Standard Chartered Bank Consumer Division Investigation

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Section I
INTRODUCTION
1. Introduction
1.1 Origin of the Report:
An Investigation into the Consumer Banking Division of Standard Chartered Bank in Bangladesh
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This Internship Report has prepared as a requirement for the completion of the BBA
Program of School of Management and Business Administration, Shahlalal University of
Science & Technology.
Since the BBA program is an integrated, practical and theoretical method of learning, the
students of this program are required to have practical exposure in any kind of business
organization as last term of this course. The primary goal of internship is to provide an
on-the-job exposure to the student and an opportunity for translation of their theoretical
conceptions in real life situation.
After the completion of BBA program, I was placed in Standard Chartered Bank, Sylhet
branch where my organization supervisor was Mr. Rahat Shams, Branch Sales & Service
Manager, SCB Sylhet Branch, and my institution supervisor was Mr. Fazle Elahi
Mohammad Faisal, Lecturer, Department of Business Administration, Shah- Jalal
University of Science & Technology. The duration of my organizational attachment was
three months, starting from January 01, 2007 to March 01, 2007.
This report covers the topic An Investigation into consumer Banking Division of
Standard Chartered Bank, Bangladesh.
1.2 Objective of the Report:

The report focuses on two parts. They are:
Primary Objective
The main objective of the report is to make an investigation on the various
service dimensions provided by Standard Chartered Banks Consumer
Banking Division in Bangladesh.
Secondary Objective
Briefly observe the banking environment of Bangladesh
Identify the major strengths of the SCBs customer service division.
Explore the types of product & service provided by SCB
Provide probable solutions for the improvement of the customer service
1.3 Methodology of the Report:
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All the information incorporated in this report has been collected both from the primary
sources and as well as from the secondary sources. The details of these sources are
highlighted in the following.
1.3.1 Primary Source of Data:
Collecting data directly from the practical field is called primary source of data. The
methods that were used to collect the primary data are as follows:
Discussion with officials of SCB
Face to face conversation with the clients.
1.3.2 Secondary Sources of Data:

The secondary data has been collected from different publication of Standard Chartered
Bank. To clarify different conceptual matters, Internet and different articles published in
the journals & magazines have been used. The Secondary Sources are:
Annual Reports of SCB
Other published documents of SCB
Internet
Newsletter of SCB
Periodic Bulletins published by the Bangladesh Bank
Various brochures on the products and services offered by the SCB
Publication of Bangladesh bank
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1.4 Scope of the Study:
In this paper, I took Standard Chartered Bank, as ground-field, the leading foreign bank
in our country. It has been operating here since 1948, celebrated its golden jubilee
recently has almost become an icon among the foreign banks operating in our country.
So, while going through my study, I come up with lot of things and scopes available. The
main scope of this study is the findings regarding SCBs operating and production
technology.
But, the most important and interesting scope provided by this report is the opportunity of
interacting with all the wonderful people working here. Because of the most profound
and innovative production technology, the bank is already in a top position in this sector.
Apart from that, the other scope of this report is the efficient management and productive
techniques adopted by the bank.. This report may act like a guide in revealing some of the
important aspects of SCB.
Finally, this report mainly tends to determine the various product and service dimensions
that Standard Chartered Banks Consumer Banking Division provide to customers and to
what extent Standard Chartered Bank has been able to meet them.
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1.5 Limitations:
Data Confidentiality
Information in the bank is confidential & critical. The main barrier in preparing this
report was data confidentiality. Though I saw the Banks internal procedure that is being
used in processing and evaluating any documentary operation, I was advised not to
disclose that in my internship report.
Time Limitation
Very limited time was one of the most faced obstacles while preparing this report. The
duration of internship is only three month, which is very insufficient to understand a
broad sector like banking. Due to time shortage, details of many aspects of the services of
SCB have to ignore in this report.
Place Limitation
Since I was placed as an intern of Sylhet branch (Consumer Banking Division), I was not
able to venture into many departments which are conducted centrally from Dhaka.
Information Validity
Data was collected through observation and discussion with bank personnel. Statistical
analysis of the data has not been done. Thats why the findings are not statistically
validated. The report is based on data of the previous year and the beginning of the
current fiscal year as the latest data was not available immediately.
Section II
STANDARD CHARTERED BANK: LEADING THE WAY IN ASIA, AFRICA &
MIDDLE EAST
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2.1 Historical Background of SCB:
The name Standard Chartered basically comes after two banks which merged in 1969.
They were originally known as the Standard Bank of British South Africa and the
Chartered Bank of India, Australia and China.
Of the two banks, the Chartered Bank was established by Royal Charter from Queen
Victoria in 1853. The key person behind the Chartered Bank was a Scot, James Wilson.
He started The Economist, which is still one of the world's pre-eminent publications
and during his early days he also made his fortune in London making hats. He visualized
the advantages of financing the growing trade links with the areas in the east, where none
of the other financial institutions were present at that time and as such the Chartered
Bank opened two branches in 1858 in Chennai and Mumbai. The same year the bank
opened another branch in Shanghai. The following year the Chartered Bank opened a
branch in Hong Kong and an agency in Singapore. In 1861 the Singapore agency was
upgraded to a branch which in turn financed the rapidly developing rubber and tin
industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in
Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a
privilege it continued to exercise up until the end of the 19th Century.
On the other hand, the Standard Bank was founded by Scot, John Paterson in 1862. He
immigrated to the Cape Province in South Africa and very soon he became a successful
merchant there. He also visualized the great trading possibilities between Europe and his
adopted country.
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From the very beginning both the banks were keen to capitalize on the huge expansion of
trade between Europe, Asia and Africa and to reap the handsome profits to be made from
financing that trade and for that they expanded and prospered with time and decided to
merge in 1969. After the merger the new shares of the Standard and Chartered Banking
Group Limited were listed in the London Stock Exchange on January 30 th, 1970.
Although the two banks merged in 1969, but their operations were being executed from
two different headquarters, until on June 1980, the original building of the Chartered
Bank was demolished and a new headquarter of the Standard Chartered Bank PLC was
opened on March 20th, 1986. Right after the merger the bank experienced continuous
growth and expansion in United States and Europe, which led the bank to be one of the
top 100 listed banks in the world. Moreover, it was also judged the best bank in the AsiaPacific region in 1993 and 1994 for its excellent service and growth rate as well.
2.2 Organizational Overview:

Standard Chartered Bank derives its name after two banks Standard Bank of British
South Africa and the chartered Bank of India, Australia and China. The merger took place
in 1969. Standard Chartered Bank is regulated by the Bank of England and is a clearing
bank in the United Kingdom.
The new millennium brought with it two of the largest acquisition in the history of the
bank- the acquisition of the Grindlays Bank from the ANZ group for a consideration of
$1.34 billion and acquisition of the Chase Consumer Banking Corporation in the Hong
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Kong for $ 1.32 billion. These acquisitions demonstrate Standard Chartered Banks firm
commitment to the emerging markets.
Standard Chartered employs 33,000 people in over 550 locations serving 56 countries
and territories across the Asia Pacific region, South Asia, the Middle East, Africa, the
United Kingdom and the Americas. It is one of the worlds most international banks with
employees representing 80 nationalities.
Standard Chartered serves both Consumer and Wholesale Banking customers, is well
established in growth markets and aims to be The Right Partner for its customers. The
Bank is trusted across its network for its standards of governance and its commitment to
making a difference in the communities in which it operates.
The group provides consumer-banking services to individuals and small to medium size
businesses, and offers Wholesale Banking capabilities to corporate and institutional
clients. With 150 years in the emerging markets the group has unmatched knowledge and
understanding of its customers in its markets. Standard Chartered recognizes its
responsibilities to its staff and to the communities in which it operates. Their 150 years of
history gives them a deep better understanding of their markets, their customers, and the
local communities in which they operate. It is a strong platform for future growth.
Standard Chartered is holding leading positions in dynamic markets. They are in some of
the worlds fastest growing markets including he United Arab Emirates, India, China, and
the markets of South Asia. They are present in many of their markets for several
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generations and have became a trusted partner to businesses and individuals. In other
words, they are trusted and well respected provider of financial products and services.
They have built up an enviable knowledge of local markets in Asia, Africa, the Americans
and the Middle East. In many cases, they have had a presence for more than a century.
Their first two branches were in Calcutta and Shanghai and we have been operating
continuously in China for the last 144 years.
2.3 Global presence of Standard Chartered Bank:
Standard Chartered Bank has its prominence presence in total of 48 countries:
Africa
Asia Pacific
Latin
Middle East & UK & USA
Botswana
Australia
America
Argentina
South Asia
Bahrain
Falkland Islands
Cameroon
Brunei Darussalam
Brazil
Bangladesh
Jersey
Gambia
Cambodia
Colombia
India
UK
Ghana
China
Mexico
Iran
USA
Kenya
Hong Kong
Peru
Nepal
Sierra Leon
Indonesia
Venezuela
Oman
South Africa
Japan
Pakistan
Tanzania
Laos
Qatar
Uganda
Macao
Sri Lanka
Zambia
Malaysia
UAE
Zimbabwe
Myanmar
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Table: Global presence of Standard Chartered Bank (Source: Internet)
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China(15)
Macau(1)
Jersey(1)
Bahamas(1)
Iran(1)
United Kingdom(86)
Bahrain(5)
Taiwan(2)
Oman(1)
Pakistan(6)
India(28)
Nepal(1)
Bangladesh(5)
Qatar(1)
United States of America (4)
Hong Kong (80)
UAE(6)
South Korea(1)
Japan(1)
Philippines(4)
Laos (1)
Vietnam(2)
Cambodia(1)
Mexico(2)
Venezuela(4)
Kenya(31)
Sierra Leone(1)
Peru (6)
Uganda(1)
Gambia(5)
Colombia(13)
Argentina(1)
Brazil(1)
Tanzania(3)
Ghana(20)
Indonesia(5)
Cameroon(3)
Brunei(15)
Botswana(15)
Zambia(14)
South Africa(1) Zimbabwe(44)
Singapore(22)
Malaysia(35)
Australia (1)
Thailand(2)
Falkland Islands(1)
Myanmar(1)
Sri Lanka(3)
() Number of Offices
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MAP: Global Presence of SCB
2.4 Present Situation of SCB:
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Globally, the key resources of SCB include:
A network of over 600 offices in 50 countries.
A staff of about 33000 people managing assets of around 47 billion pounds
Standard Chartered Banks international business in Personal Banking, Corporate
Banking and Standard Chartered Markets are its special strengths.
Standard Chartered Bank also maintains correspondents relationship with over
600 banks in 157 countries around the world.
2.5 Global Strategy:

The global strategies of Standard Chartered Bank are:
To build and grow strong businesses in East and South East Asia- the Asia Pacific
Region.
To enhance historical position in the Middle East and South Asia region.
To concentrate operations in those activities that support Standard Chartered Banks

remarkable franchise in newly industrialized and emerging markets.
2.6 Operation of Standard Chartered Group:

Standard Chartered is an emerging market, bank with a strong presence in Asia, the subcontinent, the Middle East, Africa and in Latin America. They are a disciplined
commercial bank focused on their core businesses of Consumer Banking, Corporate and
Institutional Banking and Treasury. Standard Chartered Bank is regulated by the Bank of
England and is a clearing bank in the United Kingdom. The head office of the group is
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located at Standard Chartered PLC, 1, Aldermanbury Square, London, UK. The group
operates through more than 600 offices in over 56countries and has over 33000 people
managing assets of over 47 billion pounds. In 1997, the bank were ranked 94th in the
world in asset size. Among them it has 239 offices in Asia, 33 offices in South & North
America, 95 offices in Africa and one office in Australia. The global network of the bank
is shown in the following diagram;
Global Net-work of Standard Chartered Bank

South &
North
America
9%
Africa
26%
Asia
65%
Figure: Global Network of Standard Chartered Bank

Source: www.standardchartered.com
The bank aims to be the leading international bank in principal markets. It mostly
concentrates on markets and businesses that they understand best. They provide high
quality products supported by proven delivery systems and excellent customer service.
SCB trains and develop people and exercise community responsibility. In this way, they
will grow and add shareholder value. Apart than this, there is a chief executive for each
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country, who will be in-charge of Standard chartered bank for that respective country and
he is obliged to regional heads. This strong administrative hierarchy ensures the smooth
operation of the bank through out the world and enhancing its diversified services to
everybody.
2.7 Business Activities of the Global Standard Chartered Bank:

The bank provides a full range of products and services all around the world, some of
which are mentioned here:
2.7.1 Global Consumer Finance:

There are seventy-six branches and finance centers under this division in about the
countries with a workforce of 1616 employees. Some of the services provided by this
divisions are unsecured personal loans, credit cards and retail store cards, vehicle related
leases, etc.
2.7.2 Personal Banking:

There are about 410 branches with a workforce of 12,000 employees working under this
division in 28 countries. Some of the services provided by this division are various kinds
of insurance and loans, account maintenance, travelers cheques and money exchange etc.
2.7.3 Global Corporate and Institutional Banking:
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There are 350 branches under this division. This division provides services in 42
countries. The services provided by this division are International Trade Management,
Institutional banking, Treasury, Custody and Cash Management.
2.7.4 Global Custodial Service:

There are 17 offices under this division and about 900 staff members, operating in 14
countries and headquartered in Singapore. Standard Chartered Equator fulfils standard
Chartered Banks strategic commitment to provide custody and clearing services in the
Greater Asia. Standard Chartered Bank has one of Asias leading custodians over 40
years. Equators focus is on the followings:
Commitment to equity
Dedication to the customer needs
Sustained investment in people and systems.
2.7.5 International Trade Management:

Principle services of this division are to the people are Import Letter of Credits(L/C),
Import Bills for Collection, Back to Back Letter of Credit, Direct Export Bills for
Collection, Bulk Letter of Credit Collection, Bonds and Guarantees.
2.7.6 Global Cash Management:

The division is operational in all countries where the group has Corporate & Institutional Banking division. Standard Chartered Bank
recognizes the importance of Cash Management to corporate and institutional customers and offers a comprehensive range of services
and liquidity management.
2.7.7 Global Institutional banking:
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Throughout Standard Chartered Banks network of more than 600 offices in over 40
countries, it is very well positioned to provide a wide range of services to institutional
clients: commercial, merchant & central banks; brokers and dealers; insurance
companies; fund managers and others. Offices of emerging markets of Asia, SubSaharan, the Middle East and Latin America are complemented by the branches in the
developed countries such as USA, UK and Japan and banks membership of the clearing
systems in those countries. The Institutional banking group has a network of offices in 25
countries throughout Asia, North America, Europe, Africa and The Middle East.
2.7 .8 Global Electronic Banking:

