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Banking

Overview:

Banking Career has a huge prospect now a days in a developing country like Bangladesh. A number of Banks are there both in Government and Private sectors which facilitate the young generation to come forward and work for them to increase the development rate of Bangladesh. The rapid growth of economics in this country is encouraging a lot of youth souls to get engaged in this sector.

Building career in Banking sector is not that difficult but you must have the determination and devotion to this profession. The job is hard and laborious but the outcome is really worthy.

source: http://bankinfobd.com/blog/5-steps-to-build-your-career-in-banking-sector

The banking sector in Bangladesh is thriving. It hires a large number of people every year to serve its growing customer base. Nowadays, a large number of job aspirants want to build a career in banking as it offers structural learning options as well as competitive pay packages.

source: http://bankinfobd.com/blog/the-race-for-skilled-resources-is-on

Banks

After the independence, banking industry in Bangladesh started its journey with 6 Nationalized commercialized banks, 2 State owned Specialized banks and 3 Foreign Banks. In the 1980's banking industry achieved significant expansion with the entrance of private banks. Now, banks in Bangladesh are primarily of two types:

Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended upto 2013) are termed as Scheduled Banks.

Non-Scheduled Banks: The banks which are established for special and definite objective and operate under the acts that are enacted for meeting up those objectives, are termed as Non-Scheduled Banks. These banks cannot perform all functions of scheduled banks.

There are 56 scheduled banks in Bangladesh who operate under full control and supervision of Bangladesh Bank which is empowered to do so through Bangladesh Bank Order, 1972 and Bank Company Act, 1991. Scheduled Banks are classified into following types:

State Owned Commercial Banks (SOCBs): There are 6 SOCBs, which are fully or majorly owned by the Government of Bangladesh.

Specialized Banks (SDBs): 2 specialized banks are now operating which were established for specific objectives like agricultural or industrial development. These banks are also fully or majorly owned by the Government of Bangladesh.

Private Commercial Banks (PCBs): There are 39 private commercial banks, which are majorly owned by the private entities. PCBs can be categorized into two groups:

Conventional PCBs: 31 conventional PCBs are now operating in the industry. They perform the banking functions in conventional fashion i.e interest based operations.

Islami Shariah based PCBs: There are 8 Islami Shariah based PCBs in Bangladesh and they execute banking activities according to Islami Shariah based principles i.e. Profit-Loss Sharing (PLS) mode.

Foreign Commercial Banks (FCBs): 9 FCBs are operating in Bangladesh as the branches of the banks which are incorporated in abroad.

There are now 4 non-scheduled banks in Bangladesh which are:

  • Ansar VDP Unnayan Bank,
  • Karmashangosthan Bank,
  • Probashi Kollyan Bank,
  • Jubilee Bank

source: www.bb.org.bd/fnansys/bankfi.php

Banking jobs in Bangladesh: the market

The banking and finance sectors in Bangladesh are coming back to life. Both sectors are feeling the need to catch-up to other international institutions and as a result they are looking to fill job vacancies. This means that the sector as a whole will have plenty to offer recent graduates and people looking to make a change.

Because there are so many different types of jobs available in this field the demand for high quality individuals is high. There are many different career paths available for people who currently work in the industry or who are looking to start. As a result there are many places where people can start their career off, but through hard work and a bit of luck who knows where it might finish. You could work infinance, trading, investment, insurance, data analysis or even as a cashier. Everyday there are more and more vacancies opening up in the banking sector in Bangladesh, which means there has never been a better time to get involved.

What kind of jobs can you find in Banking?

Banking careers are very interesting, the jobs are numerous and they vary widely in their scope of operations and responsibilities. An entry level position you can find in this industry is working as a Bank teller.

Bank teller: Bank tellers are found in all brick and mortar banks as well as many online institutions. The bank teller is the person a customer will speak to when they visit a branch or call. They are responsible for conducting many many of the everyday transactions of customers.

Branch manager: A branch manager is responsible for overseeing the day-to-day operations of a particular branch. They will also need to oversee specialized duties with regards to business operations as well asstaff supervision.

