Agent Banking means providing banking services to the bank customers through the
engaged agents under a valid agency agreement, rather than a teller/ cashier. It is the
owner of an outlet who conducts banking transactions on behalf of the concerned bank.
Globally these retailers are increasingly utilized as important distribution channels for
financial inclusion. Bangladesh Bank has also decided to promote this complimentary
channel to reach to the poor segment of the society with a range of financial services
specially of this geographically dispersed locations.
The following services will be covered under Agent Banking:
I. Collection of small value cash deposit and cash withdrawal (ceiling should be
determined by the bank );
II. Inward foreign remittance disbursement;
III. Facilitating small value loan disbursement and recovery of loans, Installments;
IV. Facilitating utility bills payment ;
V. Cash payment under social safety net programme of the Government ;
Facilitating fund transfer;
VII. Balance inquiry;
VIII. Generation and issuance of mini bank statements;
IX. Collection and processing of documents in relation to account opening, loan
application, credit and debit card application from public;,
X. Post sanction monitoring of loan and advances and follow up of loan recovery.
XI. Other Functions like deposit collection, payment of insurance premium etc.
XII. Sale of crop and other insurances
The agent's activities would be within normal course of banking business of the
commercial banks but conducted at places other than bank premises/ ATM booths.
Agents are not allowed to provide the following services on behalf of the banks:
I. Opening of bank accounts and issuance of bank cards/ cheques;
2. Conducting money changing activities
3. Dealing loan/ financial appraisal and
4. Encashment of cheques.
[Source: Bangladesh Bank]
Sayed Farrukh Ahmed
Assistant Professor
Faculty of Business & Economics
Daffodil International University