Electronic Banking Provides various types of support through a wide range of operating
systems, sweeping transaction accessories with the provision of reporting features or
other special functions.
2.8 Expansion of SCB:

Acquisition has long been popular vehicle for expanding the scope of the organization
into new business areas. Companies typically acquire a company when they lack
important competencies (resource or capabilities) and very often they end up purchasing
an incumbent company that has those competencies and they do so at a reasonable price.
2.8.1 The Acquisition of ANZ Grindlays by Standard Chartered:
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The acquisition of Grindlays Bank from the ANZ Banking Group by the
Standard Chartered Group on 1st October 2000 was opportunity
driven. It has given Standard Chartered an opportunity to expand into
new areas where it was not operating at all. Moreover, buying
Grindlays from ANZ now propels it from number five to number one
among international banks in India, with some extra footholds in the
Middle East. In addition to that, at 1.3 bn U.S dollars, it is hard to
complain that Standard Chartered has overpaid. The financial ease is
less compelling for ANZ shareholders, as there are advantages to
getting out of a strategically peripheral business.
This acquisition of Grindlays Bank has added 6000 employees and 4
countries to Standard Chartereds existing network of 27,000
employees and 600 offices in 50 countries. The end result is that
Standard Chartered, which went into the 1997 Asian Crisis with
strong business in Hong Kong, Singapore and Malaysia, emerges with
additional core markets in India and Thailand. Moreover, the deal has
made Standard Chartered the largest foreign bank by assets in India,
Pakistan and Bangladesh and the second largest in Sri Lanka and the
United Arab Emirates. The bank had been seeking to expand in the
region since the end of the Asian economic crisis, and has finally
become successful in its expansion.
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2.8.2 Acquisition of Korea First Bank:

SCB has most important strategic step this year has been the acquisition of Korea First
Bank (KFB). SCB has made a good start on integration by addressing following areas:
Aligning both management and governance

Integrating two cultures and this includes building productive working
relationships with key stakeholders

Expanding the product range at KFB, and moving quickly and effectively to bring
new products to the market.
2.8.3 Company Image and Logo
Standard Chartered Bank is a solid, forward looking, modem foreign bank with a long
record of sound performance. The effort that Standard Chartered Bank makes in order to
portray the Bank as a brand image is very strong and successful. The general image of
Standard Chartered Bank is that it is Trustworthy, efficient, helpful and committed. The
logo of the bank depicts the merger of two banks.
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Section III
STANDARD CHARTERED BANK IN BANGLADESH
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3.1 Standard Chartered Bank in Bangladesh:

The Chartered Bank opened in Chittagong in 1948, which was, at that time, the eastern
region of the newly created Pakistan. The branch was opened mainly to facilities the postwar re-establishment and expansion of South and South East Asia. The Bank opened its
first branch in Dhaka in 1966 and shifted its headquarter from Chittagong to Dhaka after
the birth of the Republic of Bangladesh in 1971.
The Bank presently has 21 outlets in 6 cities serving over 65,000 customers.
The network of Standard Chartered Bank in Bangladesh includes:
11 Branches in Dhaka
1 Branch in Savar
1 Branch in Narayanganj
5 Branches in Chittagong
1 Branch in Khulna
1 Branch in Sylhet.
1 Branch in Bogra
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Branches of SCB all over the country:
The SCB with its 21 branches and 28 ATM booths across Bangladesh has employed more
than 600 people. The acquisition has enabled Standard Chartered Bank (SC) to access
500,000 new customer and 40 branches in India, and this made them one of the biggest
bank in this region. After acquisition, Grindlays Bank is a part of Standard Chartered
Group. The Bank presently has 18 outlets in 5 cities serving over 1,25000 customers.
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Comparison in Terms of Deposit

Among The Foreign Banks
OTHERS
HSBC
4%
22%
AMEX
23%
Credit
Agricole
17%
SCB
34%
Credit Agricole
SCB
AMEX
HSBC
OTHERS
Figure: Comparison in terms of deposit among the foreign banks.

Source: www.standardchartered.com
3.2 Standard Chartered Acquires American Express Banks Business in Bangladesh:

On June 2005, Standard Chartered formally announced that it has signed an agreement to
acquire the commercial banking business of American Express Bank Limited in
Bangladesh. Finally on 31 July 2005, Osman Morad, Chief Executive Officer of Standard
Chartered Bank Bangladesh and Qamar Hussain, Senior Country Executive of American
Express Bank Ltd, signed the documents for their respective organizations on the
completion of the purchase process following relevant statutory approvals.
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Over a three-month transition period ending 31 October 2005, all the assets and liabilities
of American Express, including customer deposits and loans, will be transferred to
Standard Chartered. It is planned that American Express will cease to operate as a
commercial bank in Bangladesh with effect from 1st November 2005 and all its branches
and cash booths will be converted to the Standard Chartered brand and operating
platforms on such date.
The network of SCB engages itself for providing best quality banking service in retail,
commercial and corporate banking segments. The countries top Enterprises;
Multinational, Local Corporation and Financial institutions are served by SCB. With total
asset based of BDT 17.5 billion and annual turnover of BDT 1.78 billion, SCB in
Bangladesh is among the top performing multinational bank.
3.3 Achievements Of Standard Chartered Bank in Bangladesh:

Since its inception, Standard Chartered Bank created a well-earned reputation among the
banking sector by providing excellent services to its customers. As a result within these
fifty years it becomes the leader of foreign banking institution across the country. The
reason behind its success and popularity is the innovative techniques and the excellent
work force. SCB is always front-runner adopting in any latest technology in the world.
Because it believes that innovative technology is a key asset for the future of banking.
Our strategy is to invest in those systems that will enable them to upgrade and enhance
financial services. Initiatives include the spreading of high quality transaction processing
across the Group; the use of workflow technologies such as electronic imaging; the
introduction of state-of-art Cash Management and trade products; and fully automated
branch services. They are also harnessing technology to improve our risk management
system and the internal process for sharing information, thus solving business problems
and meeting customer needs in the first moving markets.
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While Standard Chartered Bank in Bangladesh is yet to be at forefront of many of these

developments they are already recognized as the technological leader in the banking
sector of Bangladesh for their following achievements:
Standard Chartered Bank is the only bank with 24 hours automated PhoneBanking service.
State of art ATM network running on unique platform
Usage of optical storage for retrieval of records on customers request.
On-line real-time connection among all branches.
Full-fledged back-up data center support.
Only bank in the country to use inter-city VSAT link.
Only Bank using automated mailing system.
SWIFT communication for payment transfer.
E-mail service network amongst all the branches.
Standard Chartered Bank recognizes their responsibility to invest in communities world

wide not just as a moral duty, but because they know they are inter-dependent with the
communities in which they operate. They believe that investing in the well fare of the
community is a worthwhile cause for their shareholders.
They are active in their community work, identifying the causes they wish to support
today. Standard Chartered Bank is the corporate sponsor of the Young Learners Center,
initiated by the British Council in Dhaka and Chittagong and they are involved in a fresh
Water For Slum Areas project with a major a NGO. These fit into the Group Sponsorship
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priorities of youth, health, and education. They also invest in their industry training local
bankers both in Bangladesh and abroad to encourage growth in services, product
development, and market yields.
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Section IV
SERVICE & ORGANIZATIONAL STUCTURE OF SCB
4. Service & Organizational Structure of SCB:

There are different divisions for targeting different type of customers. Mainly consist of
two divisions, that is Consumer Banking Division (C B) and other is Corporate Banking
Division named Corporate and Institutional Banking (C & I).
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Consumer banking division meets the needs of individual customers with

various products like Savings Account, Extra Value Savings Account, Access
Account, Call Deposit, FCY Deposit, NFCD Fixed Deposits, RFCD Account,
Personal Loans, Auto Loans, Flexi loans, Cash Line, Installment loans, etc. This
department also deals with other savings instruments like education savings
scheme, rainy day scheme, marriage day scheme, millionaire scheme (some
printed brochures are enclosed in the Appendix)
Corporate and institutional banking meets the needs of companies, banks and
other financial institutions. Standard Chartered provides a full range deposit and
loan products to it's corporate clients. Rapid decision-making is an important
feature of SCBs services to international and domestic companies doing business
in Bangladesh. All accounts are assigned to a Relationship Manager to look after
client needs. Each relationship manager keeps close contact with the client
obtaining in-depth knowledge of the client's business and providing timely advice.
This divisions products include network banking and borrowing services like
working capital loan, long term loans, short term loans, margin account,
commercial large loans, real estate apartment loans, heavy transport buying loans,
real estate mortgage loans, construction loans, restaurant loans, and above all it
includes all international trade related services like L/C issuing, L/C amendment,
L/C Transfer, L/C Confirmation, Negotiation, Bank Guarantees, etc. These
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products are only served to the corporate clients of the bank, and those are mostly
local corporate, large and local corporations, multinational national companies.
Organization
Individual
Companies
Banks and other

Financial Institutions
Consumer Banking
Corporate & Institutional

Banking
Treasury
Figure 3: The Relationship between Respective
Customers to Different Departments of SCB

Source: SCB Official Document
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This focus allows the business to develop an in-depth understanding of the banks
customers evolving requirements. This in turn enables SCB to develop the products and
services that help them to stand out from the competition. Treasury provides support to
the customers of both these business and develops customers (both individual and
organizational) of its own.
4.1 The Division of SCB Bangladesh:

The bank is divided into several divisions and business units, which are also further subdivided. The divisions are mainly based on some service lines designed for and provided
to targeted customers, other divisions and units are there to support the business activities
of the major service based divisions. The following is the list of the divisions of SCB in
Bangladesh. Note that the divisions are little different compared to the major areas of the
Group.
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4.1.1 Major Business Units:
Banking Services of
Standard Chartered
Bank
Corporate
Banking
Consumer
Banking
Corresponde
nt Banking
Phone
Banking
Banking
Services:
Merchant
Banking
Commercial
Banking
Institutional
Banking
Product:
Trade Finance
Letter of Credit
Bid/
Performance
Bonds
Working
F
Capital Loans
Services:
Services:
Services:
Personal
Banking
Consumer
Finance
Credit Cards
Inter Bank
Transaction
Operation of
Accounts over
Phone
Product:
Product:
Product:
Investment
Management
Wage Earners
Scheme
Lockers
Deposit
Services
Cheque
Purchase
Guarantee
Risk Exposure
Account
Balance
Fund Transfer
Figure: Banking Services of STANDARD CHARTERED BANK
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4.1.1.i Corporate Banking Group
Standard Chartered Bank offers its local customers a wide variety of financial services.
All the accounts of corporate clients, which mainly comprise the top local and
multinational companies operating in Bangladesh, are assigned a Relationship Manager
(RM) who maintains regular and close contact to cater to their needs. The objective of
this department is to maintain a thorough knowledge of the client's business and to
develop positive relationships with them. This is maintained through interactions to offer
timely advice in an increasingly competitive business environment. The expertise of the
Financial Institution (former Institutional Banking) and Treasury groups is also available
whenever required. The unique Off-shore Banking Unit (OBU) in Savar offers a full
range of facilities to overseas investors, and recently that Savar Branch have expanded
many of its activities. The Corporate Banking Group in Bangladesh has displayed a spirit
of community involvement by working with NGOs to underwrite soft loans. Standard
Chartered Bank offers its corporate customers:
The wide varieties of lending needs are offered with skilled and responsive
attention.
Project finance and investment consultancy.
Syndicated loans.
Bonds and Guarantees.
Local and International Treasury products.
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The trade finance of Standard Chartered Bank takes care of the commercial activity
related issues, particularly those related to import and export finance services. Some of
the services are:
Trade finance facilities including counseling, confirming export L/Cs and issuing of
import L/Cs, backed by its international branch and correspondent loan network Bond
and Guarantees Project finance opportunities for import substitution and export oriented
project
4.1.1.ii Treasury Division:

The foreign exchange and money market operation of the Standard Chartered Bank in the
world is extensive. Exotic currencies happen to be one of its special areas of strength. A
24 hour-service is provided to customers in Bangladesh through the Bank's network of
dealing centers placed in the principal of the world. The Bank's treasury specializes in
offering solutions to those who wish to manage interest rate and currency exposures that
result from trade, investment and financing activities of other dynamic economies of the
region. Treasury operations are developed in line with changing market conditions to
provide the best services to its customers. According to BAFEDA (Bangladesh Foreign
Exchange Dealers Association), Standard Chartered Bank presently controls 42% of the
local foreign exchange market's traded volume.
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4.1.1.iii Financial Institution Department:

Financial Institution Department (former Institutional Banking) is a specialized banking
unit of Standard Chartered, providing products and services to the specific needs of other
banks and financial institutions. It assists the local banks by taking care of their crossborder business through the worldwide Standard Chartered Bank networking over 40
countries. It offers various services like L/C Confirmation, Negotiation, Inter and intra
Bank Guarantee, Local Bill Discounting, L/C Advising, L/C Transfer, L/C amendment
advising, Reimbursement Undertaking and Authorities, Fund Transfers, Export proceeds,
BDT Draft Drawing, International Payments (T Ts), Account Services (Vostro Account
Management)
4.1.1.iv Consumer Banking Division:

Superior retail banking services comprising a wide range of deposit and loan products are
offered by the Standard Chartered Bank to its individual customers. The Consumer
Banking division constantly faces challenges and meets them by developing new
products and services to fulfill the specific requirements of local and foreign customers.
Bank offers a 24-hour service in Bangladesh through its Moneylink ATM network and
Phone-link Phone Banking services.
4.1.1.v Card Division:
35
Card is the latest area that has been identified for rapid development. The bank is the one
of the acquirers of three major cards in Bangladesh. Two of the credit cards are VISA and
MASTER CARD and the one is the charge card known as Japan Credit Bureau (JCB).
Standard Chartered Bank is the subsidiary or secondary agent of the credit cards and a
primary agent of JCB.
SCB started its cards operation in 1989 as a part of retail banking. Initially, SCBs card
market was very small, with only 30 merchants. But seeing the economies and the
consumers attitude towards the credit card has given the opportunity to expand their
market base by acquiring high quality merchants in the chosen segment. The bank is the
first to introduce the TAKA CREDIT CARD. The card is issued basically to a persons
name and the specific person can use the card in anywhere in Bangladesh.
4.1.1.vi Custodial and Clearing Service:

Headquartered in Singapore, Standard Chartered Equitor fulfils the group's strategic
commitment to the provision of custodial service in Asia. Equitor's customers are
primarily foreign global custodians and broker/dealers requiring cross border information
as well as sub-custodian services. Standard Chartered Bank, Bangladesh is responsible
for the planning in Bangladesh, but the overall management of the custody business is
based on Equitor's international business strategy.
36
4.1.2 Supporting Departments:

