Problems and Prospects of Remittance Service in the Public Banking Sectors of Bangladesh (A study on Janata Bank Limited)

Abstract

JANATA Bank Limited is a progressive Banking in Bangladesh. The Bank has been a nationalized bank, catering the need of the mass business people until recently, when this was corporatized on 15th November 2007. Janata Bank was thus born with a new concept of purposeful banking sub serving the growing and diversified financial needs of planned economic development of the country. JANATA Bank Limited has already established a favorable reputation in the banking industry of the country. It is one of the leading commercial banks in Bangladesh. The bank has already shown a tremendous growth in the profits and deposits sector. Bank serves the customer in different sectors. Remittance is one of the most important services of Janata Bank.Remittance is sending money from one place to another through banking or authorized channel. Banks earn maximum portion of non interest income from remittance.That the increase in remittances is taking place at a time of declining official development assistance flows adds additional importance to the remittance debate and research. Policy makers are increasingly concerned with the impact of remittances on poverty and economic development.