Consumer Banking and User Satisfaction of Debit Card

Major focus of this report is to analysis on Consumer Banking and User Satisfaction of Debit Card at Shahjalal Islami Bank Limited. Other objectives are to discuss the product debit card and find out the level of debit card users of the bank and their different queries regarding cards. Finally find out the factors on which the debit card holder’s satisfaction level depends and suggest ways of improving the service standard and satisfaction level of the customers.



Broad objective: To measure the degree of satisfaction level of debit card holders.

Specific objective:

  • To present an overview and brief introduction of Shahjalal Islami Bank.
  • To discuss the product debit card.
  • To find out the level of debit card users of SJIBL and their different queries regarding cards.
  • To find out the factors on which the debit card holder’s satisfaction level depends.
  • To suggest ways of improving the service standard and satisfaction level of the customers.




Bangladesh is one of the largest Muslim countries of the world. The population of the country is deeply committed to Islamic way of life as enshrined in the Holy Quran and Sunni. Naturally it remains a deep cry in their hearts to fashion and design their hearts to fashion and design their economic lives in accordance with the precepts of Islam. Shahjalal Islami Bank Limited is named after the name of a saint Hajrat Shahjalal ® who dedicated his life for the cause of peace in this world and hereafter and served the humanity. The prime objective of Shahjalal Islami Bank Limited is to serve the people for attainment of their economic goal and success in life here and hereafter. SHAHJALAL ISLAMI BANK LIMITED stands not only for material well being but also for ethical development of its customers. The incorporation of Shahjalal Islamic Bank Limited on April 01, 2001 is the true reflection of this inner urge of its people, which started functioning with effect from May 10, 2001. It is committed to conduct all banking and investment activities on the basis of interest-free profit-loss sharing system. In doing so, it has unveiled a new horizon and ushered a new silver lining of hope towards materializing a long cherished dream of the people of Bangladesh for doing their banking transactions in line with what is prescribe by Islam. Shahjalal Islamic Bank Limited has by now earned the unique position of a leading private commercial bank in Bangladesh.

“Shahjalal Islami Bank Limited” offers the full range of banking services for personal and corporate customers, covering all segments of society within the framework of Banking Company Act and rules and regulations laid down by our central bank. Diversification of products and services include Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture, real estate to software and is backed by the latest technology.

The Bank is being managed by a group of highly experienced professionals with diversified experience in finance and banking The Bank has already achieved tremendous progress within only five years. The bank has already ranked as one of the quality service providers & is known for its reputation.

By now, the Bank established correspondent Banking relationship with 18 Banks covering their global network of 385 branches/units of International repute at different important locations. It also established accounting relationship with 10 Banks and maintaining 22 NOSTRO Accounts in 8 (eight) major Currencies at different convenient locations.

The Bank is managed by a Team of professional Executives and Officials having profound banking knowledge & expertise in different areas of management and operation of Banks. During the short span of time, Shahjalal Islami Bank so far introduced a good number of attractive deposit products to broaden the resource base and also Investment products to deploy the deposit resources so mobilized. Some more schemes covering the deposits, Investments & Services will be introduced gradually in near future suiting to the taste and requirement of the clients. The Bank has a strong Shariah Council consisting of prominent Ulama, Fuquah & Economists who meet periodically to confer decisions on different Shariah issues relating to Banking Operation & to address them and to give necessary guidance to the management on Shariah Principle. Since inception, Bank has been performing in all the sectors i.e. general Banking, Remittance, Import, Export & Investment. All our branches are fully computerized having on line Banking facility for the clients.



The purpose of conducting this research is to find out the customer satisfaction level toward the credit card services provided by SJIBL – Foreign Exchange Branch, and the scope of improvement in order to achieve more profit.

  • This study will help the employers to gain more knowledge about the satisfaction level of the debit card holders and will help them to redefine their strategies to satisfy the customers. It will also help them to analyze more about their product.
  • After conducting the study the employees will be more motivated to adopt new ways of approaching the customers.
  • This report will not only help the management of SJIBL, but also the stakeholders on a whole. Different financial institutions can be motivated to take an essence of this report in order to improve their different features of debit card and ways of improving their customer service. In that way the market will be more competitive and ultimately the society at large will be benefited.
  • People may come to know about the different advantages of having debit card, which will increase the volume of profit of the bank and boost up the economy of the country.


Principal Activities

The principal activities of the Bank is to provide all kinds of commercial banking products and services to the customers including deposits taking, cash withdrawal, extending investments to corporate organization, retail and small & medium enterprises, trade financing, project finance, working capital finance, lease and hire purchase financing, issuance of Debit Card. Its vision is to be the best private commercial bank in Bangladesh in terms of efficiency, capital adequacy, asset quality, sound management and profitability.

Strategic plan for future growth

The Banking industry experienced intensification of competitive pressure as the national and international banks operating in Bangladesh strongly pursued the banking and financing needs of the Corporate, Retail, SME sector customers through diversification of products and services and extending automated banking service with ATM, Debit card facilities and Internet Banking. Besides, rates of profit became very competitive for deposit and lending; Customers are demanding higher rate of return against their deposits. On the other hand, Bangladesh Bank is also asking the banks to reduce their lending rates without adjusting the profit on deposits.

Considering the overall scenario, SJIBL continues to focus on its delivery channel, technology, Human Resource and its brands along with branch network, Business promotion, and Corporate Social Responsibility and product diversification.



Shahjalal Bank limited started it’s business operation when the world had just experienced the deterioration in the overall economy and declining growth for almost all major regions of the world. The overall economic scenario in Bangladesh was also under crucial situation. Confronting many different difficulty of our economy the bank has successfully established a track of steady growth and desired level of achievement. Within five months of inception, the Bank could attain “breakeven” position. As on 20.12.2003, the Bank has achieved profit worth of Tk.19.00 crore. Besides, the bank is increasing asset financing. The Board of Directors of the Bank does not compromise on the quality of assets and the management, within many obstacles has shown their ability to generate steady growth in business.

In the process, the Bank has been able to maintain a satisfactory capital adequacy ratio. As per guideline of the central bank, limit on portfolio concentration has necessitated diversification of it’s investment. As a result, small and medium enterprises have been receiving financial assistance.

The management has become more strength in servicing the clients by developing its technology, human resources and service policy.


