I work in a garment-related industry. Recently, when I received an LC payment I found Standard Bank Ltd. deducted an amount of USD 120.00 (one hundred twenty US dollar) from our payment as commission. I was shocked because it was too high. Where normally other commercial banks charge USD 20.00 to USD 50.00 for a similar job, commission of USD120.00 which is equivalent to BDT 9,600.00 is too high and not justifiable. Banking should be transparent and service oriented, and it should not be a tool to make undue profit. We see the commercial banks deduct many fictitious charges which are difficult for us to understand.
Unjustifiable and unreasonably high bank charges hurt the small and medium businesses and they never get to flourish the way they should have been. I hope Bangladesh Bank will set up a monitoring unit to identify this malpractice so that the banks can not overcharge their clients with high and exorbitant commissions.
Mohammed Sohel Hara
Bonosree, Dhaka
[email protected]
- Saturday, 23 November 2024 |
- Today's FE |
- e-Paper |
- Beta Website
