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
Views 4004      Downloads 145
Md. Omar Faruque, Department of Finance, Jagannath University, Dhaka, Bangladesh
Md. Nurul Kabir Biplob, Department of Finance & Banking, Begum Rokeya University, Rangpur, Bangladeh
Article Tools
Follow on us
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
To cite this article
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
Copyright © 2016 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Ahmed, S. S., Rayhan, S. J., Islam, M. A., & Mahjabin, S. (2011, June). Problems and prospects of mobile banking in Bangladesh. Journal of Information Engineering and Applications, pp. 16-35.
Alam, N., Magboul, I. H., & Raman, M. (2010). Challenges Faced by Sudanese Banks in Implementing Online. Journal of Internet Banking and Commerce, 1-9.
Al-Amin, S., & Rahman, S. S. (2010). Application of electronic banking in Bangladesh: An Overview. Bangladesh Research Publications Journal, 172-184.
Ali, M. M. (2010, June). E-Business and on line banking in Bangladesh:. AIUB Bus Econ Working Paper Series/ Office of Research Publication.
Arnaboldi, F., & Claeys, P. (n. d.). Innovation and performance of European banks adopting Internet.
Arnaboldi, F., & Claeys, P. (2008, 11). Internet Banking in Europe: a comparative analysis. Research Institute of Applied Economics.
Biswas, D. S., Taleb, A., & Shinwary, S. S. (2011). Electronic Banking in Bangladesh: Security. Canadian Journal on Scientific and Industrial Research, 181-194.
Ericsson, J., Farah, P., Vermeiren, A., & Buckalew, L. (2012). Winning Strategies for Omnichannel Banking.
Gilani, N. (n. d.). Retrieved 2013, from eHow Web site:
Hamidur. (2009). Online Banking begins in Bangladesh.
Hasan, K. (2009). E-Banking in Bangladesh: The Future of Banking. 1-19.
Liao, S., Shao, Y. P., Wang, H., & Chen, A. (1999). The adoption of virtual banking: an empirical study. International Journal of Information Management, 63-74.
Nasri, W. (2011). Factors Influencing the Adoption of Internet Banking in Tunisia. International Journal of Business and Management, 143-160.
Okunoye, A., Abiodun, O. B., & Mark, F. (2007). IT Innovations and E-service Delivery: An Exploratory Study. 9th International Conference on Social Implications of Computers in Developing Countries. Sao Paolo.
Rahman, D. M., Uddin, D. M., & Siddiqui, S. A. (2012). Problems and Prospects of E-Banking in Bangladesh. International Journal of Scientific and Research Publications, 1-6.
Sayeed, Y., Bari, M., Rahman, M. M., Azad, W. A., Moniruzzaman, M., & Shilpi, L. M. (2002). Swinging Bangladesh: Not very promising.
Shamsuddoha, M. (n. d.). Electronic Banking in Bangladesh. Retrieved 2012, from
Singer, D., Ross, D., & Avery, A. (n. d.). The Evolution of Online Banking.
Yaghoub, N.-M. i., & bahmani, E. (2010, September 9). Factors Affecting the Adoption of Online Banking: An Integration of Technology Acceptance Model and Theory of. International Journal of Business and Management, pp. 159-165.
FDIC, Quarterly (2015). Volume 9, No.1, pp 37-51.
Science Publishing Group
1 Rockefeller Plaza,
10th and 11th Floors,
New York, NY 10020
Tel: (001)347-983-5186