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WSBI welcomes new member Bank Asia

WSBI welcomes new member Bank Asia

​​Bank Asia's President and Managing
Director Md. Arfan Ali

​Technology helps new Bangladesh member serve 311,000 customers in real time

​​​​​​​BRUSSELS, 29 January 2018 – WSBI welcomes Bank Asia from Bangladesh as a new member of savings and retail banking association. They join 109 fellow members from 80 countries all around the world who make up WSBI membership.

Bank Asia started its journey in November 1999. At present Bank Asia is conducting operations through 120 branches, 3 subsidiaries, 133 ATM booths and 3 retail kiosks with around 3000 employees. The bank also operates 5 Islamic windows to ensure financial inclusion of those sections of the society that remain excluded due to religious reasons.

“Bank Asia joined WSBI to exchange knowledge and experience with other financial institutions and migrate global best practices like financial inclusion, digitisation initiatives, digital payment system and other technical issues in banking along with guidelines regarding anti money laundering," says Bank Asia's President and Managing Director Md. Arfan Ali.

Committed to Financial Inclusion

With an aim to serve the unbanked people Bank Asia is now operating EBEK (Ektee Bari Ektee Khamar), a government project for the ultra-poor people of Bangladesh focusing on reducing poverty level by 10% within 2021. Under the project, a total number of 1.63 million beneficiaries have been served with a lending amount of BDT. 24,544 million (around USD 300 million). The bank has implemented 1,494 agent banking outlets all over the country to provide banking services to geographically disperse rural poor segment of the society.

According to Md. Arfan Ali, Bank Asia's aim is to transform Bank Asia to an “every day" bank for a better tomorrow from the conventional brick and mortar model.

Innovation enables to reach previously unbanked people

“Technology has enabled us to serve more than 311 000 customers in real time with biometric authentications. Customers get SMS alerts, receipts against any transaction and instant notifications. The customers that were previously unbanked and underserved, are now enjoying one stop banking services from our agent points. Even the ready-made garments industry workers, school students, smallholder farmers, social safety net beneficiaries and rural insurance holders are also benefiting from our agent banking services. For this reason Bank Asia has been collaborating with a number of national and international partners to facilitate the financial inclusion activities," explains Md. Arfan Ali.


>> Learn more about WSBI membership

>> Visit the Bank Asia website

Financial inclusion; Innovation; Digitalisation