The total deposit of Shahjalal bank Ltd. Has stood at Tk.551.89 crore as on 20.12.2003 among which the Bank deposit is Tk. 137.00 crore and core deposit is Tk.414.89 crore. Time deposit constituted 84.82% of the total deposit mix. Savings constituted 57.28% and Demand Deposit was 15.58% of the Total Deposit. The deposit mix of the Bank is comprised of different categories of deposit scheme:

  1. Al-Wadiah Current A/c.
  2. Mudaraba Savings Deposit.
  3. Mudaraba Short Notice Deposit.
  4. Mudaraba Term Deposit
  5. Deposit schemes: I) Monthly Income Scheme ii) Double Profit Scheme iii) Monthly Deposit scheme iv) Millionaire Scheme v) Hajj Deposit Scheme.



The investment of the Bank is guided by the law supported by Shariah. To comply with the shariah’s rule strictly, the Bank has adopted different modes of Investment in consistence with different nature of business. The bank has been looking for good investment clients have credit-worthiness and good track record.

Investments are broadly two categories in nature: a) Funded b) Non-funded. The major sector of Investments is:

Textile Industries, Garments industries, Trading, Real Estate Business, Chemicals, Capital Machinery’s and so on. The investment portfolio consisted of different categories of investment

  1. Murabaha.
  2. Bai-Muajjal
  3. Hire Purchase
  4. Investment against L/C
  5. Inland Bills Purchase
  6. Investment in Schemes
  7. Bai-Salam
  8. Quard
  9. Leasing


Operating Profit:

Shahjalal Bank started its Banking operation on 10.05.2001. It could reach its break-even position after five months and earned an operating profit of Tk.7.38 million at the close of the year ended on 31.12.2001. As on 31.12.2002, the profit reached on 9.56 crore.

Profit and Loss Appropriation Account: For the period of 2001

Appropriation of ProfitAmount (Taka in Million)
Operating Profit7.38
Less: Provision for unclassified investment2.17
Less: Provision for Income Tax2.95
Less: Statutory Reserve1.04
Profit & Loss A/c. surplus1.22

Local Money Market:

SJIBL being an Islamic Bank does not deal in call money market as the transactions of the market are based on interest.


SJIBL attached great importance in adopting technology-based products to enhance the quality of service for its customers. As far the Bank has computerized its all operations and established its network among all the Braches through on-line banking.

Information sharing and transactions like Telegraphic Transfer, Demand Draft and other financial information is being processed on real time basis with the help of this communication network.

The customers are not required to open multiple accounts at different branches. Including many other automated banking services, customers can have the facility to transact from any branch of Shahjalal Bank ltd. Inside its operation, the Bank maintain accounting software which facilitates its day to day operation on tractions. In beneath of any transaction, once an input is given into the computer, the in-build soft-wares process the data in all levels of accounting cycle and provide the statement of different accounts quickly with pure accuracy.


Investment Administration and monitoring activities are constantly supervised and persuaded to keep the portfolios in the sound footing.


One of the major businesses of the International Division is Foreign Exchange Dealing. The bank earns a substantial amount from this wing’s operations. Treasury Operations deals in the money market of Islamic Banks and maintains the statutory Liquidity Ration (SLR) and Cash Reserve Ratio (CRR) with Bangladesh Bank.

The Bank has established correspondent banking relationships with many important countries of the world to facilitate cross boarder trade and payment related services.


Supervision of banking operations of Branches/ Head office Divisions of the Bank is a vital part of the corrective measures usually taken by the Management. Branches control Division conducted inspection of branches of the Bank every year. Follow-up implementation of the findings of the Inspection Reports is a continuous process.

Authorized Capital40004000200020002000
Paid up capital274022461872936936
Total equity (core & supplementary5430406930411363848
Core capital4676360527881205741
Supplementary capital754464253158107
Total Deposits4745934280226181809112205
Total Investments4395832919206171551610590
Import Business3954342551254901868413114
Export Business294342634715084112826295
Inward Foreign Remittance10473949842953535690
Total contingent liabilities & commitment144751047716403640360204835
Total Income71175285358925631621
Total Expenditure50763475227417181119
Operating Profit204118101315845502
Profit/ loss before tax171515661216788466
Profit/ loss after tax1071818647463256
Fixed Assets6203391279383
Total Assets(excluding off balance sheet items)5892144110283472134314448
Volume of non performing investment4131431283052
Amount of provision against classified investment11828232114
Amount of provision against unclassified investment480355215157106
Amount of provision against off balance sheet exposures14810838
Earning per share(taka)39.0729.8428.8149.5033.63
Book value per share (taka)100100100100100
Net asset value per share (taka)179.80160.53148.95128.7579.26
Investment to total deposits ratio(%)92.6296.0391.1585.7786.77
Dividend per share     
Cash Dividend
Bonus Dividend25 %22 %20 %
Return on equity (%)25.1025.5823.2138.4434.46
Return on asset (%)
Operating income ratio (%)28.6834.2436.6432.9630.95
Net income ratio ( %)15.0415.4718.0318.0715.76
Classified investment as % of total investment.
Capital adequacy ratio (%)13.9813.8116.4210.398.70
Cost of deposits (%)9.139.319.009.558.23
Cost of fund (%)11.0710.9910.4010.839.76
Return on general investment (%)13.4614.1814.6814.0813.21
Number of Branches5133262116
Number of Brokerage house51
Number of SME centre75
Number of Employees1299878555377340
Number of Shareholders3667539971409661919
Number of foreign correspondents610590550490460



The revenue is recognized as follows complying the conditions of revenue recognition as provided in IAS-18.

  • Income from investments
  • Income from bills purchased and discounted
  • Fees and commission when earned



SJIBL’s market share of deposits and investments are small. The banking industry of Bangladesh had a deposits of Tk. 1,440.16 billion (excluding inter-bank and Government deposits) and loans and advances of Tk. 1,319.60 billion on December 31st 2007, shared among 49 banks consisting of 4 NCBs, 5 specialized banks, 10 foreign banks, 24 private commercial banks and 6 Islamic banks. SJIBL’s customer deposits stood at Tk. 10.81 billion and Tk. 6.92 billion in year 2007 and year 2006 respectively. The investments (loans and advances) of SJIBL stood at Tk. 10.59 billion and Tk. 7.15 billion respectively during the same period. As on 30th June 2007 SJIBL’s customer deposits and investments stood at Tk. 14.23 billion and Tk. 12.80 billion.

