An Analysis of the Marketing Activities of Jamuna Bank Limited: A Study on Sonargaon Road Branch

Abstract

Bangladesh became independent in 1971 from 1971 Bangladesh has crossed many ups and down to become an established country. To manage and utilize the financial system properly, Bangladesh Bank was held under the Act in 1972- President's Order No. 127 of 1972 (Amended in 2003) as a central bank of Bangladesh. After becoming the central bank, Bangladesh Bank permits 62 private banks in Bangladesh. To take the banking facilities at the doorsteps of the customer, there was no choice for Bangladesh Bank except permits the private banks. Private bank helps to let the central banking system facilities at the customer’s doorstep. From 1972 to 2022, total 62 local private bank and 9 foreign commercial banks operating in Bangladesh. The private banks were born to help the government protect the financial rights of the customers. In 2003, the central bank of Bangladesh, Bangladesh bank changed some rules on behalf of the people of Bangladesh and the private bank. Bangladesh Bank is working to protect the rights of both parties. Here parties represent customers and private banks. Between the 62 private bank and 9 foreign banks, Jamuna Bank is one of the leading local banks of Bangladesh. With total 160 branches throughout the country, Jamuna Bank is targeting to grab the corporate clients to get the utmost output from the trendy yet challenging market. In 2001, some local yet powerful entrepreneurs of Bangladesh planned to open a multi dynamic bank which can make the market’s money more secure and utilize it in such a way which can make the Bangladesh safer for the entrepreneurs. With that proper mind set the Jamuna bank has begun, and now it is the Bangladesh’s local leading bank which can make the people’s money secure and the people lend money if they need for business or personal purposes. Jamuna Bank Limited is the third generation Bank of Bangladesh which provides superior service to their clients and potential clients and trying its level best to make the banking systems flexible so that everybody who lives in Bangladesh can take services from Jamuna Bank. Jamuna Bank first opened their branch in Gulshan in 2001 but now in 2020 it has 160 plus branches all over the country. The bank, aside from conservative, also delivers Islamic banking through elected branches. The Bank has real-time online banking brushwood (of both urban and rural areas) network to deliver online banking. Jamuna Bank has 21 Authorized Dealer branches to procedure the import and export dealings. Besides, the bank has 2 Trade Finance Processing Centres (TFPCs) at Dhaka and Chattogram. According to the system, TFPC is managing all the foreign trading system of the Bank. Whenever the foreign trading takes place in any of the branches of Jamuna Bank Limited, TFPC department monitor all the systems of the foreign trade and make sure for the smoother transactions. TFPC is the service centre of the Non-AD Branches of the bank for trade services, i.e. import, export, guarantee, inward remittance, outward remittance. The bank has one Offshore Banking Unit.