4.1.2.i Information and Technology Department:
This department is instrumental in the running of all the computerized operations of the
bank. They help in the implementation and generation of computerized reports. Another
major duty of the department is to maintain communication with the rest of the world.
4.1.2.ii Operation:
Operation is part of the support division, which helps to run the businesses of the bank in
a smooth and controlled manner. Since it helps mainly in processing the works of the
business units, any mistakes made can be easily detected and on time.
Following are the main functions of the operations department:
Central operations deals with the closing and opening of accounts and other payment
and account related processing of the Personal Banking division
Treasury operations help to deal with the processing works of the treasury division.
Loan Administration Unit (LAU) deals with the processing of the Corporate Banking
division.
Operations also have a department that deals with internal projects that arises from
the need to deal with certain problems or to make certain changes.
37
4.1.2.iii Legal and Compliance:

In the UK, Standard Chartered Bank is regulated by the Bank of England, while in
Bangladesh local banking laws regulate it and rules set by the Ministry of Finance and
Bangladesh Bank. It also encourages its staff to conform to an internal culture of ethical
behavior and sensitivities to the culture and religion of the country.
Some of the key areas that the Legal & Compliance department has to take care of are:
any kind of legal issues, to advise the CEO regarding all matters and the management on
legal and regulatory issues, correspond regulatory compliance issues to MESA Regional
Head of Compliance, and supervise internal control (e.g. internal audit).
4.1.2.iv External Affairs:

This department deals with advertising, public relations, promotions, partial marketing
which involves disseminating new products and services to customers and above all
ensuring service quality.
38
Section V
HUMAN RESOURCE DIVISION OF STANDARD CHARTERED BANK
39
5. Human Resources Division of SCB

This department manages recruitment, training and career progression plan. Standard
Chartered Bank highlights the importance of developing its people to create a culture of
customer service, innovation, teamwork and professional excellence. SCB recruits people
by two ways. One is a Management Trainee that has a probation period of six months
and after the probation period the trainees will be counted as an officer and they will do
the different kinds of managerial works and another is Non Management Trainee which
does not have any fixed probation period. Time required for training is department on the
recruited persons performance. In case of non-management trainee, two ways of
recruitment is taken place. They are (a) taken by signing a contract with some outside
organization for three months and after three months the contract may be renewed or not
depending upon the employees performance. These people coming through outside
contract are called Out Source. (b) Taken by signing a contract with the bank for the
three months and after three months the contract may be renewed or not depending on
his/her performance. These people coming through bank contract are called In source.
5.1 Controlling Structure at SCB
Alike all other big multi-national companies, management in SCB consists of planning
organizing, directing, controlling all of the resources of an organization. The goal of
Standard Chartered Bank is to be the "Bankers of First Choice." Towards that goal, the
overall planning in the Organization is done at the headquarters level in Dhaka by a
Management Committee (MANCO), headed by the CEO and consisting of the business
heads like Corporate Banking, Consumer Banking, Treasury, Global Markets, and from
the support divisions the heads of Human Resource, Operations and Finance
Departments. They meet once a month, or when special situations arise, to plan the
40
strategic decisions. The decision making, although apparently based on a top-down
approach, leaves room for participation down to the level of department heads, which are
responsible for carrying out the planning of their department within the broad guidelines
set by MANCOM.
5.2 Personnel Policies:
The number of officers exceeds the number of clerk, which is a straight contrast to local
banks specially the nationalized commercial banks. Standard Chartered Bank pays great
attention to recruiting high quality staff through proper evaluation and improving their
skills through structured training. Reward and punishment base on strict performance
evaluation and opportunities of promotion both in country and abroad are two important
features of the personnel policy of Standard Chartered Bank.
5.3 Recruiting, Training and Career Progression:

The recruitment process is based on references, advertisements and internships. Entry
point screening is done both by the written and oral test. The medical record of the
potential employee is very important and those suffering from potentially life threatening
and performance deterring diseases are not hired, even if they were otherwise qualified.
The placement of the staff is done in two ways. Either the employee undergoes a
management trainee program with a probation period of nine months and is categorized
as an officer leading to various managerial jobs, or is recruited at a non-management
level as banking assistance or support officer. There is a structured training framework
for all the employees, and a channel for moving people from national to international
positions. International graduate recruitment and personal skill development for entrylevel employees are a part of the human resources development efforts at Standard
Chartered Bank.
5.4 Planning, Organizing, Directing and Controlling:
41
The top down planning approach is mostly followed at Standard Chartered Bank. The top
managers have the authority to decide how they will achieve their goal because SCB
group worldwide decides the goal. The Business Bank mainly does planning and Retail
Bank Division, IT Department provides all the assistance and information that is required
to create and execute long term and short term planning. Planning and IR Department
provides all the assistance and IT and other infrastructure in order to reduce the
paperwork IT has taken a plan to achieve the long tern plan. One branch manager in each
of it is managing SCBs all branches. The performance of each branch is solely dependent
on the branch manager. Management is partly authoritative and participant at the top level
of SCB But every one has some assigned work to do for the day and they cannot deny
this. Sitting arrangement is created in such a way that co-workers can sit close to each
other and have sharing of their work and at the same time can have easy contact with
each department coordinator/ Head. The work environment is very friendly. The room
contains sufficient amount of light and is always cooled by high capacity air conditioners.
42
5.5 Five Values of Standard Chartered Bank
Standard Chartered Bank has five values and these values are key to their success. These
value determine how the employees achieve their goals, the way they work together and
how it feels to be a part of Standard Chartered Bank. In brief these values are:
1. Courageous: Being courageous is about confidently doing whats right. Often the
task may seem insurmountable but with courage and tenacity, the odds can be
overcome. A truly courageous act both inspires and builds character.
2. Responsive: How we response to our customer will influence their belief in our
commitment to them. A proactive response is often unexpected and more effective for
that. It clearly demonstrates our willingness to go beyond the unexpected.
3. International: As a member of global village we view the world from the widest
perspective. We are all global citizens and the world is full of new opportunities and
exciting possibilities. We also deliver world class products and services.
4. Creative: Creativity belongs to those of us who are excited by challenges and
engage them in fresh thinking and an open mind. Creative thinkers are not limited by
convention but allow their minds to soar beyond predictable solutions.
5. Trustworthy: Trust is the foundation of every successful relationship. We trust
because we believe in the sincerity of our promise. Building trust can take forever.
Losing takes only moments.
43
5.6 Chain of Command:
Standard Chartered Bank in Bangladesh follows a hierarchy pattern of command. The
chief Executive Officer (CEO) for the country reports to the Regional Manager, MESA
(Middle East South Asia) in Dubai. All other departmental Heads at the headquarters
report to the CEO. A manager or Senior Manager reports to the divisional heads. The
respective Branch Managers or Branch Sales and Service Managers (BSSM) are
responsible for the performance of their unit. Each branch is organized functionally along
line divisions with some support facilities and the manager assigns tasks to his / her
subordinate personnel and supervises their performance.
Organograms of different division of the bank is given in the next few pages separately.
44
Chain of Command
Chief Executive Officer
(CEO)
Head of Corporate &

Institutional Banking
Head of Consumer
Banking
Head
Head
of
Finance
&Administration
Head of GSAM
of
Human
Head of Global Market
Senior Credit Officer
Resources
Head
of
Banking
Institutional
Chief Operating Officer
Head
of
Legal
and
Compliance
Head
of
Information
Technology
Head of Corporate &

External Affairs
45
Head of Consumer Banking

Head of Consumer Banking
Head of Product Development

& Marketing Services
Manager Service Quality(SQ)
Manager Business Finance
Support Executive
Officer Compliance & Control
Head of Banking
Products
Head of Distribution
&Priority Bank
Head of Cards
Head of Credit &

Collection
Officer
Product
Development
Product Launch
Marketing
Market Intelligence
Secured, Unsecured, Liabilities

Product sales in all channels
Product Marketing &
campaign for all channels
DSE Management
Tele Sales
Product/Fee Pricing
Branches
Phone banking
ATMs
Priority Banking
Relationship Management
Branches SQ
Direct Sales
Product development
Marchant Acquiring
Customer Service
Tele Sales
Credit
Collection
46
Finance and Administration Division

Head of Finance and Administration
Manager Finance Operation
Finance Officer
Manager Business Finance
Head of Administration
Finance Officer Business Support
Senior Admin Officer
Officer
47
Human Resources Division
Head of Human Resources
Head of Human Resources Operation
Officer HR Operation
Officer HR Admin
48
Legal and Compliance Division
Head of Legal & Compliance
Compliance Advisor
CORPORATE AFFAIRS
Officer Audit and Compliance
Head of Corporate Affaires
Officer
Manager Legal Support
49
Treasury Division
Head of Global Market
Head of Sales
Head of Foreign Exchange

Trading
Corporate Dealer
Dealer Money Market
Foreign Exchange Dealer
Head of Money Market

and ALM
50
Information Technology ( I T )Division
Head of I.T
Manager IT Product Support
Product Specialist
Senior Technical Analyst
Manager
Technical Analyst
Manager Communication &

Infrastructure Support
System Security Administration
Product Specialist
System Controller
Shift Leader
51
Corporate and Institutional Banking

Head of Corporate and Institutional Banking
Executive Assistant
Head of Local Corporate

Sr. Relationship Manager
Relationship Manager
Sr. Credit Analyst
Sr. Sales Supporting
Head of Network Banking

Credit Risk Manager
Credit Risk Officer
Head of Cash & Trade

Sr. Business Dev. Manager
Business Dev. Manager
(Trade, Projects, Cash, Trade,
Sales)
Head of Structured Finance

Head of Financial Institutions
Head of Chittagong
Corporate
Sr.
Relationship
Manager
Credit Risk Manager
Credit Risk Officer
Head of Custody and

Clearing Service

Manager --FI, Sales Support
Manager FI, Chittagong
52
Service Delivery
Chief Operating
Officer
Head of Consumer Service Delivery
Head of Corporate Service Delivery
Head of Global Market Service

Delivery
Manager
Manager
Account Service
ATM Cards
Item Processing
Asset Operations and Docs
Security Bonds
Chittagong Service Delivery
Officers
Manager
Trade
Cash
Credit
Documentation
Admin
Officers
Risk Control & Recon

Foreign Exchange
Money Market
Officers
53
The Branch Organogram
BSSM
SA
STM
PFCs
CSM
BSEs
BRM
CSOs
Acronyms:
BSSM = Branch Sales & Service Manager
STM = Sales Team Manager
CSM = Customer Service Manager
BRM = Branch Risk Manager
PFC = Personal Financial Consultant
CSO = Customer Service Officer
PSO = Product Support Officer
SA = Service Ambassador
BSE =Branch Sales Executive
54
Section VI
CONSUMER BANKING SERVICES OF STANDARD CHARTERED BANK
55
6. PRODUCTS OFFERED BY SCB
6.1.1 Products
Personal Banking
Commercial Banking
Trade Service
6.1.2 Personal Banking
A. Deposits
Savings Account
Access Account
Freedom Account
Current Account
VIP Current Account
Fixed Deposit
Foreign Currency Current Account
Graduate Account
Millionaire Scheme
Monthly Savings Scheme
Education Savings Scheme
Non-Resident Foreign Currency Deposit
Resident Foreign Currency Deposit (RFCD)
STD Account
B. Loans
Personal Loan
Auto Loan
Flexi Loan
Mortgage Loan
SME Banking
Cash line
56
6.2. Deposits
Savings Account
Savings account is suitable for:
Individuals, clubs, associations, societies, Trusts and others of similar stature.
Particularly suited for individuals who have regular and fixed sources of income and
fixed expenses. For example: housewives, salaried professionals, businessmen and other selfemployed professionals.
It is essential for anyone who saves and yet does not wish to block his money.
Eligibility to open a Savings Account
A Savings Account can be opened by individuals, associations, trusts, clubs, charities,

societies and other non-trading associations.
A Savings Account cannot be opened by

Partnerships (registered & non-registered), ,Sole proprietorships, Public Limited, Companies
,Private Limited Companies, Foreign Nationals.
Features
Earn Interest
Banking through ATM
Any Branch Banking
24-hour Banking Convenience
State-of-the-art 24-Hour Call Centre
SMS Banking and e-Statements
Regular additional benefits
Third party can be authorized to operate the account
Initial deposit
Could be cash, cheque or transfer from an SCB account.

Initial Deposit should be at least Tk. 200,000.
57
Interest Rate
Interest on Savings Account is paid on the minimum balance of a particular month. Interest is
applied to the account twice a year on June and December. The interest rate in the savings
account is as follows:
Balance Amount
Interest Rate
Balance below 200,000
0.0%
Balance between 200,000-1,000,000
2.75%
Balance Above BDT 1,000,000
3.00%
Tax on interest
There is a 10% tax on interest earned in Savings Account. This tax is deducted at source, meaning
the bank deducts the tax before giving it to the customer.
Fees and Charges
Maintenance Fee
BDT 575.0 (Actual fee BDT 500 +15 %VAT)
Debit Card Annual Fee
Debit Card Replacement BDT 345.0 (Actual fee BDT 300 +15 %VAT)
Fee
Stop payment Instruction BDT 287.5 (Actual fee BDT 250+ 15% VAT)
Fee
Charge for
Cheque
Bouncing
a BDT 1150.0 (Actual fee BDT 1000+ 15% VAT)
Account Closure Charge
Hold Statements
BDT 1,000 per annum per account
If account is closed within 6 BDT 575.0 (Actual fee BDT 500 +15 %VAT)
months of opening
58
Access Account
Access Account is a variant of the Savings Account. Standard Chartered Bank in its continuous
effort to bring more convenience to its customers started this account targeting salaried
employees, students and housewives.
Features
Access is an account that does not give interest on the deposit kept in it
This account is for individuals only
One can put his money in this account and earn interest on the idle funds and also use the funds
when he needs it
This account is for individual only. Organizations cannot open this account
How is Access different from Savings?

Access is different from Savings in the following aspects
There is no cheque book in this account. Therefore no cheque book related facilities are
available here.
There is no minimum balance requirement for this account. Therefore, no relationship fee and
other minimum balance related charges.
Initial Deposit
BDT-20,000 is required to open access account.
Government Excise Duty
There is a Government Excise Duty on the deposit/balance level of the account.
Fees and Charges
BDT 690. (Actual fee BDT 600 +15 %VAT)
Debit Card Replacement Fee
If account is closed within 6 BDT 575. (BDT 500 +15 %VAT)

months of opening:
59
Freedom account
Individuals between 18 to 35 years of age can start FA.
This account is for individual only. Organizations cannot open FA.
Features:
It is a safe yet easily accessible form of saving
Customers earn interest up to 5%
Debit card gives access to cash 24-hours a day
Chequebook provides for secure transactions
Freedom of making unlimited transactions
Freedom not paying fees for the average balance from TK 25,000
Customers can transact anywhere where SCB has a branch or ATM machine
State-of-the-art 24-Hour Call Centre and SMS banking
Initial deposit.
Could be either cash, cheque or transfer from an SCB account.

