Agents will provide the following services to the public:
a) Collection of small value cash deposit and cash withdrawal, facilitating utility bills payment;
b) Inward foreign remittance distribution, inland remittance, facilitating fund transfer;
c) Facilitating small value loan disbursement and recovery of loans & instalments, post sanction monitoring of loans and follow up;
d) Cash payment under different programs of the government like social safety net, elderly allowances, freedom fighters allowances, student's scholarship, Gov't portion of teachers' salary, other pensions, Ekti Bari Ekti Khamar (EBEK) etc.;
e) Balance inquiry, generation and issuance of mini bank statements (last 3 transactions, however bank may change the number from time to time);
f) Collection and processing of documents in relation to account opening, loan application, credit and debit card application from public;
g) Other functions like payment of insurance premium, sale of crop etc.;
h) Any other suitable products/ services compatible to combat the informal banking/ Hundi.
MDB will determine the transaction amount Agents will handle in a single transaction/ day/ month/ year/ client in different category services mentioned above. Transaction amount will be determined depending on business, area, agent category, nature of transaction/ services/ products, customers' requirement, type of customer I.e, account holder or non-account holder, security issue, local authority guidance, regulatory requirement etc. Bank will also review and change this amount from time to time.
MDB will consider the following persons/ entities as Agent:
a) Post Offices, NGO/ MFI's regulated by Micro Credit Regulatory Authority of Bangladesh;
b) Cooperative Societies formed and controlled/ supervised under Cooperative Society Act;
c) Companies registered under Bangladesh Company Act, 1994 excluding Non-Banking Financial Institutions;
d) Offices of rural and urban local Government institutions like Union Information Service Centre (UISC), known as Union Digital Centre (UDC);
e) Agents of insurance companies, Agents of Mobile Network Operators;
f) Educated Individuals/ business association leader capable to handle IT based financial services;
g) Owner/ proprietor/ partner/ shareholder/ director of pharmacy, chain grocery shop, petrol pump/ CNG station.
Agent Qualifications are as follows:
a) Agent must be a permanent resident of Bangladesh (As per as NID/Passport);
b) Agent must have enough infrastructures for conducting Agent banking;
c) Agent should be financially solvent & have ability to hard cash transaction;
d) Agent should have ability to meet commitment with customer under adverse situation;
e) Agent should have knowledge and ability to handle Technology based financial services;
f) All deeds/transaction’s record should be preserved for internal audit with enough securities;
g) Agent cannot be engaged with any subversive activities;
h) Agent should have ability to perform his/her responsibility properly;
i) Agent must be concerned about the reputation of the institution;
j) Agent should not be a loan defaulter and not penalized by any civil or criminal court.