Author Topic: Automated Banking Sector and Possible Unemployment!  (Read 2189 times)

Offline raju

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Automated Banking Sector and Possible Unemployment!
« on: June 04, 2011, 07:56:27 AM »
Dear Students and Faculty Members:

I would like to welcome you all to join a discussion on “Structural Unemployment and Technology”.

May be it’s true that around 50% of our young people are dreaming to get a job in banking sector! Being the coordinator of CDC have seen most of ( about 80%) BBA and MBA students are seeking internship or job for the same.

To me it’s really alarming when the sector is going to be automated entirely very soon!

Please join the discussion for creating sustainable hope and activism.

Regards,

Raju
« Last Edit: June 04, 2011, 08:00:27 AM by raju »
Syed Mizanur Rahman
Head, Department of Journalism and Mass Communication
Director of Students' Affairs, DIU

Offline Md. Limon Hossain

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #1 on: June 04, 2011, 09:03:12 AM »
Now-a-days bank jobs are become very demandable. Everyone wants to be a banker because of its social value. After doctors & engineers now people are giving more attention to a banker.

Not only BBA MBA students are desire for bank job students from others disciplines also want to be a banker.
  
When all of our banks become fully automated then there will not require much people in banking sector. We should consider the modern technology.

We should be more creative & diversify our thinking towards others sectors.
Md. Limon Hossain
Department of BBA
ID: 082-11-523
Cell: +8801717885679
E-mail: limon-hossain@diu.edu.bd And limon.hossain@yahoo.com
Daffodil International University

Offline raju

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #2 on: June 04, 2011, 10:29:17 PM »
Thank you dear Limon for your posting. Expecting other people as well.
Syed Mizanur Rahman
Head, Department of Journalism and Mass Communication
Director of Students' Affairs, DIU

Offline shibli

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #3 on: June 05, 2011, 11:36:31 AM »
The prospect of automated banking is no doubt huge in Bangladesh but the existing banking system with a touch of automation will be running up to the next 50-60 years.
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.

Offline shibli

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #4 on: June 05, 2011, 07:34:58 PM »
I opened an account at Sonali bank and after 25 years it remained the same....no major change at all in service
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.

Offline shibli

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #5 on: June 06, 2011, 10:45:35 AM »
There is huge difference between internship placement and job placement. Most students who do their internship in a bank don't end up in getting a job there. For a student internship is just to be attached with an organization to learn practical experience on how a particular department of an organization or the organization works itself.  On the other hand, getting a job requires skills and abilities along with minimum CGPA as per the requirement of a particular company. Sometimes, a student can manage it even by his or her own network and join any company as he or she wishes or aims to work for. For example, one of our respected colleagues Opu bhai got a very good job as the Chief of IT at Standard Chartered Bank and Major Khaled, former graduate of DIU is holding a big position in the same bank. Yes, there is possibility of unemployment if the automated banking sector thrives but banking sector is the heart of any economy of a country. There are still many chances for graduates to work there where the traditional interest-based economy is demolishing and the world is sliding into the depths of recession.........

Nevertheless, it is also true that students should look for other career rather than banking only but as an internship placement, the bank is Not bad at all.
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.

Offline Md. Limon Hossain

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #6 on: June 08, 2011, 10:39:04 AM »
Dear Shibli Sir:
I am strongly agree with your statement "Nevertheless, it is also true that students should look for other career rather than banking only but as an internship placement, the bank is Not bad at all."

Bank job is service based & it has huge demand for internship as well as job. Everyone wants to get in bank. That's why I am looking for some alternatives. If I can not get in bank then what should be my next choices.

I am waiting for your suggestion. I hope we are students will get very good direction. I am sure your direction will help us to get in a right organization in right position.
« Last Edit: June 08, 2011, 10:42:54 AM by Md. Limon Hossain »
Md. Limon Hossain
Department of BBA
ID: 082-11-523
Cell: +8801717885679
E-mail: limon-hossain@diu.edu.bd And limon.hossain@yahoo.com
Daffodil International University

Offline shibli

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #7 on: June 08, 2011, 10:58:02 AM »
First of all, you have to identify your strengths and weaknesses. If you are creative and have high imaginative power, you can be a graphics designer or can work for an advertising company. If you are very good at English, you may join foreign embassies with high salary. So, it entirely depends on your strengths and vision what you want to be and hope to get out of life and how far you dream to take yourself. But mind you, don't forget about Allah who is the sustainer and cherisher of the worlds.

Have pure fun and keep smiling.
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.

Offline shibli

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Philip Kotler
« Reply #8 on: June 08, 2011, 11:17:50 AM »
Philip Kotler's first advice to future leaders is this: don't focus too narrowly even if you want to be in marketing. He shares the idea that one should do major in two areas: marketing and finance. Those who want to be CEOs in future must know finance well...

The world's #1 guru in strategic marketing shared a new set of 5 Ps for the future business leaders:
1. Purpose 2. Principles, 3. People 4. Protect the planet and 5. Profitable.