SJIBL held only 0.75% of total market deposits and 0.81% of total market investment (loans and advances) on 31st December 2007. However the growth rate of SJIBL is much higher than that of the overall market growth mainly due to small base effect. The SJIBL’s customer deposits were increased by 56.33% compared to industry growth of 16.56% and PCBs growth of 20.00% in year 2007 over previous year. During the same year, the investments (loans and advances) of SJIBL were increased by 48.14% compared to industry growth of 19.08% and PCBs growth of 30.00 in year 2007. As 3rd generation bank in the private sector with an age of only 5 years, the SJIBL has been growing rapidly though the size of the bank is still small considering its market deposits and investments (loans and advances).


We provide personalized solutions to all our customers. The Bank distinguishes and identifies corporate customers’ need and designs appropriate solutions accordingly.

Shahjalal Islami Bank Limited offers a complete range of financing and operational services to its corporate client groups combining trade, treasury, investment and transactional banking activities. We offer accurate solution whether it is project finance, term Investment, import or export deal, working capital requirement. We are pledged bound to render efficient services to satisfy customer needs.

Our experience in handling Corporate Banking business covers a wide span of businesses and industries. We hold leverage on our expertise in the following sectors particularly:

  • Textile Spinning, Dyeing / Printing
  • Ready Made Garments
  • Agro processing industry
  • Edible Oil, Consumer and Diversified Industries
  • Industry (Import Substitute / Export oriented)
  • Food & Allied products
  • Paper & Paper Products
  • Engineering, Steel Mills
  • Chemical and chemical products etc.
  • Telecommunications.
  • Information Technology
  • Real Estate & Housing
  • Wholesale trade
  • Project Finance
  • Lease Finance, Hire Purchase, International Banking
  • Transport
  • Pharmaceuticals
  • Export Finance
  • Import Finance
  • Non Banking Financial Institutions



Consumer Banking Practice outlines the minimum standards of good banking practice we can expect from our bank.  This will be a guide for, the customer, when we transact with our bank and it will help us better understands our bank’s responsibilities in serving us. It will enhance the industry standards in the provision of products and services. As the needs of customers change and the banking industry evolves, this will be reviewed regularly and revised if necessary.


The Code of Consumer Banking Practice for retail banking customers has been developed to:

  • Promote good banking practices by setting minimum standards in dealing with consumers;
  • Increase transparency so that you can have a better understanding of what you can reasonably expect of the services;
  • Promote a fair and cordial relationship between the customer and the bank;
  • Foster confidence in the banking system.

Key Commitments

The bank’s relationship with customer will be guided by four key principles:


Here bank commits that it will:

  • Act fairly and reasonably in all its dealings with customer;
  • Ensure that all the products and services of fered are in line with the Code;
  • Establish a clear and common set of procedures to ensure that any disputes between customers and its bank will be resolved fairly and quickly.


The bank commits that it will:

  • Provide the customer with relevant and useful information that will help them arrive at informed decisions about its products and services;
  • Provide clarification, highlighting major points that impact the products and services that customers are interested in buying;
  • Inform them of the range of products and services offered through various delivery channels (e.g. over the Internet, telephone or in branches).


The bank commits that it will:

  • Explain and help customers understand the financial benefits of its products and services that they are interested in buying, how they work and the risks involved;
  • Ensure that the procedures laid down for the bank’s
  • staff reflect the commitments set out in the consumer banking practice;
  • Ensure that all products and services meet relevant laws and regulations.


The bank commits that it will:

  • Have a secure and reliable banking system;
  • Ensure records and transactions are kept confidential and accurate;
  • Maintain a reliable system of security controls for the bank’s self-service banking channels;
  • Ensure that the information provided is up-to-date.


Service Standards

The bank will ensure that:

  • Its staff are trained to provide prompt and efficient service, so that customers transactions will be handled promptly and their queuing time minimized;
  • ATMs and other self-service banking channels, if offered, will be available both day and night to serve them;
  • Information on its products and services will be updated and current. It will be made easily available at bank
  • Customers will be informed earlier days in advance before implementation of any changes to the Terms and Conditions, fees and charges and discontinuation of services/relocation of premises.
  • Its officers will handle and respond to their feedback;
  • Customers complaint will be acknowledged earlier
  • a dispute resolution process is in place to ensure all.



Consumer banking plays an important role in banks profitability. Although the growing economy and further improvements in the level of household income have created many opportunities for consumer banking, there is also increasingly strong competition amongst the financial institutions due to the liberalization and globalization of the banking industry. In order to remain competitive, banks have taken steps to introduce new consumer banking products and services that will make banking more convenient and accessible to the public.

Shahjalal Islami Bank Limited offers a complete range of retail and personal banking products and services through its network of 25 branches across the length and breadth of Dhaka. A thorough understanding of customer needs has helped Shahjalal Islami Bank Limited to successfully develop flexible and customized products to meet them. An institution which accepts deposits, makes personal loans, and offers related services. Our customers can be assured of a banking service that is flexible enough to tailor-make a product suite to take care of their specific banking needs. Our objective is to offer excellent value to customers by providing knowledgeable, efficient & reliable services in a personal, helpful and responsive manner.                                 .


The bank offers a wide range of Islamic financial products and services. Under Islamic deposit schemes it offers Al-Wadiah Current Account, Mudaraba Savings Account, Mudaraba Short Notice & Term Deposit, Mudaraba monthly Deposit Scheme, Mudaraba Foreign Currency Deposit Account, Mudaraba multiple benefits scheme, Mudaraba monthly Income Scheme, Mudaraba Millionaire Scheme, Mudaraba Hajj scheme. In addition, the bank is going to introduce some new products to broaden its customer base further like Cash walkfo and Mudaraba savings bond for 5, 8 and 10 years. The existing investment schemes are Bai-Murabaha, Bai-Muajjal, and Hire Purchase under Shirkatul Malek, Bai-Salam, Ijara, Quard, Household Durable Scheme, Housing Investment scheme, Real Estate Investment Program, Transport Investment Scheme, and Small Business Investment Scheme etc.