Loan officer: Is tasked with helping individuals and organisations to borrow money. Also known as brokers, they usually specialize in one of three types of loans:commercial, consumer and car loans.

Credit analyst: It’s the responsibility of the credit analyst, to study the details of a person or company’s finances in order to determine the applicant’s ability to repay a loan. And make a judgement as to whether the bank or financial institution should approve the loan application.

The types of jobs you can find in banking and finance are not limited to working in a retail bank, there are plenty of job opportunities available for qualified individuals to become commercial and investment bankers. You can find a job as a financial analyst, trader, compliance officer, quantitative analyst and a portfolio manager.

source: www.everjobs.com.bd/en/jobs-bd/all/banking/

Useful jobsites for banking:


List of some bank in Bangladesh:


Other useful sites:


Advice:

Step 01: Check these issues with yourself, your compatibility with a banking career, whether you pay attention to detail or not, have a drive for perfection, like to achieve goals, enjoy constantly learning new information and skills, present a dependable image, like to work with people (some of whom can be very demanding) and have a clean criminal record? If so, move on to Step 02.

Step 02: Best chance to build a banking career is to have a Bachelors' degree in Business Administration but from other academic background there is a strong competency as well. All you have to do is to build your basic knowledge and ideas about banking and related events. Strong hold on Mathematics and English is a must along with good communication skill. So target these areas and start working accordingly.

Step 03: After completing BBA/MBA or Master Degree from any reputed university you can easily apply for a bank jobs if there is any advertisement from the Banks. You have to keep your eyes open and grab the opportunity the soonest it comes in your sight. Applying is not the onlyvcriteria to get a job, it is just a way to make an opportunity. You have to be well prepared for their examinations. You can consult many sample books available in the market regarding Bank Examinations. For latest information about the banks you can be in touch with the national daily newspapers as well as bank web sites. To minimize your searching hassle BankInfoBD.com has got all the latest information and news about thebanks of Bangladesh. Just browse the site and you surely will have a glimpse over the ongoing events about the banks.

Step 04: There is another way you can build your career in banking sector. Bangladesh has a training institute specialized on banking sector named BIBM (Bangladesh Institute of Bank Management). It is located in Mirpur, Dhaka. Every year a limited number of students sat for admission test in BIBM and after a hard competition around fifty students are selected for the training in the institute. This is a one year long program and after passing from the institute successfully it does not remain difficult at all to get a very good job in any bank of Bangladesh. So this could be a very best option for you to build your career in banking sector.

For more info visit: http://www.bibm.org.bd/ 

Step 05: The final is to be more focused and being consistent with your work. Organizational power and communication skill is must to survive and to become successful in banking sector. Emergency situation management and client handling has to be impressive. Besides, presentation is very significant in this corporate world. If you can present yourself impressively your work is half done. So be prepared for office, concentrate on your work and client. Listen to them attentively and act accordingly. If you are sincere in your work success will just be a matter of time. 


source: http://bankinfobd.com/blog/5-steps-to-build-your-career-in-banking-sector

 

What kind of qualifications and skills do you need?

When working as a manager or a specialist, involved in business and finance, you need at least a college degree. An accountant,credit analyst or auditor for example will usually have a Bachelor’s degree or a very specific qualification. A master’s degree is even necessary for top positions such asbank manager or branch director. Business school diplomas are another great alternative.

For executive positions, you will also need either a diploma or another qualification. If you have a degree unrelated to banking but skills in finance, accounting, data entry and/or sales, you could also manage to get an executive position in a bank. In a nutshell, a minimum level of education and some other skills will be your pass to the world of banking. But what are those other skills?

A good credit score, no criminal records, some references from your former employers, a good level of math and IT skills are great qualities and are very useful when working in the banking sector. If you are aiming at a position where contact with customers is important, you will need to show excellent communication skills, ability to understand customers’ requests, positive attitude to problem solving and excellent presentation skills.

Does this sound like the kind of career you’d be interested in? If that’s the case you shouldn’t delay any further and apply online to find some of the best jobs available in both banking and finance. Even if you’re just starting out, you’ll be able to find an entry level position that matches your skills and qualifications.

source: www.everjobs.com.bd/en/jobs-bd/all/banking/