He challenges the young minds with the question: why can't you in Bangladesh create brands that will be well known worldwide?!
« Last Edit: June 08, 2011, 11:20:25 AM by shibli »
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.

Offline shibli

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #9 on: June 09, 2011, 11:02:24 AM »
Dear Limon
One of the functions of the university is to develop character and personality and to produce men and women who should develop fellow feeling and compassion for others. You will of course choose a profession according to your intellectual ability, taste and temperament. But you should always bear in mind that nothing can be achieved without hard work, devotion and commitment. It is your performance and dedication that will translate your academic degrees into a successful life. A mere academic degree will soon be a past event. What will matter is your continuous performance.

Wish you every success in life.
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.

Offline sakhawat

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #10 on: June 09, 2011, 07:50:04 PM »
Dear Limon,

If you think you are good at accounting, you can go for professional degrees like CA, ACCA, CMA.
If you are good at finance than its better for you to study CFA after graduation. For further query you can meet me.

wish you good luck.
Mohammed Sakhawat Hossain, ACMA
Assistant Professor & Head
Department of Real Estate & Commerce
Faculty of Business & Economics
Daffodil International University
Cell: 01713-493090
E-mail: sakhawat@daffodilvarsity.edu.bd

Offline shibli

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #11 on: June 11, 2011, 02:46:17 PM »
Dhaka, Mar 31: Dutch-Bangla Bank Ltd along with Banglalink and Citycell telecom operators in Bangladesh, has introduced “Mobile Banking” aiming to provide banking facility to those people who are deprived of banking service. Attending as chief guest Bangladesh Bank (BB) Governor Dr Atiur Rahman inaugurated the “Mobile Banking” services at a city hotel on Thursday.

The main task of banking sector is to provide financial service to the people, the central bank governor said and added there was no alternative to use information and technology for providing the financial services to the people at a cost-effective and speedy manner. Ensuring modern technology in the banking and financial sector is one of the prime aim in the present strategy policy of the BB, Dr Atiur said, Online Banking, Automated Clearing House, Online CIB as well as Mobile banking, has been introduced to modernize the country’s banking system.

Mobile Banking is an alternative to prevailing branch banking system as well as a real online banking service, he added. This new service will facilitate in delivering the banking service to the door steps of the country’s un-banked population at a seedy and cost-effective way side by side it will ensure banking service at any time and any place across the country, he said. People will get some basic banking and financial facility through this new service including depositing and withdrawing service, payment of shopping, payment of utility bill, disbursing salary, drawing money from ATM, disbursement of remittance, recharging facility in mobile instantly, BB Governor said.

Mobile banking is more safe and quick, Dr Atiur said and called upon all banks to enhance their clients services through availing the utility of modern technology as like mobile banking.
People can open mobile account through paying only Tk 10 to the agents of Banglalink and Citycell, approved by the Dutch-Bangla Bank Ltd.
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.

Offline Faiyaz

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #12 on: June 12, 2011, 02:38:48 PM »
Dear Teachers,
I am really very confused...   
I just cannot set my aim...
Firstly, I don't know why but I don't see myself doing typical 9-5 chores (communicating with the clients and doing routine activities) at a bank since I don't feel that is the sector what I'm destined...
Secondly, my live long dream is to read accounting. I just don't wanna get a degree on it but I wanna imbibe the true knowledge of it. Once my dream was to hold any professional degree in accounting (it could be C.A etc.) but it could not happen since I don't have A+ in the board exams, because one needs to have A+ in both the exam formats to qualify for the ICMA offered degrees, I suppose. But yet I wanna fulfill my grandpa's unfulfilled dream INSHALLAH, what he could not accomplish due to maintain family duties.       
Thirdly, I love to do creative and marketing related things. Like when I see any ad, I just thing how this would make an impact to the minds of the viewers? What strategies one firm can make to outlast it's competitors etc. I mean, I would love to do strategy and communicational works of marketing INSHALLAH.
Now aren't these contradictary?
Please give your feedback. It would help a lot. 
M. Faiyaz Naveed
Asst. Administrative Officer
Office of the Pro-Vice Chancellor
Daffodil International University

Offline raju

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #13 on: June 12, 2011, 03:04:17 PM »
Dear Faiyaz,

Creative mind can create more synergic actions in life. Good to see you at CDC sometime to talk in person too.

For now I would say, You are on track

Raju
Syed Mizanur Rahman
Head, Department of Journalism and Mass Communication
Director of Students' Affairs, DIU

Offline shibli

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Re: Automated Banking Sector and Possible Unemployment!
« Reply #14 on: June 12, 2011, 07:32:43 PM »
Faiyaz, my boy

Build on your strength
Not on your weakness.

More when we meet.

« Last Edit: June 13, 2011, 02:41:34 PM by shibli »
Those who worship the natural elements enter darkness (Air, Water, Fire, etc.). Those who worship sambhuti sink deeper in darkness. [Yajurveda 40:9]; Sambhuti means created things, for example table, chair, idol, etc.