Initial Deposit should be at least Tk. 26,000.
Interest Rate
Interest on Savings Account is paid on the minimum balance of a particular month. Interest is
applied to the account twice a year on June and December. The interest rate in the savings
account is as follows:
Balance Amount
Balance below
Interest Rate
BDT 25,000
0.0%
Balance between BDT 25,000-50,000
4.00%
Balance between BDT 50,000-100,000
5.00%
Balance Above
3.00%
BDT 1,00,000
60
Tax on interest
There is a 10% tax on interest earned in FA. This tax is deducted at source, meaning the bank
deducts the tax before giving it to the customer.
Fees and Charges
Half Yearly Av. Balance

Fee
Half yearly Above

avg. bal.
25000
Fee
NO fee
1500025000
BDT 500
Below
15000
BDT1000
Fee
Fee
Charge for
Cheque
Bouncing
Hold Statements
months of opening
Sign Up Fee
BDT 600
Counter Transaction Fee
Monthly
Balance
Counter
Fee
Avg. Up
to
25,000
Trxn NO Fee
TK Below
TK
25,000
TK 10 per Trxn
61
Graduate Account /My First Account

Graduate Account is an interest bearing Savings Account for ongoing graduate and post-graduate
university / college students, who are at least 18 years old. The account will have Debit Card but
no chequebook facility.
The funds in the account can be withdrawn via Debit Card or outward remittance restricted to
educational fees / subscription, etc. It is expected that the fund will basically originate from the
parents or legal guardian or part-time job of the university / college students in order to allow
them maintain a bank account with Savings opportunity, and also make them organize their
monthly along with semester expenditures throughout the year. Initial deposit for Graduate
Account is BDT 10,000 per account and it must be in the local currency.
Fey Features
Graduate Account is interest bearing Savings Account
Initial Deposit BDT 10000.
A half-yearly statement frequency will be in place for this product unless requested otherwise.
Minimum balance: The minimum average balance of BDT 10K should be maintained every
month in order to earn interest.
Interest Rate: 2% interest rate per annum will be calculated on daily basis but to be credited half
yearly.
Maximum Debit Card withdrawal limit is BDT 5k per day
Product Documentation
Same Standard Account Opening Procedure will be maintained
Valid Student Identification Card will be required in order to substantiate the current student
status.
Added Value Proposition

Special Discount Facilities & Lifestyle Benefits at selected partner outlets while using Graduate
Account Debit Card.
62
Extra Value Savings Account

EVSA is a high powered savings account targeted to people with a higher disposable income. It
has all the features and benefits of the savings account and a few extra benefits available for
EVSA
Key Features
Maximum ATM withdrawal Limit BDT 40,000 in a single day
Personal Injury Insurance Coverage for 1 year up to BDT 1,000,000
Discount on locker charge
Discounted rate for issuing Pay Orders, Demand Drafts, Travelers Cheques & Foreign
Currency
Reduced rates for Over Draft facility

Interest Matrix on EVSA
Interest is paid on the minimum monthly balance. Interest is applied to the account twice a year
on June and December. The interest rate in the EVSA account is as follows:
Balance between over BDT 200,000-1,000,000
2.75%
Balance above BDT 1,000,000
3.00%
Fees & Charges

Maintenance Fee :
Debit Card Annual Fee :
Debit Card Replacement Fee :
Stop payment Instruction Fee :
BDT 287.5 (Actual fee BDT 250+ 15% VAT)
Charge for Bouncing a Cheque :
Account Closure Charge :
Current Account
63
Current account is an account on which cheques are drawn and to which credits are paid. It is a
non interest bearing a/c, it is also called checking account.
Eligibility to open a CA
This account is appropriate for both organization and person, who expects very frequent
transactions with funds coming in and going out daily.
Current account is suitable for:
Individuals: Resident Bangladeshis, Non-resident Bangladeshis, Foreign Nationals residing in
Bangladesh.
Organizations: Sole Proprietorships, Registered Partnerships, Unregistered Partnerships, Public
Limited Companies, Private Limited Companies, Clubs, Associations, Societies, Charities,
Nationalized Organizations, Autonomous Bodies, NGOs.
Essentially, it is for anyone who engages in frequent transactions
Features
Deposited amount is readily available for withdrawal
Free withdrawal of money from any branch in the country
Customers can get Over Draft facilities in these accounts.
Debit card gives customers access to cash 24-hours a day.
Standing Instruction can take care of routine payments
Stop Payment saves you from loss due to theft of cheque
Third party can be authorized to operate the account for customer benefit
Its non-interest bearing deposit
Difference between Savings & Current account
Current Account
Savings Account
Any organization or person(s) can open a Only person(s) and not-for-profit

current account.
organizations can open savings account
Current account gives no interest.
No prior Notice is required
withdrawals from Current Account.
Savings account gives interest

for Savings Accounts require prior Notice for
withdrawal, if interest is not to be forfeited.
Customers can get Overdraft facility in

Savings account has no Overdraft facility.
current account.
Interest Matrix
Current Account is a non-interest bearing account. There is no interest in this account.
64
Tax on Current Account

There are no taxes on current account. Because current account does not pay any interest. But an
account holder of a current account needs to pay the Govt. Excise & Duty
Fees and Charges
Account
Fee:
Maintenance
Debit Card Annual Fee :
BDT 575 (Actual fee BDT 500 +15 %VAT)

BDT 690 (Actual
(for individuals)
fee
BDT
600
+15
%VAT)
Debit Card Replacement BDT 345. (Actual

Fee:
(for individuals)
fee
BDT
300
+15
%VAT)
Transaction Charges:
BDT 11.50 ( to be charged / consolidated on Monthly Basis

if average balance falls below Minimum Average Balance
of BDT 50,000/= any month ).
Stop payment Instruction

Fee:
Charge for Bouncing a
BDT 1150 (Actual fee BDT 1000+ 15% VAT)
Cheque:
Account Closure Charge: BDT 575 (Actual fee BDT 500 +15%VAT)
If account is closed within
BDT 575 (Actual fee Tk. 500+ 15% VAT)
6 months of opening:
VIP Current Account (VIPCA)
65
The VIPCA is the mechanism to earn interest on idle funds for customers that cannot commit
funds for longer periods of time in FD/ Term deposits. This account is linked with a STD account
and customer will earn interest on a daily basis.
VIPCA is suitable for:
High
net
worth
individuals
who
need
to
transact
very
frequently.
Eligibility to open a VIPCA

A VIPCA can be opened by individuals, associations, trusts, clubs, charities, societies and other
non-trading associations.
Features:
Customers earn interest on daily available balance
24 hour ATM network & Call Center
Online & Evening banking is available
Account statement provides a systematic record of savings
Full waivers on online intercity transaction
Cash line overdraft facility is available
Higher debit card limit (50,000 per day)
Daily POS limit BDT 50000
Free issuance of Pay order & Demand draft
Initial deposit.
Could be either cash, cheque or transfer from an SCB account.
Initial Deposit should be at least BDT 250,000.
Interest Matrix
66
The interest rate in the VIPCA is as follows:
Balance Amount
Interest Rate
Balance below 250,000
0.0%
Balance above 250,000
2-3%
Interest accrued daily, applied half yearly

Fees and Charges
Half Yearly Av. Balance
Fee
Half yearly Above 100,000

avg. bal.
Fee
NO fee
Below 100,000
BDT 500
Fee
Fee
Charge for
Cheque
Bouncing
Hold Statements
months of opening
Counter Transaction Fee
Monthly
Balance
Counter
Fee
Avg. Above
100,000
Trxn NO Fee
TK Below
TK
100,000
TK 10 per Trxn
Fixed Deposit
67
Fixed Deposit Account is the savings vehicle where customers keep their money :
A fixed amount
For a Fixed of Period
For a fixed rate of interest.
This rate of interest is usually higher than the rate offered in Savings Accounts.
Fixed Deposit is more commonly known as FD.
For whom is Fixed Deposit (FD) Suitable
Any person or organization that is entitled to receiving interest in Bangladesh can open a
Fixed Deposit account.
FD can also be opened in the name of minors.
Foreign nationals cannot open FD accounts in Bangladesh.
Features
Customers earn a higher rate of interest

Guaranteed earnings at the rate of interest agreed for the length of the term irrespective
of market movements
Funds deposited are totally secured
Customer is able to save for specific goals
Funds can be withdrawn in an emergency- by pre-mature encashment.
The FD is automatically renewed at the end of the designated period
Overdraft Loan facilities is obtainable against security of FD without losing the interest
earning & the FD.
At maturity the FD with interest may be transferred to customers a/c at any other
branch, if required
Minimum amount
The minimum amount required to open an FD is BDT 100,000
There is no maximum amount for FD.
Interest rate on the FD is dependent on the time and the amount of the FD.
The periods for FD

FD can be kept for 1 month, 3 months, 6 months, 12 months/1year, 2 years & above.
68
Interest Matrix
Interest Rates For Individual Customer
Period
Deposit
between Deposit Above
Deposit 2,000,000
BDT
2,000,000
and BDT
and below
10,000,000
10,000,000
1 month
3.75 %
4.25 %
4.25 %
3 months
4.75 %
4.95 %
5.05 %
6 months
5.15 %
5.25 %
5.50 %
1 year
5.50 %
5.75 %
6.00 %
2 years
5.50 %
5.75 %
6.25 %
3 years
6.00 %
6.10 %
6.25 %
4 years
6.20 %
6.35 %
6.50 %
5 years
6.35 %
6.50 %
6.55 %
Early Encashment of FD
If the customer needs the money before the FD period is over, then the customer can withdraw
the money by encasing the FD
In that case, if the money was in the FD for less than 3 months then no interest will be credited
to the customer
If the fund was in the FD for more than 3 months but less than the FD period, then the customer
will be credited Interest in Savings Account rates.
Tax on the interest
There is a 10% Tax on the interest of FD as per Bangladesh Bank's policy.
69
Monthly Saving Schemes

There are currently 3 monthly savings schemes. They are:
Marriage savings scheme
Education savings scheme
Rainy day savings scheme
Savings Schemes process

Customers will buy units of these schemes. First they will make an initial deposit after that they
will deposit a fixed sum every month based on the units they buy. You can say that they will
deposit a monthly installment. Interest on all deposits will be calculated daily and will be added
to the deposit at the end of the month. The scheme is for a fixed period. At the end of the period
customers will get a fixed amount back.
Eligibility to open a Monthly Savings Scheme

Only existing customers can open Monthly Savings Schemes (MSS).
In order to open a MSS a customer has to fill -in an MSS Opening Form.
Opening Deposit
The opening deposit of 1 unit is BDT 10,000. This is the same for all the schemes.
Sign-up Fee
The sign-up fee is Tk. 250 per unit with a minimum of BDT 500 and a maximum of BDT 10,000.
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Tenors of the different MSS
The tenors of the schemes are as follows:

Scheme
Tenor
Marriage
3 years, 5 years
Education
3 years, 10 years, 15years.
Rainy Day
3 years, 10 years
Schemes
Marriage
Scheme
Education
Scheme
Savings
Savings
Tenor
Initial
Deposit
Monthly
Deposit
Total
Payment
Maturity
value
3 yrs
10,000
1,000
46,000
52,819
5 yrs
10,000
1,000
70,000
86,934
3 yrs
10,000
1,000
46,000
52,819
10 yrs
15 yrs
10,000
10,000
1,000
1,000
1,30,000
1,90,000
1,97,274
3,55,650
10,000
1,000
46,000
52,819
10,000
1,000
1,30,000
1,97,274
Rainy Day Savings

3 yrs
Scheme
10 yrs
Note: These are indicative figures. Tax is payable as per Govt. rules.
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Millionaire Scheme
The Millionaire Scheme is a deposit scheme targeted for people with high disposable income and
with a propensity to save that income.
The millionaire scheme promises the customer that the balance of their account will be a million
Taka at the end of 5 years 9 months and after 10 years they will receive more than BDT 1,900,000
Features:
The sign-up fee is BDT 2,500 per unit.

Monthly installment for 1 unit = BDT 10,000.
If a customer misses an installment, then he is charged a penal interest rate 3% higher
than the interest rate of the scheme account.
Failure to make three consecutive installments will result in immediate closure and a
penal fee @ BDT 5000 will be charged.
In case of forced closure (non-payment of three consecutive installments) before 1 year, a
penal charge @ BDT 7500 will be charged.
If any customer desires to discontinue the scheme prior to maturity, a penal fee @ BDT
5000 will be deducted from his account.
Profit Table: Millionaire Scheme
Monthly
Savings
Total CustomerProfit (Interest

Maturity Value
Contribution
from bank)
5 years 9
100,000
months
10,000
790,000
220,528
1,010,528
10 years
10,000
1,300,000
672,737
1,972,737
Tenor
Initial
Deposit
100,000
Note: These are indicative figures. Tax is payable as per Govt. rules.
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Resident Foreign Currency Deposit (RFCD) Account

RFCD is an interest bearing foreign currency account. The funds in this account are kept as time
deposit.
Eligibility to open a RFCD Account
People who are residents of Bangladesh can open this account upon their return from abroad.
Since it is an interest bearing account, then non-Bangladeshis cannot open this account.
Note: This account can not be opened in joint name
Opening balance for an RFCD Account
The Minimum Opening Balance is USD 1000 or GBP 500 equivalent currency.
Key Features
Interest bearing foreign currency account
Multi-currency deposit facility: USD, EUR, GBP
International Credit Card issuance facility against RFCD account
The transactional benefits of RFCD Account
Unutilized Foreign Currency endorsed for traveling can be deposited into this account
Balances in these accounts can be freely transferred abroad
Funds in these accounts can be used for endorsement of FCY, Issuing T/C for travel purposes
International Credit Cards can be issued against the balances of RFCD
The restrictions for operating a RFCD account
Funds brought in from travel abroad can only be credited to these accounts.
Export proceeds and funds from business deals generating from within Bangladesh cannot be
put into these accounts.
Deposits over USD 5000 or equivalent Foreign Currency have to have Form FMJ when
crediting to the account.
When Foreign exchanges are credited into these accounts, the depositor must submit a
declaration saying when he returned from abroad and that the fund was not a result of any
business deal generated in Bangladesh or from export proceeds.
Note: If the depositors passport and declaration are not in order then the bank can refuse credit
the account.
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Non-Resident Foreign Currency Deposit (NFCD)