SJIBL has the plan to introduce Q-cash, which will facilitate the bank’s clients to purchase goods and services and cash withdrawal facilities. During 2006 bank has launched a new deposit scheme “Cash Waqfo”. The above products are considered to be sufficient to have additional market share.

The general banking is the most important and basic work of the banks. All others department are linked with this department and its also plays a vital in deposit mobilization of the Local of Branch. For proper functioning and excellent customer service general banking is divided into various sections:

  • Accounts Opening Section
  • Remittance Section
  • Establishment Section
  • Dispatch Section
  • Schedule of Statement Section



The deposit mix of the Bank is comprised of different categories of deposit scheme:

  • Al-Wadiah Current / Mudaraba Savings A/c:

The account can only be opened with the introduction of any acceptable client/ current account holder of the Bank. In order to open Al-Wadiah Current / Mudaraba Saving Account, a minimum amount of Tk.25000/= / Tk.5000/= is to be deposited and   the minimum balance with minimum amount of Govt. tax is to be maintained in the account. For the saving account, the client will receive at most 5.5% profit on minimum saving for at least one year, as stated in the form. The Bank reserves the authority to return cheque, if otherwise. The client has to submit all the necessary documents as required and mentioned at back of the form. A client may also avail the online banking facility for the fee of Tk.600/= yearly.



  • Monthly Income Scheme: In this scheme, the client has to deposit at least Tk.50,000/= for 5 years and will be getting around Tk.450/= per month as profit after deducting the Govt. TAX. Here the client also needs to open a saving account in which the profit from MIS will be transferred. Here the client will need to bring 4 copies of PP size photo of self and 2 copies of the nominee to open this account.
  • Double / Triple Profit Scheme: In this scheme, the client has to deposit at least Tk.10, 000/= for 6 years to be doubled and 9 ½ years to be tripled the amount. Here the client also needs to open a saving account in which the profit from MIS will be transferred. Here the client will need to bring 4 copies of PP size photo of self and 2 copies of the nominee to open this account.
  • Monthly Deposit scheme: In this scheme, the client may deposit Tk.100/=, 250/=, 500/=, 1000/=, 2000/=, 5000/=, 10000/=, 25000/=, 50000/= monthly for 5 years, 8 years or 10 years term. Here the client will need to bring 1 copy of PP size photo of self and of the nominee to open this account. Client may deposit in the account within 25th of each month. For late payment, client will be charged Tk.25/= for each month. And if the client fails to deposit the amount in consecutive 4 months, the account will be closed. Client may also avail the facility of transferring the amount from his saving account by paying Tk.50/= at once and Tk.5/= for per transaction.
  • Millionaire Scheme: In this scheme, the client may deposit monthly for 12 years, 15 years, 20 years or 25 years term. Here the client will need to bring 1 copy of PP size photo of self and of the nominee to open this account. Client may deposit in the account within 25th of each month. For late payment, client will be charged Tk.25/= for each month. And if the client fails to deposit the amount in consecutive 4 months, the account will be closed. Client may also avail the facility of transferring the amount from his saving account by paying Tk.50/= at once and Tk.5/= for per transaction. Mudaraba Millionaire Scheme (MMS)




  1. Inward mail other than those which are registered, marked confidential and addressed personally to same official, may be opened by an authorized member staff who should enter in the inward mail register and mention serial number of the mail register ion the letter/paper received, affix Received date stamp on it and delivery the same to the concerned officials against acknowledgment.
  2. Letters addressed personally to any official shall be opened by the address only.
  3. An officer or management in small branches will open registered mails and mails marked confidential. All these letters shall however enter in the inward mail registers.


  1. All outward letters must bear serial number and entry in the register with name and address.
  2. Each typist will maintain a typist master file and dispatch Clark also maintain a separate master file for future record.
  3. Letters dispatched must be entered in the outw3ard mail register and bear proper postal stamps, if sent through post office.
  4. Remarks such as urgent by airmail. Register, confidential etc. must appear on top of the letter as well as envelop.
  5. If registered post or courier sends the letters services, the dispatch department in a file must maintain postal receipt/courier receipt similarly acknowledgments received bank should be maintained in the file.
  6. If any branch a copy of the message duly signed sends any telegram by authorized officials must be sent by post to the address as confirmation.
  7. Similarly, when the branch receives any inward telegram, they must compare it with the confirmatory copy when received.
  8. Receipt for telegraphic message issued by telegraph office should be maintained in a file, and authorized officials must check tem at the time of passing expenses voucher.
  9. If any telegram is sent relating to services given to a customer, Charges should be recovered from the customer concerned.


Letters of credit are commonly used to reduce credit risk to sellers in both domestic and international sales arrangements. By having a bank issue a letter of credit, in essence, one is substituting the bank’s credit worthiness for that of the customer

There are several major varieties of letters of credit, each serving a different purpose. An Irrevocable Letter of Credit cannot be cancelled before a specific date without agreement by all the parties involved, whereas the issuing bank can amend a revocable letter of credit at any time.

A Confirmed Letter of Credit carries the endorsement of both the issuing bank and its correspondent, guaranteeing payment of all drafts written against it; an unconfirmed letter of credit carries no such guarantee that a correspondent will honor drafts presented for payment. A Standby Letter of Credit is a contingent (future) obligation of the issuing bank to

make payment to the designated beneficiary if the bank’s customer fails to perform as called for under the terms of a contract. Standby letters, for this reason, are considered Off-Balance Sheet Liabilities in computing bank capital-to-asset ratios. See also Back-To-Back Letters of Credit; Credit Enhancement; Documentary Commercial Bill; Open Account; Red Clause Letter of Credit; Sight Draft; Time Draft; Traveler’s Letter of Credit.



Shahjalal Islami Bank Limited is a member of the Society for Worldwide Inter Bank Financial Telecommunication (in abbreviation S.W.I.F.T). SWIFT is the industry-owned co-operative supplying secure, standardized messaging services and interface software to nearly 8,100 financial institutions in 207 countries and territories. SWIFT members include banks, broker-dealers and investment managers. The broader SWIFT community also encompasses corporate as well as market infrastructures in payments, securities, treasury and trade.


Mobile Banking is a secured & flexible solution that delivers the banking services to its customers through a range of mobile devices using SMS / Push Pull technology. It provides banking services to the registered clients access to account information and real-time transaction capabilities from the mobile phones at a true “Anywhere, Anytime, Anyhow” convenience.

