The Farmers Bank Limited on Saturday introduced recovery software in an effort to ensure secured banking in its operations.
The new generation bank launched the software through a daylong seminar in Dhaka city where departmental heads and managers of the branches were present, said a press release of the bank.
Managing Director and Chief Executive Officer (CEO) Md Ehsan Khasru formally inaugurated the software at a simple ceremony at the Farmer’s Bank Limited Training Institute.
Speaking at the function, Khasru said the recovery software would easily detect loan defaulters of the bank.
“The Farmers Bank Limited makes a giant leap in ensuring safe and secure banking in all its branches through launching of this software. It will speed up the recovery of defaulted loans,” he said.
“All the bank’s clients, especially the borrowers will be constantly monitored with this recovery software”.
Khasru also said the software is procured as part of the bank’s growing investment in most modern technology to make sure the Farmers Bank emerge as a top banks in the country within the next three years.
Senior executives including Ali Zariab, Deputy managing director also spoke on the occasion and emphasised the urgency of speedy recovery at this juncture.
The Farmers Bank Limited is majority controlled by institutional investors following a restructuring in its ownership early this year, according to a BSS report.
Four state-owned banks — Sonali, Janata, Agrani and Rupali — and the Investment Corporation of Bangladesh now own more than 60 per cent of the bank.
The bank started its operation in 2013 and it has set up 57 branches in major cities and towns in the country within five years.
