Establishment of Full-fledged Virtual Banking in Bangladesh: Measures to Overcome Obstacles
International Journal of Economics, Finance and Management Sciences
Volume 4, Issue 1, February 2016, Pages: 26-30
Received: Jan. 5, 2016; Accepted: Jan. 26, 2016; Published: Feb. 13, 2016
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Md. Omar Faruque, Department of Finance, Jagannath University, Dhaka, Bangladesh
Md. Nurul Kabir Biplob, Department of Finance & Banking, Begum Rokeya University, Rangpur, Bangladeh
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Virtual banking, though a newer concept in Bangladesh, is not new for the world. Since inception full-fledged virtual banking provided some benefits and suffered from some drawbacks. Some countries find this type of banking beneficial while some countries find this as not appropriate based on the countries’ macro environmental factors. Some countries prefer remaining within ‘brick and click’ approach of providing banking services. Later or sooner Bangladesh, one day, will enter into the world of full-fledged virtual banking. This exploratory nature of study aims to find out possible obstacles that Bangladesh may face prior to starting and after starting full-fledged virtual banking operation. These obstacles should be overcome to let full-fledged virtual banking take into operation. The study also suggests that it is the best time to decide whether to remain in ‘the brick and click’ approach or ‘full-fledged virtual banking’ approach. This requires analysis of country specific risk and factors and macro environmental factors. Further research is also necessary to prove the validity of the obstacles or challenges stated in the study and take correct policy decision.
Brick and Mortar, Brick and Click, Virtual Bank
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Md. Omar Faruque, Md. Nurul Kabir Biplob, Establishment of Full-fledged Virtual Banking in Bangladesh: Measures to Overcome Obstacles, International Journal of Economics, Finance and Management Sciences. Vol. 4, No. 1, 2016, pp. 26-30. doi: 10.11648/j.ijefm.20160401.14
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