A short-term foreign currency deposit account suitable for Bangladeshis living abroad, offering
competitive interest rates available in both local and international markets.
Foreign Currency Current Account
Applicable to Bangladeshis working abroad, it can be opened in USD, GBP and Yen
without restriction on transaction frequency. It can be operated through nominees in
absence of the accountholder. Fund remains in foreign currency and is freely remittable.
STD Account
Standard chartered Call account offers you the convenient way to save for the future, as
well as enjoying easy access to your money.
Earn Interest on Daily Basis
Affordable Minimum Balance
Any Branch Banking
24-hour Banking Convenience
SMS Banking and e-Statements
State-of-the-art 24-Hour Call Centre
Debit Card
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6.3. Asset Product:

Asset Product
Credit Card
Loan
Conventional
Loan
Islamic Loan
Islamic Personal
Finance
Finance
Mortgage
Flexi Loan
Business
Installment
Loan
Cash Line
Personal Loan
Islamic Auto
Finance
Auto loan
Used Car
Purchase Loan
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SCB first introduced consumer finance in Bangladesh and till today,

they are the market leader. It has verities in financing its retail
customers with innovative products. The earnings from interest and
service charges contribute to 32.8% overall income generated from
the consumer finance division.
6.3.1 Conventional Loan:

6.3.1.1 Personal Loans:
6.3.1.1.i. Efficient:
Employee of Standard Chartered work hard to make its name synonymous with quality
money management which means that they are in a position to offer customers a wide
range of banking products, designed to most of their needs.
6.3.1.1.ii. Flexible:
Personal Loans of SCB are the most flexible of their kind in the market. With minimum
documentation and security requirements, (lie product offers you the choice of a loan for
any of the following purposes:
Purchase of miscellaneous household appliances
Purchase of personal computers
Purchase of refrigerators
Purchase of audio-video equipment
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Purchase of furniture
Hospitalization or other emergency medical needs
House renovation
Purchase of office equipment/ accessories
Office renovation
Marriages in the family
Advance rent payments
Overseas trips
Education/ professional training
6.3.1.1.iii. Helpful:
No cash security required .The loan amount may range from BDT 60.000 to BDT
10.00,000 and the best news is that no cash collateral is required to obtain the loan.
This means customers dont have to submit your fixed deposits to the Bank for the
period of the loan as security. Some documents from employer or the guarantee of a
reputed person (as defined by the Bank) will suffice.
6.3.1.1.iv. Convenient:
Monthly installments can be tailored to meet customer convenience and budget.
Customers can choose to repay the loan in 12 to 60 equal monthly installments
depending on the loan amount.
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38.07%
21.17%
100.00%
21.68%
10.88%8.19%
Segment
Salary A/C with US
Salary A/C With Other Bank
Salary In Cash
SCB A/C Holder
Other Bank A/C Holder
Total
Figure 10: Segment Wise Portfolio

6.3.1.2.Business Installment Loan:

6.3.1.2.i. Target Market:
Small and Medium Enterprises in any sector other than the restrictions and
exclusions outlined in the Product Development Document, and qualified by
customer selection criteria.
Professionals, for example, doctors, lawyers, teachers, etc.
6.3.1.2.ii. Customer Eligibility:
Age of business has to be 3 years or more.
Business must have own / rented operating premises for alt least 2 years.
Annual sales turnover has to be between BDT 60 lakh and BDT 60 crore.
Consequently, annual pre-tax income has to be FBT 6 lakh.
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Any facility would require a clean CIB report of the customer.
BIL is a partially secured loan facility given to any business concern for any legitimate
purpose. The loan can be either partially secured or fully secured. The security for the
loan must be in a readily encashable form. It is one of the oldest forms of banking
products, where the bank lends the customer a principal fund and the customer pays off
the loan (Principal + Interest) periodically (i.e. monthly).
6.3.1.2.iii. Products Facility:

BIL can be offered to the customers for the following purposes:
Long term working capital finance
Asset finance (plant & machinery)
Business expansion
Office premises renovation
Other similar business needs
6.3.1.2.iv: Facility Amount and Tenor:

Minimum Loan:
Maximum Loan:
BDT 12 lakh
BDT 50 lakh
The customer can repay the loan in the following maximum tenors depending on the
amount.
12 lakh 20 lakh
>20 lakh 50 lakh
Upto 3 years
Upto 5 years
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6.3.1.3.Flexi Loan:
Flexi Loan from Standard Chartered is a loan facility that has been custom-designed to fit
customers needs. It lets them enjoy a higher standard of living while provide the
convenience of repaying the loan over a maximum period of 60 months. The loan amount
varies between a minimum of BDT100, 000 and a maximum of BDT 1,200,000.
To apply for a Flexi Loan all you need is to be:
A Bangladeshi citizen
23 years of age or more
A salaried or self-employed individual earning BDT 12.000 or more per month
Maintaining a Savings Account or a Current Account with Standard Chartered

Bank for at least six months or a minimum of one year with any other bank.
A resident of Dhaka. Narayanganj, Chittagong, Sylhet, Bogra or Khulna.
6.3.1.3.i. Features:
6.3.1.3.i.a. Flexible:
Flexi Loan offers customers complete flexibility in structuring their loan. It lets them
choose their loan tenure, percentage of cash security, loan amount and even the interest
rate on their facility. Flexi Loan also provides customers financing for just about any
personal need. For instance:
Renovate house.
Meet the expenses of sudden medical emergency.
Take your family abroad for a holiday.
Arrange for a marriage in the family.
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6.3.1.3.i.b. Flexi Security:

Flexi Loan offers customers the option of choosing the amount of security that they wish
to provide to the bank as collateral for their loan. The security amount may range from
30% to 100% of the amount.
6.3.1.3.i.c. Flexi Repayment:

Flexi Loan allows customers to pay back their loan in monthly installments. The number
of installments varies according to the amount of the loan.
Loans from BDT 100,000 to BDT 499.000 can be repaid in 12,24 or 36 monthly
installments.
Loans from BDT500.000 to loss than BDT 1,000.000 can be repaid in a

maximum of 48 monthly installments.
Loans greater than BDT 1.000.000 can be repaid in a maximum of 60 monthly

installments.
Monthly payments will be automatically deducted from customers Savings or Current

account with Standard Chartered Bank.
6.3.1.3.i.d. Flexi Cost:
Flexi Loan offers customers some of the most competitive - and flexible - interest rates
available in the market. The applicable interest rates on loan facility are:
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13% per annum when 100% or more secured by readily encashable securities
acceptable to the Bank.
14% per annum when 50% to 99% secured by readily encashable securities
acceptable to the Bank.
15% per annum when 30% to 49% secured by readily encashable securities
acceptable to the Bank
6.3.1.4.Mortgage:
Everyone has dreams of a sweet home. And these dreams come true with a little effort.
Standard Chartered is ready to help in this effort so that customer can realize their
dreams whether it be customers first home or renovating/ refinancing customers
existing home or even a second home. To realize customers dream home, Standard
Chartered introducing Mortgage- the best home loan.
Standard Chartered Mortgage offers customer following things:
Competitive interest rate with no hidden lost. Interest calculated on

a monthly reducing balance, which enables customers to save
money from installment amount.
Simple and easy documentation.
No personal guarantee from third party and no additional cash

security.
Flexible loan amount.
Refinancing.
Financing includes registration cost.
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Partial or full prepayment options.
Loan approval within the shortest possible time.
Target Customers:
Profession: Applicant should have at least three years of service/

professional/ business track records.
Minimum age: 30 years.
Maximum age: Retirement age or 60 years less loan term,

whichever is earlier.
Proposed Property: Any leasehold residential property including

purchase of second hand property.
Flexible Loan Amount:
Maximum loan: BDT 7,500,000
Minimum loan: BDT 1,000,000
Maximum 75% of the property value (including registration cost).
Easy Terms & Repayment Option:
Maximum loan term up to 15 years.
Repayment: Loan will be repaid by equated monthly installment

(EMI) and the installment is calculated on monthly reducing
method with no additional hidden interest or charges.
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Convenient Security:
Registered mortgage of the property or any other equivalent

property in favour of Standard Chartered Bank.
6.3.1.5. Cash Line:

Cash Line has the right solution to customers problem. It lets customer manage his
finances the way he like it, offering him the best of both:
Ready access to cash
High return on long term investment
6.3.1.5. i. Features:
6.3.1.5. i.a. Convenient:
Cash Line is a secured credit facility against customers fixed deposits, ICB Unit
Certificates or Savings Certificates (Sanchay Patras). Customers can borrow up to 90% of
their security value and enjoy the benefits of readily available funds even as their
investment continues to earn interest for them.
6.3.1.5. i.b. Flexibility:

Customers have the flexibility of structuring their repayments to requirements. Options
on repayment of their loans are described below:
90% of security value will be provided to customer as loan and credited to his
deposit account. He can pay back the entire loan in equal monthly installments of
12, 24, 36, 48 or 60 months. These installments will include both interest and
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principal and they will be automatically debited for his deposit account each
month for the term of the loan.
90% of customers security value will be provided to him as loan. He will only
be expected to pay back interest applied on a quarterly basis on his account: the
principal amount of the loan can be paid back at the end of the loan period.
An overdraft limit of 90% of his security value will be set in current account. He
will have the option of withdrawing as much money as require within the limit,
anytime in need of funds. Interest will be charged on the amount of money he
actually draw, and only for the period in which he utilize it. He is allowed to
repay the withdrawn amount, either partially or in full, at any time within the
time of the facility.
6.3.1.5.i.c. Affordable:
Cash line facilities are provided on very attractive interest terms. The interest customers
pay on his overdraft/loan facility under Cash Line is one of the lowest in the market.
6.3.1.6.Auto Loan:
Standard Chartered offers customers the option of buying brand new car, reconditioned
car or used car. Auto Loan offers complete flexibility in structuring customers. Customers
can choose their loan tenure, cash security requirement, loan amount and even the interest
rate on their facility. Auto loan also offers customers an option of early settlement or
partial payment of their loan if the need arises. There is no requirement to provide
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personal guarantee or cash security to qualify for an auto loan. If customers choose to
provide 30% or more of the loan amount as cash security they will enjoy a higher loan
amount and a discounted interest rate. Auto Loan is designed to make life easier for
customers. SC offers customers easy repayment options and the freedom to choose their
repayment period from 1 year to 5 years depending on car.
6.3.1.7.Used Car Purchase Loan:

Standard Chartered's Used Car Purchase Loan makes it easier than ever to buy the car
customers have always wanted.
6.3.1.7.i.a. Easy conditions:

A real different proposition can bring change in life. To apply for an Auto Loan to buy a
used car, customers need is to be:
A Bangladeshi citizen between 23 to 60 years of age
A salaried or self-employed person earning a minimum of BDT 25,000 per month
Maintaining a Savings or Current Account with Standard Chartered Bank for at
least six months or with any scheduled bank in Bangladesh for at least a year
6.3.1.7.i.b. Unique opportunity:
Standard Chartered Bank has launched Used Car Purchase Loan. Under this scheme a
registered car, which has changed ownership for a maximum of two times since its import
to Bangladesh can be financed. Presently Standard Chartered are financing for Toyota car
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only with the condition that the age of the car at the end of loan period must not exceed
10 years. For instance, a 1996 model car being financed in 2004 will get a maximum
repayment period of 2 years. A reputed inspection company will do a detailed technical
inspection and market evaluation of the car. With Used Car Purchase Loan, customers
can have a maximum loan of BDT 1,000,000.
6.3.1.7.i.c Affordable:
Used car purchase loan has easy repayment options. Such auto Loan is designed to make
life easier for customers. SCB offers customers easy repayment options and the freedom
to choose their repayment period - from 1 year to 3 years depending on your car.
Customers also have the option of pre-paying (paying off the loan earlier than scheduled)
their loan after a minimum of 12 months of loan disbursement. Even partial prepayment
is also allowed.
6.3.2. Islamic Loan:

6.3.2.1.Islamic Personal Finance:
Standard Chartered is introducing Islamic Personal Finance in Bangladesh for purchase
of consumers durables with the convenience and flexibility to suit their needs. Islamic
Personal Finance is a Shariah Compliant financing opportunity. It enables customers to
finance durables and services in a Shariah Compliant manner & pay the bank in deferred
equal monthly installments.
87
6.3.2.1.i.a. Compliant with Shariah:
SCB has an international team of professionals with Islamic financial expertise dedicated
to developing Shariah approved financial solutions for the SCB Group. Islamic Personal
Finance has also been developed in consultation with & approved by the SCB Islamic
Shariah Supervisory Committee. The process of product development & Shariah review
ensures that SCBs Shariah compliant Products are free of interest & with the guidelines
for commerce, finance & investment that are prescribed by the Shariah (Islamic Law).
6.3.2.1.i.b. Islamic Personal Finance under Murabaha mode:
Islamic Personal Finance is designed according to the rules of Murabaha financing, an
Islamic financial tool, which allows party A to purchase assets/goods from party B, pay
for the goods in deferred payments. The condition is that party A should own the goods at
the time of sale. The price of the assets/goods should be fixed at the time of sale & should
not change subsequently.
Customers can purchase durables & services from SCB at a fixed price. The customer can
pay for the price of the durables & services in equal monthly installments. SCB will first
purchase & services itself & then sell it to customers at a price, which includes a profit.
6.3.2.1.i.c. Flexible, helpful & convenient:
88
SCBs Shariah Compliant Personal Finance is the most flexible of its kind in the market.
With minimum documentation & security requirements, the product offers customer the
choice of finance for any of the following purposes:
Purchase of miscellaneous household appliances
Purchase of personal computer
Purchase of refrigerator
Purchase of audio-video equipment
Purchase of furniture
Hospitalization or other medical need (actual payment to be made directly

to the hospital)
House innovation
Marriage in family (actual purchase of goods)
Advance rent payments (actual payment to be made directly to the

landlord)
Overseas trips (actual purchase of packages)
Education / professional training (actual payment to be made directly to

the institution)
6.3.2.1.i.d. No cash security required:

The amount of the Islamic Personal Finance may range from BDT 60,000 to BDT
1,000,000. Moreover, there is no cash collateral requirement to obtain this finance. It
means there is no requirement for submitting fixed deposit to Bank as security. Few
89
documents from employer or guarantee from a reputed person (as defined by the bank)
would suffice. Tailored repayment period at customers monthly installments can be
tailored to meet customers convenience & budget. Customer can choose to pay 12 to 60
equal monthly installments depending on the finance amount.
6.3.2.2. Islamic Auto Finance:

The Shariah Supervisory Committee (Committee) has reviewed the following
agreements (Auto Finance Agreements) relating to the SCBs Islamic Auto Finance:
1. Diminishing Musharaka Agreement
2. Undertaking to Purchase
The idea behind the Auto Finance Program is to facilitate Muslims to have access to auto
financing facilities designed in accordance with the principles of Shariah.
The product has been structured in the following manner:1. The bank will enter in to a joint participation arrangement to invest in the vehicle
on the basis of Diminishing Musharaka.
2. The bank will provide the larger share of the purchase price of the vehicle.
3. The bank will rent out / allow usage of its share of the vehicle to the customer.
The customer will agree to make monthly payments for the use of the vehicle.
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4. The customers will also make regular scheduled payments in the participation to
increase their equity in the vehicle. Thus with each payment the ownership of the
customers in the partnership grows increasing their share of the vehicle.
5. Once the customer has paid in full, the customer will have free and clear title to
the vehicle.
Under SCBs Islamic Auto Finance product, customers do not repay an interest-bearing
loan. Instead, customer & SCB jointly participate in the vehicle ownership. Customers
enter into a Diminishing Musharaka Agreement that establishes joint participation of
SCB & concerned customer & the agreement spells out each partys right and
responsibilities. As a part of the contract, customers agree to purchase SCBs share in the
vehicle through affordable monthly payments over a specific period. His incremental
acquisition of SCB share will ultimately lead to full ownership of the house by him. His
monthly payments will also include a rent for his exclusive enjoyment and use of the
whole vehicle. In total, these payments will constitute a fixed monthly amount that is
competitive with what he would pay under a conventional auto loan.
A conventional auto loan is a debt whereby the borrower is bound to pay interest on the
money owed, while the Islamic Auto Finance is a shared participation in the vehicle. This
program is not a loan.
The SCB Islamic Shariah Advisory Committee that is an independent committee of

qualified scholars of international repute approves this product. SCB has an international
91
team of professionals with Islamic financial expertise dedicated to developing shariah
approval financial solutions for the SCB group.
6.4. STANDARD CHARTERED CREDIT CARDS
A Credit Card is a piece of plastic used for purchasing goods & services and for
obtaining cash disbursements on credit terms.
It is an unsecured credit, i.e. credit without collateral or security.