It works using Shot Message Services (SMS) Technology. It works through a set of text message. With SMS, client can perform a wide range of query-based transactions from his/her mobile phone. It also provides pre-defined Alert Message Service. The Service is designed to serve the bank customers by informing the real-time data about their account such as current balance, recent transaction statement, cheque status etc. as SMS reply within about half a minute in response to their SMS query in a defined simple syntax. It can also serve the customers to stop a cheque, receiving statement request and other request / order at the branch for processing through SMS.

As a leading private sector bank in Bangladesh the Shahjalal Islami Bank Limited presents the Mobile banking i.e. SMS / Push Pull service.


  • Balance Inquiry
  • Cheque Book Request
  • Cheque Leaf Status
  • FC Rate Information
  • Cheque Stop Payment Instruction
  • Statement Request by Courier/Post
  • Statement request by E-mail
  • Last Three Transaction Statements
  • Help inquiry
  • PIN Change


Western Union is serving for money transfer to the customers for more than 150 years through the help of Electronic Money Transfer. As each transfer is done electronically, the sender is assured of that the money is transferred safely. People can easily get their money from abroad within a minute. No bank account is required for this. From Shahjalal Islami Bank Ltd by giving his/her identity and filling an easy form any one can collect money through Western Union Money Transfer. There are 22 Agent Location of Shahjalal Islami Bank Ltd in Bangladesh .


Grameen Phone subscribers availing the service to pay their bills, advances, security deposit and other related charges through all branches of Shahjalal Islami Bank Limited.



Debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser’s checking account. They can also be used at automated teller machines for withdrawing cash from the user’s checking account. Increasingly common in the 1990s as an alternative to credit cards, debit cards have been promoted as safer than cash as and more convenient than personal checks. By 1998 more than 73 million debit cards had been issued, with a sales volume of $134.7 million attributed to their use. They are typically issued by large credit-card companies through their participating banks. Debit cards offer the holder more limited legal protections than credit cards. Similar cards have also been used to distribute welfare benefits to recipients in some locales.

A debit card is a plastic card which provides an alternative payment method to cash when making purchases. Physically the card is an ISO 7810 card like a credit card; however, its functionality is more similar to writing a cheque as the funds are withdrawn directly from either the cardholder’s bank account (often referred to as a check card), or from the remaining balance on a gift card.

Depending on the store or merchant, the customer may swipe or insert their card into the terminal, or they may hand it to the merchant who will do so. The transaction is authorized and processed and the customer verifies the transaction either by entering a PIN or, occasionally, by signing a sales receipt.

In some countries the debit card is multipurpose, acting as the ATM card for withdrawing cash and as a check guarantee card. Merchants can also offer “cashback”/”cashout” facilities to customers, where a customer can withdraw cash along with their purchase.




Debit cards are perfect for smaller and everyday type purchases, like those at the supermarket, drug store, or dry cleaners.  With the power of debit cards, you can avoid the hassles of cash and checks.  Fewer trips to the money machine.  No need to provide I.D. at the checkout counter.  No risk of misplacing money.  Debit cards are easy to use and each transaction is detailed on your monthly checking account statement, allowing you to monitor where and when you’ve spent your money.

With a debit card, you can gain more control over your finances.   The ability to track your purchasing habits makes the debit card an ideal budgeting tool, helping you project future expenses or highlight irresponsible spending habits.

The Debit Card provides a safe and convenient place to save your money. Like a bank account carried in your pocket, you can use your Debit Card as frequently as you wish, and still get interest on the balance in your card. When you want access to your cash, you can go to any participating bank branch to withdraw cash from your card. Debit Card has the largest network of cash withdrawal points of any card in Bangladesh!                  !

The micro-processor chip (a mini computer) on the card makes the card highly resistant to unauthorized use. A PIN (Personal Identification Number) is needed to authorize each transaction. A photograph of the cardholder also provides security and also acts as a proof of identity. Lost or stolen cards can be replaced with the previous balance intact.
You never have to worry, whether traveling or moving about the city, about what might happen to your money                                                      !

Debit Card merchants can provide you with virtually every shopping need. Our network is large and growing rapidly. With Debit Card technology, making the payment is easy too. The merchant doesn’t have to call a bank for authorization. Transactions are made between the card and the electronic terminal (whether or not the phone is working). After each transaction, you keep a voucher recording the purchase. Nothing could be easier than shopping with Debit Card!                                            !

Pay for services as well. Health, medical, courier, internet and many other services are covered by our network. Utility bill payments are also an important feature of the Debit Card. Debit Card one-stop utility bill payments will allow you to make prompt payments of your telephone, water, gas and electricity bills – all at the same counter. Just use your Debit Card. It takes less than a minute for each bill.                                               .

No more standing in queues for utility bills will be required. Debit Card saves you time and effort.

Everything about Debit Card is very easy. Short application forms, low fees, immediate authorization of transactions, separate windows at bank branches, one-stop utility bill payment, are all an important part of how we work to make your life easier. You have enough to worry about. When it comes to carrying funds, making payments and doing all of this with greater convenience and safety, we want to help you .                 .

With an ever expanding network, continued product development and great customer service, you will soon notice an important change for the better in your life. Additionally, we offer special prize give-a ways for new cardholders and existing cardholders who use their card. It is just our way of saying thank you to our valued customers, and, most importantly…

We want everyone to win with Debit Card!



The key difference between credit cards and debit cards is that each time a consumer uses a credit card; he or she is incurring debt to a credit card issuer. Debit cards, on the other hand, are a financial instrument whereby the consumer is using his or her own money that is being withdrawn from an existing banking account that has already been funded. This major difference means there are 10 disadvantages of debit card use. Bill at a later date, or to write an insecure check containing the account holder’s personal information. Like credit cards, debit cards are accepted by merchants with less identification and scrutiny than personal checks, thereby speeding up transactions and feeling less


Debit and check cards, as they have become widespread, have revealed numerous advantages and disadvantages to the consumer and retailer alike. Advantages are as follows:

  • A consumer who is not creditworthy and may find it difficult or impossible to obtain a credit card can more easily obtain a debit card, allowing him/her to make plastic transactions
  • Use of a debit card is limited to the existing funds in the account to which it is linked, thereby preventing the consumer from racking up debt as a result of its use, or being charged interest, late fees, or fees exclusive to credit cards.
  • For most transactions, a check card can be used to avoid check writing altogether.
  • Check cards debit funds from the user’s account on the spot, thereby finalizing the transaction at the time of purchase, and bypassing the requirement to pay a credit card intrusive to the user. Unlike personal checks, merchants generally do not believe that a payment via a debit card may be later dishonored.
  • Unlike a credit card, which charges higher fees and interest rates when a cash advance is obtained, a debit card may be used to obtain cash from an ATM or a PIN-based transaction at no extra charge, other than a foreign ATM fee.

