Standard Chartered, the largest foreign bank in Bangladesh, has announced the closure of its Kawran Bazar branch in Dhaka city effective from 2 July 2023. The decision is part of the bank’s business strategy to promote cashless transactions. Customers have been notified that they can access nearby branches at Pan Pacific Sonargaon and Dhanmondi.
The bank has also removed its ATM booths outside branches to discourage cash transactions. However, clients will still have access to 10,000 ATMs of any bank with a Visa electronic payments network for a minimal fee of BDT 15 per transaction. Standard Chartered Bangladesh aims to encourage customers to make digital transactions through their mobile app or Internet banking platform, aligning with the national vision of becoming a cashless society by 2027. Despite the closure, the bank remains committed to Bangladesh, maintaining a presence in various cities across the country.
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