Each cardholder is assigned a revolving credit limit by the issuing financial institution.
Cardholders can purchase goods/services upto the credit limit and can re-use the credit
facility upon repayment .
The cardholder is billed periodically (usually monthly) for repayment of the credit
extended. The transactions during the period are summarized in the bill.
Credit Card allows partial payments for purchases, but charges interest on the amount
owed. Interest rates are traditionally higher than those charged on consumer loans.
Cardholders can pay outstanding in full to avoid interest payments.
Credit card is a safer substitute to cash and is the major mode of payment worldwide.
MasterCard Platinum
MasterCard
Gold
MasterCard Silver
Visa Classic (Mini)
Cricket Card
Visa Gold (USD)
92
KEY BENEFITS OF STANDARD CHARTERED CREDIT CARD
Wide Acceptance
Standard Chartered Bank (SCB) issues both VISA and MasterCard Credit Cards., the two
renowned Credit Card brands. Standard Chartered Taka Credit cards are accepted at more
than 5000 outlets across Bangladesh.
Easy Repayment Facility
Standard Chartered Credit Cardholders have the flexibility to make payment of as little as
5% of the outstanding balance and carry forward the rest of the balance.
Supplementary Card
Standard chartered Credit Cardholder can enjoy the convenience of having
supplementary cards for cardholders spouse, children over 18 years of age or any family
members or friends. The primary cardholder can set a spending limit for the
supplementary card which limits the maximum amount that the supplementary cardholder
can spend in one billing cycle.
Cash Advance Facility
SCB Credit Cardholders can get instant cash advance up to 50% of card limit from
any of the SCB ATMs, thus having access to cash 24 hours a day.
All Accident Insurance coverage
SCB Taka (both primary & supplementary) Credit Cardholders are automatically enrolled
into All Accident Insurance Coverage. Silver cardholder are insured for BDT 100,000/and Gold Cardholders are Covered for BDT 500,000.
SafetyNet Insurance Scheme
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This is a unique offer of SCB Credit Card. In case of death or Total Permanent Disability
(PTD) of the primary cardholder, the total outstanding balance on the card is waived by
the bank. All cardholders are automatically enrolled into the program and are charged a
nominal fee of 0.35% on their monthly balance for availing this facility.
InstaBuys
This exclusive feature allows SCB Taka Credit Cardholders to enjoy installment loan
facility on their Credit Card at an interest rate of 16.95%. Under this plan, Cardholders
can transfer any purchase greater than BDT 3000 into installment loan and repay in Equal
Monthly Installments (EMI). Cardholders have the flexibility to pay-off in 6, 12, 18, 24,
30 or 36 Monthly installments. Moreover, special promotions are run with specific
merchants where customers can avail InstaBuys facility at 0% interest.
Rewards Program
Under this plan, SCB Taka cardholders are rewarded for using their cards at merchant
outlets. For every 50 Taka spent, cardholders earn 1 treasure point which keeps
accumulating as long as the card relationship is continued.
Auto Bills pay
This exclusive feature allows SCB Credit Cardholders to pay their monthly utility bills
through Credit Card by a standing instruction.
SMS Banking Facility
This feature provides cardholders an easy 24-hour direct access to their Credit Card
balance information through their GrameenPhone & Citycell mobile.
E-Statements
This is a secure and prompt way to receive Credit Cards monthly statement through email address instead of receiving a paper statement.
Discounts & Privileges:
94
Standard Chartered Credit Cardholders can avail a host of exclusive discount offers in
various restaurants throughout the year.
PRODUCT RANGE OF
STANDARD CHARTERED CREDIT CARD
Local Card
Visa Silver
Visa Mini
MasterCard Cricket
MasterCard Silver
MasterCard Gold
MasterCard Platinum
International Card
Visa Silver
Visa Gold
PRODUCT DIFFERENCIATION
Gold Card, Silver Card, Cricket Card, & Platinum card
Card type
Silver
Cricket
Gold
Platinum
200,000/-
Eligibility
Criteria
14,000/-
14,000/-
50,000/-
10,000/-
10,000/-
100,000/-
Minimum
Required
Income
Credit
Range
Limit
Min. Credit Limit

Max. Credit limit
400,000/90,000/90,000/-
400,000/-
800,000/-
Finance Charges
95
Finance Charge is calculated as per the Daily Average Balance Method @ 30% per
annum. Interest rates in Staff Cards is 18% per annum.
Retail Purchases accrue interest if the current balance of a statement is not paid in
full by the payment due date.
Cash Advances accrue interest from the transaction date till repayment in full. As
such interest from statement date till repayment date is charged on the next
statement.
In Revolving Accounts (accounts with partial payments), finance charges accrues
from the transaction date of retail purchases.
No Finance charges accrue if cardholder settles the outstanding balance in full by
the payment due date (except for cash advances).
REASONS FOR BLOCKING CARDS
Credit cards can be automatically blocked for the following reasons

If cardholder does not make payment for two consecutive months
If card- account goes over-limit
If cardholder is issued a replacement card for any reason
Sometimes cards are blocked manually for the following reasons

If card is lost/ stolen
If we suspect any fraudulent activities
If we suspect potential credit loss.
LIMIT ENHANCEMENT
Cardholders can request for limit enhancement in writing & a Card must fulfill the
following criteria for the limit to be enhanced:
Card account at least 1 year old

Credit Limit Utilization at least 30%+ of the approved limit
Card account cannot be in 30 DPD delinquency in last 12 months
Average Payment should be between 5% - 90% in last 3 months
No limit increase in last 12 months
Debt Burden Ratio of the customer should be <=50%
96
Cards Application Flow

Chart
Application
Application
Source
Source
Applicant
Applicant
Card
Card
Printed
Printed
Cards
Cards
Ops
Ops
Declined
Applications
Stored
Cards
Cards
Ops
Ops
CCU
CCU
Approved/
Approved/
Rejected/
Rejected/
Sent
Sent Back
Back
Cards
Cards
Ops
Ops
CPV
CPV
Checked
Checked
Business
Business ,,
Residence
Residence
Cards
Cards
Ops
Ops
CCU
CCU
A
P
P
R
O
V
E
D
CPV Report Attached
CPV
CPV
Agent
Agent
Applications
Figure: Credit Cards Application Flow Chart
6.5 CRICKET CARD
97
Cricket Card is a MasterCard Credit Card (Taka card) issued by Standard Chartered Bank,
offering a winning combination of value packed features and benefits.
In addition to regular benefits of Standard Chartered Credit Card, Cricket Card also offers
Discounts at Sports Shops: Cricket Cardholders can avail exclusive discounts at major
Sports Stores in Bangladesh.
Double Reward Point:
Whenever Bangladesh wins a Test or an ODI, Cricket
Cardholders will get double reward points on the purchases made in next 15 days to
celebrate the victory of our national team.
Contribution to Development of Cricket in Bangladesh:
For every Taka spend by the cardholders SCB will donate a percentage of that amount to the a
Cricket Development Fund to patronize the development of cricket in Bangladesh.
FEES & CHARGES
FEES & CHARGES.CONT.
6.6. Gift Card
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Key features
A Convenient Alternative to traditional gift giving
Multiple card designs appropriate for any occasion
Minimum value is Tk. 1000/- and Maximum is Tk.100,000/-
Can be used to withdraw money from the ATM.
Can be used at variety of outlets that accepts VISA card ONLINE.
Multiple Designs appropriate for any occasion
Appreciation
Wedding/Anniversary
Any Occasion
Birthdays
A unique gift for loved ones
Anyone above 21 can purchase a Gift Card
Purchaser can add a Personalized Message on the card.
Safer than cash as it can be replaced if lost/stolen.
Exclusive Discounts at Leading Merchant Outlets
Can be used multiple times until spending value is exhausted.
A Gift Card remains valid for 18 months
Type of Gift Cards

Instant Issue
99
o
Instant Over-the-Counter Delivery of Gift Card and PIN upon payment

of desired value and fee.
Cards will have a generic message
Personalized
o
Gift Recipients Name will be printed on the Card
Personalized message can be added
Card & PIN will be delivered in 5 working days
Product Type
Acceptance mark
Usage
Currency
BIN
Minimum Deposit
Maximum Deposit
Documentation
Visa Classic Prepaid

Visa Flag (Unembossed)
POS & ATMs
Bangladeshi Taka
4214 52
Tk. 1000/Tk. 100,000/Application Form KYC- If Deposit >Tk. 20K
Fees & Charges

Issuing Fee
Value Range
Fee Amount
Tk. 1000- Tk.5000
Tk. 300/Tk. 5001 ? Tk. 20,000
Tk. 500/Tk. 20,0001- Tk. 50,000
Tk. 800/Tk. 50,0001- Tk. 100,000
Tk. 1000/Monthly Service Fee
Tk. 60/Card/PIN Replacement Fee
Tk. 230/Pre-closure Fee
Tk. 230/Pay-order Issuance Fee
Tk. 230/Cash withdrawal Fee
2% or Tk. 50/- (whichever is higher)
Note: All fees are subject to 15% VAT
6.7 Prepaid US Dollar Visa Travel Card

KEY FEATURES
100
A Prepaid Visa Card issued by Standard Chartered Bank against Travel Quota
entitlement
Minimum value is US$ 100 and Maximum is US$ 1,000 for SAARC (&
Myanmar) countries and US$ 3,000 for Non-SAARC countries
Can be used to withdraw money at over 850,000 Visa ATMs worldwide.
Can be used at over 13 million outlets across the globe that accepts VISA.
Anyone above 18 can purchase Travel Card.
No need to maintain account/card with SCB
Safer than Cash and TC as it can be replaced if lost/stolen.
Can be used multiple times until spending value is exhausted.
No Air-ticket / Visa required for getting a Travel Card
Customer must be a Bangladeshi National and at least 18 years of age holding a
valid Bangladeshi Passport. ( to be evidenced from passport)

Product Specifications
Product Type
Acceptance mark
Usage
Currency
BIN
Minimum Deposit
Maximum Deposit
Documentation
Visa Classic Prepaid

Visa Flag (Unembossed)
POS & ATMs outside Bangladesh
US Dollar
4214 51
Equivalent to US$ 100
Equivalent to US$ 4,000
(* subject to TQ entitlement as observed though
verification of the passport) r
Application Form, Copy of Passport KYC
( HOCB & HOL&C approval to be sought for L3
accounts)
101
FEES & CHARGES

Issuing Fee
2% of Card Value (Minimum US$ 15 and Maximum US$ 40 ).
Note: Collected upfront from the Applicant/Purchaser in BDT and Exchange rate to be
applied is @ TT OD Selling
(15% VAT will be added to Issuing Fee)
Fee type
Cash withdrawal Fee
Card Replacement Fee
PIN Replacement Fee
Pay-order Issuance Fee
Statement Request Fee
Pre-closure Fee
Fee Amount
2% of txn. value or USD 2(whichever is
higher )
USD 5
USD 5
USD 10
USD 5
USD 10 and Pay-Order fee( if applicable)
Note: 15% VAT will be added to the fees/charges (excluding Cash Withdrawal Fee)
Cash Auth request includes
102
6.8 Debit Card

A Debit Card is a piece of plastic used for purchasing goods & services and for obtaining
cash disbursements on actual terms. It is an advanced replacement of traditional ATM
cards.
Features
Debit card can be used both in ATMs and POS machines at merchant outlets.
It is not credit at all as the payments are made from customers own bank
accounts.
Cardholders can purchase goods/services up to the amount of money they have in
their bank account and can keep using the facility till account closure.
Debit card is a safer substitute to cash and is the major mode of payment
worldwide.
Key Benefits
Standard Chartered Debit Card Provides customers easy access to their money
from all 35 SCB ATMs along with VISA Member banks ATMs as well as VISA
enabled POS machines at merchant outlets in Bangladesh.
Debit Card is a convenient way of paying now from customers personal account
with no interest charges.
Every purchase and ATM withdrawal will be reflected on the account statement
of the customer-which is an easy way to track spending.
Customers dont need cash for shopping anymore if they have Debit Card. It is
surely the safest & easiest mode of transacting.
Around 1000 merchant establishments and 35 ATMs of our own ? surely the
largest network in the country.
103
SCB ATM/Debit Card Network
35 ATMs are distributed all over the country in the important locations. The numbers of
ATMs are increasing day by day.
Use of Debit Card
Debit Card can be used in ATMs for the following purposes:
Cash Withdrawal
Cash/Cheque Deposits.
Credit Card Payment
PIN Change
Statement and Cheque Book request
Fund Transfer
Utility Payment with no interest charges.
Balance Enquiry.
Transaction Details
Mini-Statement & many more
Customers can also withdraw cash in other VISA member bank ATMs and can do
purchase transactions in POS machines which acquire VISA Debit Card.
How to get a Debit Card
Customers can get his/her debit card by simply opening a transactional account in
Standard Chartered Bank.
104
6.9. ALTERNATIVE CHANNELS
6.9.1 ATM
ATM stands for Automated Teller Machine. This machine is capable of dispensing cash,
taking deposits and providing other services to customers. The ATM is a fast, easy and
convenient way for customers to withdraw deposit cash and also avail other services
offered by the ATM, without having to step into a branch.
Number of ATMs:
Standard Chartered Bank has 35 ATMs in Bangladesh. 22 are located within branch
premises and 13 are situated in offsite locations. ATMs within branch premises are:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Dilkusha (2)
Motijheel (Alico)
Kakrail
Sheraton
Sonargaon
Kawran Bazar
Dhanmondi # 2
Dhanmondi # 5
Banani
Gulshan
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
Gulshan North
Uttara
Mirpur
Chawkbazar
Narayanganj
Nasirabad
Agrabad
Chittagong Main
Bogra
Khulna &
Sylhet
The present all 13 offsite ATMs are located in:

1.
2.
3.
4.
5.
6.
Johnson Road
Tejgaon
BAT, Mohakhali
Gulshan 1
Shyamoli
Shanker
7.
8.
9.
10.
11.
12.
13.
Basundhara City
Motaleb Plaza
Plaza A.R
Agora, Maghbazar
Uttara S.R Plaza
Price Club, Bishwa Rd.
Jamal Khan Rd. Chittagong
105
Service timings:
Services are available through the ATMs 24 hours a day, 365 days a year.
Facilities available through ATM:
Cash withdrawal: Customers can withdraw a maximum of BDT 20,000/- daily.