The debit card has many disadvantages as opposed to cash or credit:

  • Some banks are now charging over-limit fees or non-sufficient funds fees based upon pre-authorizations, and even attempted but refused transactions by the merchant (some of which may not even be known by the client).
  • Many merchants mistakenly believe that amounts owed can be “taken” from a customer’s account after a debit card (or number) has been presented, without agreement as to date, payee name, and dollar and cent amount, thus causing penalty fees for overdrafts, over-the-limit, amounts not available causing further rejections or overdrafts, and rejected transactions by some banks.
  • Debit cards offer lower levels of security protection than credit cards [14]. When used for a PIN-based transaction, theft of the PIN can be accomplished a lot easier than a signature-based credit transaction using skimming devices. In many places, laws protect the consumer from fraud a lot less than with a credit card. While the holder of a credit card is legally responsible for only a minimal amount of a fraudulent transaction made with a credit card, which is often waived by the bank, the consumer may be held liable for hundreds of dollars in fraudulent debit transactions. The consumer also has a much shorter time (usually just two days) to report such fraud to the bank in order to be eligible for such a waiver with a debit card[15], whereas with a credit card, this time may be up to 60 days. A thief who obtains or clones a debit card along with its PIN may be able to clean out the consumer’s bank account, and the consumer will have no recourse.
  • In the UK and Ireland, among other countries, a consumer who purchases goods or services with a credit card can pursue the credit card issuer if the goods or services are not delivered or are unmerchantable. While they must generally exhaust the process provided by the retailer first, this is not necessary if the retailer has gone out of business. This protection is not provided when using a debit card.
  • When a transaction is made using a credit card, the bank’s money is being spent, and therefore, the bank has a vested interest in claiming its money where there is fraud or a dispute. The bank may fight to void the charges of a consumer who is dissatisfied with a purchase, or who has otherwise been treated unfairly by the merchant. But when a debit purchase is made, the consumer has spent his/her own money, and the bank has little if any motivation to collect the funds.
  • For certain types of purchases, such as gasoline, lodging, or car rental, the bank may place a hold on funds much greater than the actual purchase for a fixed period of time [16]. Until the hold is released, any other transactions presented to the account, including checks, may be dishonored, or may be paid at the expense of an overdraft fee if the account lacks any additional funds to pay those items.
  • While debit cards bearing the logo of a major credit card are accepted for virtually all transactions where an equivalent credit card is taken, a major exception is at car rental facilities [17]. When car rental agencies require an actual credit card to be used, or at the very least, will verify the creditworthiness of the renter using a debit card. These companies will deny a rental to anyone who does not fit the requirements, and such a credit check may actually hurt one’s credit score.



Plastic Money business is definitely going big time in Bangladesh. More and more local and international financial institutions are exhibiting enthusiasm in this direction. It reflects prospects in Bangladesh market in accommodating numerous credit card competitors operating on the circuit, ensuring healthy and competitive card business deals. Debit cards are now being introduced in Bangladesh. Money spent using these cards are deducted automatically from a bank account. Debit cards in particular are rapidly growing more popular. In fact debit cards look like credit or ATM cards, but work like cash or a personal cheque. By definition you can’t run up credit on a debit card; you must have money in your account. In short they offer you the transactional convenience of a credit card, without a credit facility.

Standard Chartered Bank

Standard Chartered Bank is well known globally for the value of customer’s safety and convenience the most. To add more to it, SCB introduce Debit Card shortly. The amount customers pay while shopping, dining or traveling will be debited from the customer’s account. So, don’t have to worry about overspending and finance charges. Debit Card can be used at any outlet in Bangladesh with a “Visa” logo. This Debit Card replaces the customer’s existing ATM Card and can pay utility bills and withdraw cash from any of the SCB’s 24 ATM booths across. Moreover, this debit card also covers accidental death insurance coverage. The yearly charge for this card is BDT 690.

Janata Bank

The Ready Cash Card (debit card) was introduced in Bangladesh by Janata Bank in October 1999. Its operation has not expanded well yet. The Ready Cash cards will be used as an alternate to cash transaction. The bills of telephone, electricity, WASA will be brought under the card payment system. People can pay the gas bill by Ready Cash Card. The water and sewerage bills in the capital and Narayanganj can now be paid by ‘Ready Cash’ card through one stop service from July 1, 2001. An agreement to this effect was signed between WASA and American International (Bangladesh) Limited on May 16, 2001. The cardholders will be able to pay the bills, including the utility bills easily and without any risk. Arrangements will be made soon for payment of telephone and electricity bills by using the Ready Cash cards. The Mercantile Bank and Dhaka Bank have introduced Ready Cash Card in limited scope.

Jamuna Bank

Debit cards generally used for instead of cheque book. There is no rules and regulation to issue debit card. Both the employers and account holders can enjoy this type of cards. The can withdraws different ATM booths. It is the easiest way to withdraws money.

Card Issuance

  1. Card application
  2. Risk assessment
  3. Card delivery to customer
  4. Card activation

Trust Bank

Debit card with Visa Logo is called Visa Electron. This card is for Trust Bank account holders only. All customers of the bank will receive this card. All existing Q-Cash cards will be replaced by Visa Electron. Trust Bank expects to issue at least 16000 Visa Electron cards among the accountholders of the bank by end of 2007. All customers of Trust Bank will receive the cards free of cost


Issuing Fee (Tk)0
Renewal Fee (Tk)500
Other Fees & Charges (Tk or %) 
OD interest rate for staff (Debit card only)15%
OD interest rate for others (Debit card only)17%
PIN resetting fee300
Per Transaction fee (Debit card – outside cards use TBL ATMs)10
Per Transaction fee (Debit card – TBL cards use outside ATMs)10
Per Transaction fee (Debit card – TBL cards use outside Q-cash network ATMs)150


Mutual Trust Bank Ltd (MTB)

MTB Visa Electron Card will be offered to each and every Savings, Current & STD Account holders of the Bank. This electron Card can be used at any Dutch-Bangla Bank’s ATM all over the country. MTB will introduce its own ATM soon.

