The Farmers Bank Limited introduced recovery software on Saturday in an effort to ensure secure banking in its operations, a statement from the bank said.
The new generation bank launched the software through a day-long seminar in the city where departmental heads and managers of the branches were present.
Managing Director and Chief Executive Officer Md Ehsan Khasru formally inaugurated the software and spoke briefly in the opening ceremony.
Mr. 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 the launching of this software. It will speed up recovery of defaulted loans,” he said.
All the bank’s clients, especially the borrowers will be constantly monitored with this recovery software, he said.“This 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,” he said.
During his speech, Mr. Khasru stressed hassle-free customer services in all branches and highlighted key banking strategies for providing smooth services in the bank. Senior executives including Ali Zariab, Deputy managing director also spoke on the occasion and emphasized the urgency of speedy recovery at this juncture.
Head of legal Mr. Atif Khaled spoke about the implications and legal directions in long non recovery situation. He spoke on a new legal model to expedite the recovery process. This model will bring a sensation in the industry.
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 within five years it has set up 57 branches in major cities and towns in the country.
-rmc//
