AKM Zamir Uddin

When the majority of banks are struggling to survive from the ongoing financial meltdown brought on by the coronavirus pandemic, Dhaka Bank has introduced a novel banking product that will help clients open their account from home.

The lender rolled out the product named “Account from Home” in mid-May to help clients open accounts by way of maintaining social distance, Emranul Huq, managing director of the bank, told The Daily Star in an interview recently.

The agents of the lender now deliver welcome pack at customers’ doorstep (maintaining health and safety standard) including free debit card and cheque book and collect documents with their signature.

The banks’ accounts are increasing at a faster pace after the product’s launch, Huq said.

The lender, which marked its 25th anniversary on July 5, invested nearly $7 million last year to upgrade its online platform as part of its effort to make both the digital and virtual banking vibrant.

“This has helped run our business to a great extent at a time when banks from across the globe encourage clients to do banking while sitting from home to control the spread of the pandemic,” Huq said.

The lender has already introduced a good number of digital products riding on the investment, which are serving its clients, he said.

Another virtual banking product namely “Dhaka Bank Trade Cloud” has recently been introduced, which now helps clients to open letters of credit sitting from their home and office.

The move is allowing clients to submit all export and import-related documents digitally. The businesses are being allowed to carry out trade-related procedures just by turning up at a branch once.

The bank, which commenced its commercial operation in 1995, is one of the leading players in trade-based financing in Bangladesh. It accounts for more than 3 per cent of the country’s total trade volume.