its own account similar to those provided by it under an agency contract) or offer services that the principal is not authorized to offer; Continue with the agency business [...]
An agent may provide any of the following services as may be specifically agreed between it and the bank: 1. Cash deposit and cash withdrawal; 2. Inward foreign remittance disbursement; 3. Disbursement and repayment of loans; 4. Collections of bills/utility bills; 5. Collection of insurance premium; 6. Payment of retirement and social benefits; 7. Payment of salaries; 8. Transfer of funds; 9. Balance enquiry; 10. Generation and issuance of mini bank statements; 11. Collection of documents in relation to accounts; 12. ollect account opening forms, loan application forms, credit and debit card applications; 13. Monitoring and recovery of loans and advances [...]
The following juristic persons are eligible to act as banking agents: MFIs regulated by Microcredit Regulatory Authority of Bangladesh; NGOs registered with Social Welfare Directorate; Societies registered under the Societies Registration Act, 1860; Cooperative Societies formed and controlled/supervised under the Cooperative Society Act, 2001; Government offices having branch/unit offices; Courier and mailing service companies registered under Ministry of Posts & Telecommunications; Companies registered under the Companies Act, 1994; Agents of mobile network operators that fulfils the eligibility criteria as laid down in these Guidelines; Local government institutions; Union Digital Centre (UDC); Agents of insurance companies that fulfil the eligibility criteria as [...]
Bank related persons as defined in section 26M of the Bank-Company Act, 1991. Bank officials will not be eligible to become an agent in the same bank within 1 (one) year of his/her retirement or resignation. Defaulters with any bank or financial institution. Bankrupts. Convicted by a court of law, up to 3 (three) years after completion of sentences or penalties. Under investigation for any criminal charges. Under investigation or convicted of money laundering or terrorist financing activities. Under investigation of the Anti-Corruption Commission.
It shall be an entity having valid business license or permit for any lawful business. The owner or manager of the entity or the juristic person shall possess at least 1 (one) year of experience in the related field. It shall be carrying out the business activity on ongoing basis. It shall possess managerial, financial and technical expertise for managing agent banking outlet of a bank in addition to its regular operations. It shall have willingness and capacity to invest in managing liquidity, risk management, security management and continuous capacity development. The unit agent must have at least 2 (two) persons [...]
It shall be an entity having multiple branch offices or outlets, either owned or otherwise engaged legally by it. If the entity is a private sector organization, it shall possess a business license or permit for any lawful business activity. The owner or manager of the entity or the juristic person shall possess at least 1 (one) year of experience in the related field. It shall be carrying out the business activity on ongoing basis. It shall possess managerial, financial and technical expertise for managing agent banking outlets in addition to its regular operations. It shall have willingness and capacity to [...]
An entity should fulfil the following conditions to be eligible for entering into contract with banks: It should be a juristic person; Agent banking shall not be in ultra vires to the parent, statute, memorandum and articles of association or other constitutive document or objects of the juristic person; and The agent, in the case of a proprietorship, or the agent’s directors, significant shareholders, and/or senior officers, as the case may be, is fit and proper.