remittance trend of ibbl

1. Presentation on Remittance
trend of IBBL
Presented by:
Sakiba Ahsan
Dept. of MIS
University of Dhaka

2. Remittance Growth rate of
Bangladesh
• Bangladesh ranked 5th in 2011 among the
highest remittance recipients of the world.

3. Why This Robust Growth?
• Stable macro-economic indicators including GDP
growth
• Steady growth in manpower export specially in the
middle east
• Substantial devaluation of the local currency
• Increased focus of Central Bank and the Government to
channel funds through formal channels
• Expansion of branch network of various commercial
banks
• Anti-Money Laundering rules and regulations came in
force

4. Prospect: Challenges Ahead To
Bangladesh
• The government needs some 5.0 billion US dollar to
stabilize economy at this moment. NRBs can set up a
business conglomerate in the country where they
will invest their hard-earned money. NRBs are keen
to invest in the country. The government should
come forward to provide facility for the investment.

5. Remittance Services of IBBL
FDD
Express Remittance
AS SOON AS presented
Highest time within 12 hours money is
deposited in receiver’s account and it is deposited in
through BEFTN money is deposited
within the 2nd working day in other
receiver’s account
bank’s account
Spot Cash
Instant cash
Receivers can get easy
cash taka

6. Steps taken by IBBL
• Accolades for best use of remittance
organized by RMMRU-IBBL
• IBBL holds views exchange meeting with
remittance beneficiaries
• Win 200 Mobile Phones

7. Remittance trend and services
Year Wise Remittance Growth of IBBL

8. Country Wise Remittance of IBBL
Contribution of different countries in remittance (%)
in 2011
Malaysia Singapore
Canada Others
Bahrain 9% 1%
0% 0%
3% Italy Korea Brunei
Oman 1% 0% 0% KSA
Qatar 3% 45%
1%
USA
8%
UAE
15%
Kuwait UK
12% 2%

9. Position of IBBL among Top Sixteen
banks of the country
Share of Remittance in 2011 among Top 16 Banks
IBBL 26.07%
Sonali 10.09%
Agrani 9.74%
Janata 7.86%
National 6.05%
Figure in million USD
BRAC 4.67%
Uttara 4.16%
Southeast 4.16%
Pubali 2.75%
Prime 2.62%
The City 2.11%
AB Bank 1.97%
Bank Asia 1.79%
NCC 1.78%
UCBL 1.55%
Trust Bank 1.16%
Dhaka Bank 1.07%
Eastern Bank 1.00%
Eastern Dhaka Trust Bank The City Southea
UCBL NCC AB Bank Prime Pubali Uttara BRAC National Janata Agrani Sonali IBBL
Bank Bank Bank Asia Bank st
Volume 121.22 130.52 140.83 187.98 216.51 217.78 239.98 256.48 318.94 334.05 506.00 506.60 567.78 736.50 956.54 1,185.45 1,226.91 3,170.96
Share 1.00% 1.07% 1.16% 1.55% 1.78% 1.79% 1.97% 2.11% 2.62% 2.75% 4.16% 4.16% 4.67% 6.05% 7.86% 9.74% 10.09% 26.07%

10. Growth of Remittance Business (Country Vs. IBBL)
Figure in million USD
2010 2011 Growth (%) Share of IBBL (%)
2010 2011
(1) (2) (3) (4) (5)
Country 10990.16 12155.46 10.60 27.40
IBBL 3012.09 3170.96 5.27 26.09

11. Usage of remittance in Profitable projects
• NRB (Non Resident Bangladeshi) Entrepreneurs Investment Scheme
(NEIS)
Objectives :
• To extend investment facilities to Bangladeshis (NRBs) working abroad,
intending to invest in Bangladesh.
• To patronize NRBs to invest in the homeland and thereby contribute to the
GDP towards growth and development of the country.
• To create employment opportunities for NRBs on their return & their
children.
'Mudaraba Foreign Currency Deposit Scheme (Savings)‘
To encourage savings in Foreign Currency by offering a safe and profitable
opportunity to the savers/investors by way of sharing a portion of the
profit out of the investment of their funds as per principles of Shariah.
Mudaraba NRB Savings Bond (MNSB) Scheme
FC ACCOUNT

12. Variables that affect
customer satisfaction
• Adjacent to home/work place
• Convenience of transaction and payment
facilities:
• Money Transfer Fees
• Safety and security etc.

13. SWOT
• Strength: • Weakness of IBBL
 Handling of 29 % of total  Dishonesty of people
remittance  Lengthy process between
 Affordable exchange house to and
 Safe & reliable bank to bank
 Trustworthiness
 Anti-money laundering
campaign • Threats:
• Opportunities:
 Grab the new market:  Less number of branches
 Diversified customer
 Increased competition

14. Recommendations for Remittance
Services: Specially for IBBL
• Door to Door Delivery - Cash / Cheque
• Introduction of Mobile Banking for Remittance
Payment:
• SMS notification on Foreign Remittance.
• Remote branches performance
• Need to increase the number of counter
• Increase the number of money exchange agents
• Service charge
• Monitoring the fraudulent activities related to
foreign remittance.

15. THANK YOU!