  • No card fee for first year.
  • No transaction fees on POS & DBBL ATMs.
  • No time bindings for cash withdrawal.
  • No need to come to Branch for cash withdrawals.
  • 5000 outlets for shopping in Bangladesh.

Dutch-Bangla Bank Ltd

Dutch-Bangla Bank Limited (DBBL) has signed ATM sharing agreement with First Security Bank Limited at a simple ceremony held in the Head Office of DBBL on February 14, 2008.
Under this agreement, customers of First Security Bank limited will be able to withdraw money and get other services from the DBBL’s ATM network, use DBBL’s POS network for payment of their shopping/dining bills at shops and restaurants. DBBL will also provide card personalization (card encoding & embossing) and transaction pre-authorization services to the First Security Bank Ltd.

Charges & Fees for Debit Card:
Type of servicesClassicSilverGoldMaestroVisa Electron
Issuance fee(1st year only)Free10001500500500
Annual Fee(2nd year onward)20010002000500500
Replacement Fee200500700500500
PIN Change Fee200200200200200



To a customer, “My card, my money” concept is used for Debit Card. Any accountholder of SJIBL can apply for a SJIBL VISA Debit Card against his/her Al-Wadiah Current Deposit (AWCD), Mudaraba Savings Deposit (MSD) or Mudaraba Short Notice Deposit (MSND) Account. He/she is fully authorized to enjoy the benefits of cash withdrawals from ATMs, liberty of shopping, dining, paying utility bills and access account information through SMS, etc. round the clock.

SJIBL VISA Prepaid Card

SJIBL VISA Prepaid Local Cards are open to the customers even having no account with Shahjalal Islami Bank Limited. Card holders can have the card against prepayment and have access from anywhere in Bangladesh. SJIBL VISA Prepaid Local Cards are accepted locally at all VISA labeled merchant outlets, ATMs, etc.

  • SJIBL VISA Prepaid Card (International): SJIBL VISA Prepaid International Cards are also open to the customers even having no account with Shahjalal Islami Bank Cardholders can have the card endorsing US Dollar Paying against Travel Quota, Exporters Retention Quota or making Lien of his/her FC Account. SJIBL VISA Prepaid International Cards are accepted world wide at all the VISA labeled merchant outlets, ATMs, etc.
  • SJIBL VISA Prepaid Card (Dual): The Dual Card is a hassle free product, no need to carry two separate plastic cards for local and international use. Now, with one plastic card, the Cardholders can enjoy all the benefits and make transaction locally and globally from their Prepaid Card Account at all the VISA labeled merchant outlets, ATMs, etc.
  • SJIBL VISA Souvenir Card (Gift Card – Local): SJIBL Souvenir Card is a very attractive and stylish product. Like a Gift Card, SJIBL Souvenir Card can be used by anyone wishes to. The intending customer may have the card instantly or may customize the card as required. The SJIBL Souvenir Cards are accepted locally at the entire VISA labeled merchant outlets, ATMs, etc.


  • Sense of satisfaction of having an International brand
  • Anywhere anytime banking
  • 24 hors and 7 weeks banking
  • Directly linked to Cardholders Account at SJIBL (AWCD/MSD/MSND)
  • Convenient cash withdrawal at ATMs
  • Acceptability at huge number of  Q-cash ATMs around Bangladesh
  • Accepted at all VISA terminals locally and globally
  • Local and International transaction with the same card (for Dual Cards)
  • Balance Inquiry
  • Mini Statement
  • PIN change
  • Shopping at a large number of shops, departmental stores, supermarkets, boutiques and other merchants through Q-cash POS terminals around Bangladesh
  • Payment of Utility Bills
  • Avoid pressure at counter of banks
  • Minimizing risk of carrying cash
  • More to come…..

Special Features:

  • No Cash Advance Fee at SJIBL ATMs
  • Only Tk 10.00 per transaction at all other Q-cash ATMs all over the country
  • 1 (one) free supplementary card.
  • Account is not required for Prepaid cards

ATM Location of SJIBL:

Card Type:

There are two types of Card. Primary and Supplementary. Primary Card applicants may apply for Supplementary Card for his/her spouse or any family member. A separate Supplementary application form is required to be filled in.

SJIBL VISA Card usage 

  1. SJIBL VISA Debit card (VISA Electron) can only be used at Q-Cash ATMs & POS terminals and in entire VISA labeled merchant outlets & ATMs in Bangladesh.
  2. SJIBL VISA Prepaid Local/International/Dual Card can be used locally & globally in entire VISA labeled merchant outlets & ATMs.
  3. SJIBL VISA Souvenir Card can be used at Q-Cash ATMs & POS terminals and in entire VISA labeled merchant outlets & ATMs in Bangladesh.


Transactions Limit

Cash withdrawal limit from the ATMs is Tk. 20,000.00 as against single or highest 4 transactions in a day. Balance Inquiry, Mini Statement & PIN change can be done 3 times in a day.


SJIBL VISA Debit Card – Local

  • Two copies of passport size photograph.
  • A filled in SJIBL Card application form.
  • Maintain a deposit (ACD/MSD/MSND) Account at any branch of SJIBL.

SJIBL VISA Prepaid Card (Local/International/Dual)

  • Two copies of passport size photograph and personal information for customized card.
  • Photocopy of passport from 1 to 7 pages including endorsement pages.
  • Lien conformation of FC A/C from the concern branch for issuance of card against FC.
  • For issuance of card against in ERQ A/C maintained with SJIBL or with other Bank, Lien confirmation should be obtained from the respective Bank/Branch.
  • For issuance of card against new exporters and importers/producers quota relevant papers such as, recommendation letter from EPB/copy of tax return etc. are also required.
  • Deposit slip for deposited money against endorsement amount.
  • Forwarding Letter from the respective Branch with detail particulars for card.