Priority customers are able to withdraw a BDT 50,000/- daily and Extra Value
Savings Account customers can withdraw a maximum of BDT 40,000/- daily.
Cash deposit
Cheque deposit
Mixed deposit
Instruction deposit
Balance enquiry
Fund transfer
Instant mini-statement printout
Cheque book request
Statement request
SCB Credit Card bill payment
Utility bill payment
Credit card holders can avail the facility of cash advance & utility bill payment
through the ATMs.
106
6.9.2 Call centre
Standard Chartered Banks 24-Hour Call Centre is the easy answer to our customers
banking needs. No more queuing at the branches and its absolutely free.
Features:
To provide cost effective alternate delivery channels to customers in order to attain
service excellence in terms of:
24 / 7 One window service
Convenience & Easy accessibility
Quality & Responsiveness
Technology based solutions
Free of Charge
Access to SCB Call Centre:

Customers can get his/her call center facility by simply opening a transactional account in
Standard Chartered Bank.
For Credit Card customers, the TIN is generated online. The cardholder contacts the call
centre and after the necessary security checks have been conducted, generates the TIN
himself/ herself.
Services Offered:
Balance inquiry
Transaction details
Duplicate statement request
Cheque book request (only for liability accounts)
Online TIN generation (only for credit cards)
Existing TIN change
Currency & deposit rates (USD, GBP, Euro, Yen, AUD & CAD)
Product information (banking accounts, personal loans, auto loans, credit cards,
flexi loans, priority accounts and small & medium enterprises)
Fund transfer within same master & local currency
107
Credit Card Bill payment
Utility Bill Payment (GrameenPhone, Aktel, Citycell, Sheba & Prisma Digital)
Transfer from Credit card to Bank account/ Cash advance (currently disabled)
Request for solvency, interest & loan related certificate
Pay Orders & Demand Drafts requests
Card account inquiries
Authorizations
Card Activation - new & renewed
Blocking of lost cards
Request for card re-instatement & replacement
Amendment of address & telephone number
Duplicate statement request
Request to change statement date
SafetyNet de-enrolment & re-enrolment
Instabuy transfer
Reward point redemption
Fees & Charges

There is no extra charge for using the Call Centre.
Service Timings
Call center service are available 24 hours a day, 7 days a week, 365 days a year.
Call Center Number - 8961151 or 0173041400-19
6.9.3 I-banking
:I Banking (Internet Banking) is a simple, hassle-free and secure internet banking
service available to all Standard Chartered Bank customers in Bangladesh .
108
SCBs I Banking offers instant access to a wide range of online banking services and the
latest promotions. Because it has been designed for speed and ease of use, it takes only a
few minutes to complete a banking transaction or get up-to-date account details. iBanking
is a convenient, user-friendly way of staying informed and in control of ones account
from anywhere in the world.
Eligibility for I Banking Access:
Customer with a Company A/C, Convertible A/C, Foreign Currency A/C
Services available through i Banking:
Account Services: View entire relationship with the Bank at a glance, check account
balance, view and download statements.
Fund transfers: Transfer funds between own Standard Chartered Bank accounts.
Standing orders: Request the set-up of standing orders.
Cheque status: Check the status of cheques issued from accounts.
Credit Card Payments: Pay from the account to card.
Credit Card Services: View card statement, check the card balance, apply for a credit
limit increase.
Market watch: Get updated on foreign exchange rates.
Fees & Charges
There is no extra charge for using the Call Centre.
Service Timings
iBanking service are available 24 hours a day, 7 days a week, 365 days a year.
109
6.9.4 BillsPay Centre
The Bills Pay Centre is Standard Chartered one-stop bill payment solution. It is an
automated service that is designed to ease the customers bill payment problems.
Locations:
The Bills Pay Centers are located at the following branch premises Dilkusha, Gulshan and Dhanmondi # 2.
Fees & Charges:
There are no additional fees associated with Bills Pay Centre.
Features available:
Bank Payments: the customer can make credit card payments or even deposits into his/
her account round the clock.
Utility Payments: payment of DESA, DESCO and BTTB bills can be made through Bills
Pay.
Key Features
The customer use the Bills Pay Centre to pay your BTTB, DESA and DESCO
bills.
The customer can send a representative to any of our Bills Pay Centers to pay his/
her utility bills.
Services of SCB Bills Pay Centers are available 24-hours a day, 365-day a year.
The customer no longer needs to queue up at branches to pay utility bills or settle
credit card outstanding or to even make a deposit into his/ her account.
6.9.5 InstaBuys:
InstaBuys is an installment plan that allows cardholder the flexibility to convert any retail
purchases transaction into an installment scheme where the cardholder pays back the
amount at a rate of interest as low as 16.95% per annum over a tenor ranging from 6
months to 36 months. The customer enjoys the flexibility to buy high value items on
110
Standard Chartered credit card and conveniently pay in monthly installment. The
minimum transaction amount eligible for an installment plan is BDT 5,000.
Cardholder makes the purchase and the

Transaction is posted to the card account
Cardholder calls Cards Call Centre
Cards Call Centre Staff:

ID check, credit history check on Card 400
Decline
Request
Not O.K.
Cards Call Centre Staff:

Log request and forward it to Card Operations
Card Operations:
Transfer the transaction to loan sub-account in
Card 400
Card Operations:
Generate a weekly report through Card 400 with
list off all cardholders registered for InstaBuys
Cards Customer Service:

Send confirmation letters, on a weekly basis, to
cardholders
Figure 13: Instabuys Process Flow

111
6.9.6 SMS Banking:
Standard Chartered Bank has launched a unique banking technology that not only makes
customers life easier, but also helps them to maintain a superior lifestyle. SMS Bankingis the simplest way of finding out the daily or month end balance of customers Banking
Account and the daily outstanding balance, available limit, statement balance, minimum
amount due and payment due date of customers Credit Card. Services currently offered
by SMS Banking are:
Push!
Through PUSH service, information regarding customers Credit Card
statement and Banking Accounts month-end balance will be available to
customers periodically, free of charge.
Pull!
Through PULL service, customer will be able to access his Credit Card or
Banking Accounts previous days outstanding amount / balance and a
range of other financial information.
112
6.10. Other Special Services:
6.10.1. Safe Deposit Locker Service:
Standard Chartered offers customers a modern locker system for safekeeping of their
valuable articles and confidential documents. Standard chartered ensures utmost
confidentiality & personalized service for customers locker operations.
Service offers:
Exclusive service area for locker service users.
Secure & confidential service
Modern locker system with best available safety features.
Personalized and prompt service from a dedicated locker custodian.
The Safety Features:
24-hour close circuit TV surveillance and Security guards.
Dual control by client and the locker custodian.
Strong heat-resistant steel lockers lodged in re-inforced concrete & cement, steel
vaults for maximum-security protection.
Size and Rents:

Table 3: Size and Rents of Locker (Source: SCB Official Document)
Size
Small
Medium
Large
Measurement
4.5 "*7"*23.5"
4.5"*14"*23.5"
7"*14"*23.5"
Annual Rent
BDT 3000
BDT 4200
BDT 5400
113
6.10.1 Launch of Corporate Executive Pack:

Standard Chartereds Corporate Executive Pack (CEP) is a custom designed
comprehensive banking products and services offer to meet salaried employees
financial needs. Corporate Executive Pack allows customer to choose from a range
of deposit products, loans and Credit Cards. Customer will also have the unique
advantage of 24-hour banking facilities through ATMs, Call center, Internet Banking,
SMS Banking, etc. A major benefit offered by CEP is that customer will be assigned
Relationship Manager to help them solving all banking needs. Another benefit is the
special discounted interest rates and fees that recognize customers status as a
privileged customer
6.10.2 Government Bonds:
Like all other banks, SCB provides its customers with bond services. Various types of
government bonds (like BSP, 3MSP) are available with the bank. These bonds are sold
and related accounts are maintained according to the already established procedures.
6.10.3 Speed Cheque Deposit:
The Speed Cheque Deposit system saves a customers precious time by allowing him to
drop the Cheque in the Speed Cheque Deposit Box. All a customer needs to do is to
complete the Cheque deposit slip and keep the counterfoil. To complete the Cheque
deposit slip a person has to mention the account number of the Cheque, the name of the
bank with branch, cheque number and amount. After finishing writing the cheque deposit
slip the customer needs to staple the cheque with the slip and drop it inside the box.
114
6.10.4 Online Banking:

SCB offers its customers with the facility of operating their bank accounts from any of its
sales and service centers across the country. This enables customers to meet their country
wide banking needs out of single account.
6.10.5 Welcome Pack:
The welcome pack is by far the fastest and easiest way of opening accounts in the
country, which is first introduced by SCB in October 2001 (so it is called the 21 st century
account by SCB). It offers a set of absolutely unrivalled benefit. With a Welcome Pack,
account is opened the minute the customer produce the necessary documents. Welcome
pack contains:
Serial No.
Items
1.
Account Number
2.
A 10-leaf Cheque book
3.
Money link, ATM card and Personal Identification

Number (PIN)
4.
Telephone Identification Number (TIN)
Table 4: Welcome Pack (Source: SCB Official Document)

6.10.6. Evening Banking:
115
The SCB launched the latest special services for its valued customers are the evening
banking facility. In this special service a customer can do banking from 6.00 p.m. to 8.00
p.m. Now five branches of SCB is providing the service and other branches will also
provide the very special service in near future.
Section VII
CUSTOMER LOYALTY
116
7. Customer loyalty:
A critical piece of Standard Chartered growth strategy is to ensure the loyalty of

customers. Service Quality is central to the success of any service institution. Standard
Chartereds aspiration to be The Right Partner falls in to this framework as well.
Service providers are continuously striving to provide the best that they can possibly give
to their customers so as to differentiate from competitors.
SCBs customer loyalty attainment program involves 6 work streams, which are
intertwined and interdependent. These include:
Voice of Customer (VOC)
Complaint Management
Retention Management
Process Improvement
Matrix & Measurement
Creating a Service Culture
117
7.1 Intelligent Queue Management Quick Queue System:

To address one of key service gaps, the waiting time at the teller counter, SCB has
developed a software solution system that will aid in trafficking people at the branches.
In its simplest, IQMS manages queue at a bank teller counter. When a customer arrives at
the bank, this system prints a token for him after receiving the necessary input. The token
notifies the counter number where he would be served and also provides an approximate
waiting time form him. On the teller side, each counter has a separate queue. When a
teller is serving a customer, the software system enabl3es the teller to display the token
number of nest customer to be served on a LCD Screen. An audible alarm and blinking
display indicates the termination of serving the current customer and a request for the
nest customer to approach the counter.
The software system is connected to the central database through a network. It stores all
the event information such as, total waiting time, total service time, arrival date and time,
service category, teller id etc. these stored data are analyzed by an intelligent system and
later used to make the prediction about the waiting time for future customers. These data
are also used to evaluate the performance of the bank teller. The software also provides
an administrative console to configure the system, i.e., an administrator can change the
number of available teller, modify service availability time, enable or disable the system
or change the waiting time prediction method. He can also view any sensitive information
and can make modification to the queue database.
118
The Quick Queue system of SCB helps to upgrade customer experience in the following
ways:
The system generates a token for teller service based on type of service ( cash
withdrawal or deposit, cheque deposit, credit card payments etc.) & the volume of
service ( below 50K. 50-100K, over 100K etc)
The system automatically calculates the workload of available teller/CSO and the
token is issued where the customer will experience the lowest possible queue.
CSO/ Teller can view the number of people awaiting his service. BSSM can also
view the current status and get a total picture of the floor thus being able to
track individual as well as overall performance.
Customers on receiving the token can go about their business without having to
stand in queues. They can go for walk, look through brochures etc.
7.2 Complaint Management:

Standard Chartered solves complaint by utilizing C-manager a robust program to
monitor, resolve and track customer complaints/voice. Complaint Management is a key
component in Voice of Customer design. It closely interacts with other components in
VOC to form a holistic view on customer dissatisfaction for improvement.
119
7.2.1 Benefits of Complaint Management:
Seek complaint and customer feedback actively.
Drive rapid service recovery.
Minimize future complaints by eliminating root causes.
Design a roadmap for reaching the group standards.
Ensure action oriented reporting.
Relationship Management System
Complaint
Management
E -Forms
Call Office
Administrator
Figure: Relationship Management System
7.3 The Four Stages of Improvement:

Standard Chartered always focuses on how to make transactions more satisfying, relationships more reliable, and partnerships
increasingly powerful.
Stage One:
120
Explore: The domain of exploration, discovery and open-minded

speculation. Both parties must engage with a commitment to mutual
disclosure and the invention of new possibilities.
Stage Two:
Agree: Robust exploration leads to new opportunities for creating a future

together. Initial requests, proposals and offers are often the first step
towards mutually satisfactory agreements.
Stage Three:
Deliver: Take necessary action to fulfill promises and thoroughly execute

agreements. Serve, develop, customize, manufacture, test, install, train,
modify and provide promised training and support.
Stage Four:
Assure: Check to see if promises have been fulfilled, confirm that the
customers needs have been actions have taken and finally find ways to
work even more effectively together.
Explore
Agree
Assure
Deliver
121
Figure: The four stages of improvement (Source:

Newsletter of SCB)
7.4 VOC (Voice of Customer):

