Premier Bank : Bank of mass people

Publish: 10:18 PM, October 28, 2020 | Update: 10:18 PM, October 28, 2020

Md. Tareq Uddin
­Banking has become the main driving force of any country’s economy. The Premier Bank Limited, one of the major private sector banks, has been playing a similar role in the country’s economy. This third generation top bank is not only contributing to the development of business but also playing a commendable role in alleviating poverty and creating self-employment for the poor and the destitute at the grassroots level.

The main reason behind this is the founder of this bank, the heroic freedom fighter, former MP Dr. H. B. M. Iqbal. The philosophy that is constantly stirred in this heroic freedom fighter is that we fought the war of liberation under the direction of Bangabandhu, with the aim of establishing a happy, prosperous, self-reliant and exploitation-free Bangladesh. Father of the Nation Bangabandhu Sheikh Mujibur Rahman has spoken in every one of his speeches about changing the destiny of the poor and miserable people.He spoke of the creation of their self-employment, the establishment of a happy and prosperous self-reliant Sonar Bangla. In that light he has added these to the basic policy of the state.He said that Premier Bank Limited is the product of this ideological thinking. The bank is not only investing in the development of industry and commerce, but is also directly helping the poorest to change their fortunes by providing interest / low interest loans, which is bringing huge benefits to the economy of Bangladesh.

The third generation bank has 120 branches. In fact, this bank is a bit different than other banks. Because this bank is not only giving importance to profit making, it is also giving important initiatives and role in poverty alleviation.

Efficient and experienced leadership is the main condition for the smooth running of any organization. No organization can move forward without visionary and efficient leadership. From that point of view, Premier Bank has a skilled and experienced board of directors and management authority. The bank’s advisor is the renowned banker, economist Mohammad Ali, and the managing director and CEO is the eminent banker M.S. Reazul Karim, FCMA.In their overall management, the Bank has made unprecedented progress in massive infrastructural development, enhanced human resource excellence and diversification of customer service and products to make the best use of modern information technology.

Premier Bank Limited has come out of the traditional conventional banking system of the country. A few years ago, this bank used to conduct traditional banking like ten other banks. The bank has made many changes in this regard. As per the instruction of valiant Freedom Fighter and Bank Chairman Dr. H. B. M. Iqbal, Premier Bank has now reached out to the masses.In particular, the bank is working to bring a large number of customers, including cottage, small, medium, agricultural and women entrepreneurs, under banking. Not only have that, for the last three years, more importance has been given to alternative banking channels than the conventional ones. Digital apps have already been launched. Customers get better service through these apps.

ATM booths, agent banking, sub-branches have been introduced as alternative channels. The number of accounts has also increased. RMG is making a huge contribution in the sector. The growth of this bank in import and export is better than many other banks.

Premier Bank Limited continues to make significant contributions to the country’s garment industry. The bank has accounts of more than 260 export-oriented garments industries. From this it can be realized that this bank is making important contribution in the development of garment industry of the country. Apart from this, the bank is also providing grassroots banking services in other sectors of industrial trade. The bank’s chairman Dr. H. B. M. Iqbal believes that today’s child is the citizen of tomorrow and has the potential entrepreneurial mentality hidden in him or her. That is why he has introduced school banking. Premier Bank is a pioneer in school banking in Bangladesh. So far 53,743 student accounts have been opened in different branches of the bank. The amount of their deposit is also above Tk 11 crore 15 lakh. This deposit saves their tiffin money they are depositing.It is through the initiative of this bank that children and adolescents have become accustomed to the banking system and have not been able to develop themselves as worthy citizens of the future. Even during the coronavirus epidemic, the bank has been able to contribute to the country’s economic activities and continues to do so.

The government has tasked the banking sector with disbursing Tk 5,000 crore as an incentive for the export sector, including garments, to cope with the economic crisis caused by the coronavirus infection. Premier Bank has opened accounts for about 40,000 garment workers and distributed salaries for the three months of April-May-June through those accounts. These employees are now involved in the banking system and have access to modern banking.

The bank has also opened a bank account of Tk 10 in the light of government directives and farmers are getting government assistance through this account. Farmers now have deposits of around Tk 1.5 crore in 4,000 accounts.

Premier Bank Limited has given more importance to the SME sector. Mohammad Ali, an advisor to the bank, thinks that today’s successful SME borrowers will emerge as the biggest corporate customers of the future. At the same time, the country’s economy will expand, employment will grow and it will have a positive impact on national production. Premier Bank has been leading the digital banking business since its inception. At present, that trend has accelerated, resulting in increased customer service. Customers are able to enjoy a variety of benefits, including transactions, from the comfort of their own home. It is integrating the country’s banking sector with international banking and has been able to establish itself on a par with banking in developed countries.

Premier Bank Managing Director and CEO, eminent banker personality M. Reazul Karim, FCMA said, “With the foresight of our Board of Directors, we have moved forward with our duties and in continuation of this, Premier Bank has come forward with an exceptional work plan during coronavirus pandemic.” We have deployed manpower where it is needed and all kinds of facilities including annual increment of all officers and employees as per rules continue.We are working to cut the coronvirus recession and make an effective contribution to the domestic economy through other banking activities, including state debt incentives. ”

This private sector bank is operating with utmost care and confidence. It has been able to set an example of consistent financial results, corporate good governance, ethics, transparency, accountability and proper performance in social responsibility. The main person behind these achievements is the efficiency of the chairman of the board of directors Dr. H. B. M. Iqbal. He guarded the bank like a guardian angel.

He said, “It is true that we are the founders of the bank and we have established the bank. But we do not own this bank. Owners are the customers who have deposited here. It is our responsibility to protect the deposited money. He constantly reminds the bank executives about this”. He further said, “Father of the Nation Bangabandhu Sheikh Mujibur Rahman has made the country independent and we have become entrepreneurs of the bank. You can become officers of the bank including MD and DMD.” If the country was not independent, then one would have been a clerk. So much development, so many banks, so many industries could not have been possible if the country did not get freedom”.

So everyone has to work with honesty and dedication. Under his guidance, Premier Bank has been able to establish itself as a people’s bank. Rural farmers and even the poorest of the poor have been able to join the bank and improve their quality of life through micro-credit. The modern bank of the time Premier Bank Limited is entering its 22nd year of establishment. Marking this great occasion we wish good luck to all and constant love to everyone.

The writer is Md. Tareq Uddin, SVP, Head of Brand Marketing and Communication, The Premier Bank Limited.