SJIBL VISA Prepaid – Local / SJIBL Souvenir Card

  • Two copies of passport size photograph and personnel information for customized card.
  • Deposit slip for deposited money against Prepaid – Local or Souvenir/Gift amount.
  • Forwarding Letter from the respective Branch with detail particulars for card.

Usage Limit of VISA Debit Card


Cash withdrawal limit ( total)4 times per day
Cash withdrawal limit ( amount)Tk 20,000 per day
Balance checking4 times per day
Mini statement printing 2 times per day
 PIN change2 times per day
Invalid PIN retry count3 times per day
Card usage limit in ATMs (total)10 times per day



Fees & Charges

VISA Debit Card



Transaction Charges (ATM)

ON-US  Q-Cash Others(VISA)                         


  • Primary
  • Supplementary



















  • Primary
  • Supplementary













 VISA Prepaid Card



Transaction Charges (ATM)

ON-US   Q-Cash   Others(VISA)                         


  • Primary
  • Supplementary






















  • Primary
  • Supplementary





















Conversion chargeFor International use, 2% of withdrawal amount

Note: VAT charges will be added with all fees (other than transaction charges)



It is evident that SJIBL Foreign Exchange Branch– debit card division has failed to serve their customers appropriately in some areas. In order to improve in these areas, I have tried to make some recommendations for SJIBL Foreign Exchange Branch.

  • Diminish monthly and other related charges: Reducing existing charges can successfully attract a huge number of customers to SJIBL. If charges are made considerable, SJIBL can capture a big portion of middle class society who can be proved to be better customer than any other class of the society. SJIBL should lower their charges immediately so as to prevent the loss of customers.
  • Formulate comfortable procedure: People of our country usually do not want to step in those systems that are tricky and multifaceted. To hold on to a large number of customers SJIBL should understand that they have to make their service availing procedures, like to get a card; to seal it and other others related procedures, easier and tranquil.
  • Encourage the number of merchants: Another service, where SJIBL should turn their eyes on is the number of merchants available who accept their card. SJIBL should increase this number so that customers have to carry no cash with them. In that case SJIBL may arrange seminars with the merchandisers and make them convince about their payment system and benefits.
  • Inform customers more about debit card: From the analysis it came to know that many customers do not understand many terms and procedures of debit card although they are using the card. So, in this case SJIBL as a whole or if it not possible than it would a idea to only Foreign Exchange Branch to arrange a seminar for the debit card holders so that they become more educated and in that way SJIBL can grab more customers.
  • Train the employees more: Recruit or train the existing workforce. SJIBL should recruit more qualified, skilled and smarter salespeople, who will be able to persuade eligible customers to have a banking relationship with SJIBL. The present sales force does not seem to lack the quality, but still, to keep pace with the increased competition, it is advised to SJIBL to raise the skill level of the employees. In that case employee trainings and workshops should be administered in order to give them knowledge and professionalism in customer interactions. Along with that, SJIBL senior officials should be more cooperative to their subordinates and arrange for workshops to keep them motivated in their work.
  • Ease system error: As I have worked in the SJIBL Foreign Exchange Branch, so I faced some problem in the computer. And so I know that customer handling gets late because of the system error. It would be my suggestion to SJIBL that they try to solve this problem as soon as possible, so that there are no afterward in providing service to the customers.
  • Offer service on time: In the data analysis it is seen that officers tells exactly when services will be performed according to the respondents. However, this totally contradicts with the actual scenario. Officers should be more trained in regard to the actual processing and capturing time of the head office, so that there is no communication gap between them and the customers.
  • Maintain loyal relationship with debit card holders: The bank should focus more on existing card holders in order to build strong and loyal relationship with them as most satisfied customers recommends the bank to friends and relatives. Thus the power of relationship will promote positive word of mouth communication and will attract new customers.
  • Review the branch situation: The management of SJIBL Foreign Exchange Branch can consider doing an extensive marketing research on its own to understand the debit card holder’s perception and expectation. As customer expectations and satisfaction are not static figures, regular research at sufficient intervals should be conducted.
  • Monitor Quality assessment: SJIBL should closely monitor the quality of the service and continuously modify it. By doing this they may provide prompt solution of those problems to ease the requirements of the customer.



Annual debit card transactions at the point of sale have been growing at over twenty percent per year since 1996 and now exceed credit card transactions. In sharp contrast, the volume of checks has decreased dramatically since the mid-1990’s and is currently falling at three to five percent per year. The trends in ATM cash withdrawals and credit card transactions are both flat and growing only slightly. As a result, debit card is becoming the dominant form of payment for many consumers.

Modern Banking services are very competitive. In such a competition, we need to withstand ourselves with the current banking arena with our best services with latest technology trends.

As per Foreign Exchange Branch, it has been seen that although the debit card division has started on the year May, 2007, it is trying its best to satisfy their customers on top of things.

SJIBL Foreign Exchange Branch is very popular established concept and we do have a huge clients circle. The main customers of this branch hold a strong background, which is a positive obsession for this branch. However, from this report it came to know that there are many factors to which customers are very much dissatisfied. In order to confiscate this dissatisfaction it would be better if this branch gets more spirited in every aspect in their service.

Now a day the relationship between the customer and Bank is much dependent on the Bank’s Services offered to the customer.  By technology revolution Bank’s services has also sprouting day to day. And to synchronize with the competitive race in the banking arena most of the latest features and services have to be adopted. It should be considered that the customers have very few choices of banks with which they can actually compare the good debit card service. However, the local banks have recently focused their attention to customer service, satisfaction and debit card service. Moreover, there are a good number of private banks that are in the competition. Therefore, it is better for Shahjalal Islami Bank Limited not to let the situation be worse, and from now on SJIBL should emphasize on serving customers more effectively and efficiently.

Despite stiff competition amongst Banks presently operating in Bangladesh, both local and International, our Bank has made remarkable progress practically in every sphere of its activities during the past seven years. At the end of seven years of operation, the Bank maintained its position as one of the leading new generation private sector Bank in the country in terms of capital base and good governance. This success has been made possible due to dynamic leadership of the Bank Management under business friendly policies adopted by Board of Directors mingled with devotion, dedication, motivation and sincere efforts of all categories of officers and employees of the Bank. Realizing this bank’s started to facilitate their customers by providing several card systems, where Debit Card is one of them. This card is very convenient method of making purchases without carrying cash.