One of the major work streams of Customer Loyalty is VOC. VOC research is
continuous effort, which helps in learning what customers have to say. After gather VOC,
SCB trying to incorporate the customer response into viable products/services. For e.g.
over the phone banking was a prime expectation of customers of SCB that fulfilled by
Call Centre. Thus VOC helps in designing new products / services and ensures customer
requirements. Ultimately this is what SCB require for staying in business profitably. At
present full VOC initiative entails the following:
VOC through customer complaint / feedback

VOC through customer suggestions
VOC via sales and service personnel while they interact with customers
VOC from third party such as, card merchant points, vendors etc.
VOC from annual research by third party research firm
122
7.5 Four Styles of Interaction:

In the beginning, great products were enough to guarantee business success, next came
rapid delivery, followed by excellent service mindset. Today winning companies are
growing in another vital dimension, building stronger partnerships with their most
valuable clients, suppliers and employees.
Four Systems of
Interaction
One Shot
Deal
Transaction Satisfaction
Reliable
Relationship
Powerful
Partnership
123
Figure: Four Styles of Interaction

The first style of interaction, one shot deal, is characterized by completing the exchange
of the moment. No lasting commitment is intended nor implied. The second style,
transactional satisfaction, takes more moments of truth and additional effort is required
to meet or exceed customers expectations. The third style, reliable relationships,
extended consistency and dependability as customers and suppliers count on each other
for more frequent business. The fourth style also extends into the future, but the value and
importance of the interaction actually grows significantly over time. In a Powerful
Partnership both parties learn that working well together brings new possibilities, unique
opportunities and otherwise unachievable growth.
A powerful partnership does not grow unattended. Substantial effort and ongoing
investments of time, creativity and resources are required to keep a Powerful
Partnership going and growing. And that is the aim of Standard Chartered to build a
powerful partnership by becoming the Right Partner of their customers.
7.6 Service Excellence: From Customer Satisfaction To Customer Delight

Standard Chartered Bank maintains following mechanism in customer service
excellence:
Making customer feel important.
Working fast & efficiently.
Service with smile.
Having adequate product knowledge.
Handling objections efficiently and courteously.
To conduct customer surveys to gather Voice of the customer and enable to
gauge the current level of satisfaction with service.
124
To assess present process capability and to measure key processes end to-end
from a customer viewpoint.
To set up Quality Council in each country where service and quality initiatives
will be discussed and key measures monitored.
Establishing service quality training.
End Result: Creating loyal customers.

Service excellence
Retention
Sales
Figure: Service Excellence
125
Section VIII
A COMPARISON AMONG THREE BANKS
8. A Comparison among SCB, HSBC & BRAC Bank

To understand the competitive position of SCB in consumer banking we can compare it with
other banks which are within same generic strategic group in the banking sector.
To do so, here we took HSBC and BRAC bank to compare with SCB.
The comparison is done under three broad categories depending on the most common factors
faced by an individual doing banking. These are,
1. Relationship Network
No. of Branches
No. of ATM Booths
2. Basic Charges
Account Related Charges
Statement Related Charges
Transaction Related Charges
126
3. Fast Track Services

Online Banking
Phone Banking
ATM
Evening Banking etc.
4. Minimum Amount Required to Open an Account
Current A/C
Savings A/C
Card A/C
Now, we can see every category separately.
8.1 Category-1
8.1.1 Number of Branches
127
Result
Largest network: BRAC
Smallest network: HSBC
8.1.2 Number of ATM Booths
128
Result
Largest network: BRAC
Smallest network: HSBC
8.2 Category-2
8.2.1 Account Related Charges
129
SCB
HSBC
BRAC
A/C Maintenance
Fee
1000
(500 half yearly)
1200
(300 quarterly)
800
(yearly)
A/C Closing Fee
500
300
500
Cheque Book
item) Charge
(2nd 200
200
100
Debit / ATM Card 600

Annual Fee
Free (ATM)
400
Debit / ATM Card 300

Replacement Fee
150
400
Result:
Lowest Cost: HSBC
Highest Cost: SCB
8.2.2 Statement Related Charges
130
SCB
HSBC
BRAC
Duplicate
Charge
Cycle)
Statement 500
(Current
1000
100
Duplicate
Charge
Cycle)
Statement 1000
(Previous
500
300
Solvency
Charge
Certificate 250
500
200
Balance Confirmation 250

Certificate Charge
300
200
HSBC
BRAC
500
500
200
Free
Result:
Lowest Cost: BRAC
Highest Cost: HSBC
8.2.3Transaction Related Charges
SCB
Cheque Returned Due 1000

to Insufficient
Fund: Charge
Cheque Returned Due
to Other Reasons: Free
Charge
Result:
Lowest Cost: BRAC
Highest Cost: HSBC
8.3 Category-3
Fast Track Services
131
SCB
HSBC
BRAC
Online Banking
Yes
Yes
Yes
Phone Banking
Yes
Yes
Yes
Internet Banking
Yes
Yes
Yes
ATM
Yes
Yes
Yes
Auto Bills Pay
Yes
Yes
Yes
SMS Banking
Yes
Yes
Yes
Result:
All three banks have almost same level of service.
8.4 Category-4
Minimum Amount Required to Open a Current A/C
132
Amount Req.
SCB
HSBC
BRAC
50,000
50,000
10,000
Minimum Amount Required to Open a Saving A/C
Amount Req.
SCB
HSBC
BRAC
25,000
50,000
15,000
Minimum Amount Required to Open a Card A/C
Amount Req.
SCB
HSBC
BRAC
20,000
10,000
N/A
Result:
Easiest Access: BRAC
Hardest Access: HSBC
8.4 Cumulative Result
133
After analyzing all factors discussed above we can reach into following conclusion,
SCB
HSBC
BRAC
Network Area
Cost Effectiveness
Technological Edge
Ease of Access
(Here, 1, 2 & 3 indicates position among three)
In short,
BRAC - Largest network, Lowest cost, Easiest to access
SCB - Large enough network, respectively higher cost, Relatively easy to get access
HSBC Smallest network, Highest cost, High entry barrier
134
Section IX
FINDINGS OF THE REPORT
9. Findings:
9.1 SWOT Analysis:
135
The acronym for SWOT stands for
Strength
Weakness
Opportunity
Threat
The SWOT analysis comprises of the organizations internal strength and weaknesses and
external opportunities and threats. SWOT analysis gives an organization an insight of
what they can do in future and how they can compete with their existing competitors.
This tool is very important to identify the current position of the organization relative to
others, which are playing in the same field and also used in the strategic analysis of the
organization.
136
Sound profitability and continuous growth
Banking Experience for more than 55 years
Larger corporate client base
Experienced and efficient management team
Quaity products and services

Better technological facilities
Company reputation and goodwill
Better brand image
Full scale automation
Unique customer service
Small market share
Limited branch network
High concentration on fixed deposits and largescale loans

Higher rate of charges & fees
Lower interest rate in deposit
Intention to target higher-income customer segment
Defensive marketing strategy
Scope of market penetration through diversified products
Automation of transaction processes
Online branch banking

Governments policy of encouraging heavy inflow of foreign
investment
High population density of Bangladesh
Regulatory environment favoring private sector
Value addition in products and services
Increasing trend in international business
Technological edge over its competitors
Increased competition for market share in the industry
National and global political unrest
Default culture of credit
137
Islami banking
9.1.1 Strength:
SCBs Banking Experience for more than 55 years provides SCB the strength of
being the market leader in the foreign banking sector. This strength of SCB is totally
unmatched by any other multinational bank in Bangladesh, as the long term success
of a bank heavily depends on its reputation while dealing with every sensitive
commodity like money.
SCB is the first bank in Bangladesh to issue Money link (ATM) card. As the market
leader, they showed the most substantial corporate strength among the foreign banks
by grabbing the opportunity that exists in the market.
In Bangladesh SCB has wide range of customer base and is operating efficiently in
this country.
SCB has a bulk of qualified, experienced and dedicated human resources.
SCB has the reputation of being the provider of good quality services to its potential
customers
138
9.1.2 Weakness:
SCB has fewer branches than their competitors. Such as SCB have only 18 branches
whereas Uttara Bank Limited has 198 branches and 12 regional offices.
SCG has more and high fees and charges compared to its rivals. Such as minimum
balance fee, ledger fee etc. as a result SCB is loosing its customers.
SCB often has problem with market share as ATM machines. Customers often
complain that the ATMs are out of order.
SCB hasnt that much good market share as other multinational bank. Its as because
SCBs marketing strategy is not aggressive they always follow defensive/
conservative strategy. This may be considered as weakness.
9.1.3 Opportunity:
The population of Bangladesh is continuously increasing at a rate of 7.3% per anam.

The countrys growing population is gradually and increasingly learning to adaptation
of consumer finance. As the bulk of our population is middle class, different types of
products have very large and easily pregnable market.
139
The activity in the secondary financial market has direct impact on the primary
financial market. Investment is a national socio economic activity. And activity in the
national economy controls the bank.
Bangladesh has a huge consumer base for maintaining several accounts. So SCB has
the opportunity to keep these customers by reducing its current fees and charges.
9.1.4 Threats:
In todays economy, substantial amount is remaining idle and currently the investment
in the secondary market by foreign is relatively low. These economic situations of the
country indicate political threats.
Increased competition by other foreign banks is also another threat to SCB. At present
HSBC and CITI Group are posing significant threats to SCB regarding retail and
business banking respectively. Furthermore, the new comers in private sector such as
Prime Bank, Dutch Bangla Bank, EXIM Bank, BRAC Bank, Southeast Bank,
Mercantile Bank, Social Investment Bank, Islamic Bank are also coming up with very
competitive force.
140
Section X
POLICY SUGGESTIONS
141
10. Policy Suggestions:

STANDARD CHARTERED BANK has some threats and weaknesses that will turn down
the operation of this bank to a great extent. It is been seen that customer complaint has
increased recently than before for this reason it is high time that the employees are
trained up more to avoid future mishaps. Some recommendations are proposed below.
In the deposit accounts the new emerges in the market are providing a higher
rate of interest compared to STANDARD CHARTERED BANK and for this
reason the MANCO might give a second thought about re-fixing the rate.
Competitors like HSBC, City Group & the latest entrant BRAC Bank has
launched a similar type of product like Personal Loan for Consumers with a
lower rate and charge. STANDARD CHARTERED BANK should take
precautionary measures to keep their products viable to customers both new
and old.
STANDARD CHARTERED BANK should lower its charges immediately to
prevent the loss of customers.
Interaction among senior & subordinates officials should be encouraged
Arrange workshops/ training programs to keep employees motivated in their
work.
The establishment of more branches may boost up the chance of becoming
more customer base for STANDARD CHARTERED BANK.
142
Bangladesh is an Agro-based economy, but so far the bank does not have any
schemes or policies in this agricultural sector, which is definitely a point of
consideration.
Introducing Micro-finance. Micro-finance provides relatively
small, but
properly regulated loans to important but under-financed parts of the

economy. In many countries, these sectors are vital to economic development
yet are all but ignored by the banking sector.
Standard Chartered Bank is one of the oldest banks in Bangladesh. It has more
experience in local conditions than many of the local banks. In the final analysis, it is the
customer who can make difference between making the business. Therefore, the bank
should be on a constant vigil to ensure reasonable and competitive level of customer
service and satisfaction.
143
Section XI
CONCLUDING REMARKS
144
11. Concluding Remarks:
As an organization the Standard Chartered Group has earned the reputation of top foreign
banks operating in Bangladesh. The organization is much more structured compared to
any other foreign bank operating in Bangladesh. It is relentless in pursuit of business
innovation and improvement. It has a reputation as a leader in financing manufacturing
sector.
With a bulk of qualified and experienced human resource, Standard Chartered can exploit
any opportunity in the banking sector. It is pioneer in introducing many new products and
services in the banking sector of the country. Moreover, in the retail-banking sector, it is
unmatched with any other foreign banks because of its wide spread branch networking
thought the country.
This report tries to figure out most of the indicators of problems and strengths of
STANDARD CHARTERED BANK as a foreign bank in the competitive banking sector
of Bangladesh. A severe cut throat competition is going on currently in this sector and
thats why STANDARD CHARTERED BANK has to work out with different dimensions
like product diversification, market forecasting, proactive activities undertaken by
STANDARD CHARTERED BANK and some suggestion to get rid of the predicaments
that exist.

Standard Chartered Bank Consumer Division Investigation

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1

1.2 Objective of the Report:

1.3 Methodology of the Report:

Discussion with officials of SCB

Face to face conversation with the clients.

1.3.2 Secondary Sources of Data:

Annual Reports of SCB

Other published documents of SCB

Periodic Bulletins published by the Bangladesh Bank

Various brochures on the products and services offered by the SCB

Publication of Bangladesh bank

2.2 Organizational Overview:

Middle East & UK & USA

Table: Global presence of Standard Chartered Bank (Source: Internet)

United States of America (4)

Hong Kong (80)

2.4 Present Situation of SCB:

2.5 Global Strategy:

To concentrate operations in those activities that support Standard Chartered Banks

2.6 Operation of Standard Chartered Group:

Global Net-work of Standard Chartered Bank

Figure: Global Network of Standard Chartered Bank

2.7 Business Activities of the Global Standard Chartered Bank:

2.7.1 Global Consumer Finance:

2.7.2 Personal Banking:

2.7.3 Global Corporate and Institutional Banking:

2.7.4 Global Custodial Service:

Dedication to the customer needs

Sustained investment in people and systems.

2.7.5 International Trade Management:

2.7.6 Global Cash Management:

2.7.7 Global Institutional banking:

2.7 .8 Global Electronic Banking:

2.8 Expansion of SCB:

2.8.1 The Acquisition of ANZ Grindlays by Standard Chartered:

2.8.2 Acquisition of Korea First Bank:

Aligning both management and governance

relationships with key stakeholders

new products to the market.

2.8.3 Company Image and Logo

3.1 Standard Chartered Bank in Bangladesh:

Branches of SCB all over the country:

Comparison in Terms of Deposit

Figure: Comparison in terms of deposit among the foreign banks.

3.2 Standard Chartered Acquires American Express Banks Business in Bangladesh:

3.3 Achievements Of Standard Chartered Bank in Bangladesh:

While Standard Chartered Bank in Bangladesh is yet to be at forefront of many of these

State of art ATM network running on unique platform

Usage of optical storage for retrieval of records on customers request.

On-line real-time connection among all branches.

Full-fledged back-up data center support.

Only bank in the country to use inter-city VSAT link.

Only Bank using automated mailing system.

SWIFT communication for payment transfer.

E-mail service network amongst all the branches.

Standard Chartered Bank recognizes their responsibility to invest in communities world

SERVICE & ORGANIZATIONAL STUCTURE OF SCB

4. Service & Organizational Structure of SCB:

Consumer banking division meets the needs of individual customers with

Banks and other

Corporate & Institutional

Figure 3: The Relationship between Respective