Southeast Bank Launches Ten New Agent Banking Outlets

Southeast Bank PLC has formally inaugurated 10 new agent banking outlets under its “Shagotom” brand to extend essential financial services to unbanked populations across Bangladesh. The newly established outlets are strategically located in rural and semi-urban regions across seven districts: Tangail, Manikganj, Narsingdi, Dhaka, Moulvibazar, Cumilla, and Feni. According to an official press release issued by the financial institution, the primary objective of this expansion is to support national financial inclusion initiatives and ensure secure banking access is available throughout every corner of the country.

Digital Inauguration Ceremony

The formal operations of the 10 “Shagotom” agent banking outlets were launched virtually in a centralised digital ceremony. Abidur Rahman Chowdhury, the Additional Managing Director of Southeast Bank PLC, led the official proceedings and executed the virtual inauguration.

The online event was attended by senior executives from the bank’s corporate head office, respective heads of various conventional branches, and the individual proprietors or agents overseeing the 10 newly commissioned outlets. This collaborative virtual setup highlights the bank’s reliance on digital infrastructure to expand its operational footprint without requiring a physical administrative presence in every sub-district.

Provided Services and Operational Features

The “Shagotom” agent banking framework is engineered to deliver a comprehensive suite of modern, technology-driven financial products. These services cater to both conventional banking customers and those seeking Sharia-compliant solutions through the bank’s “Tijarah”-Islamic Banking wing.

The specific facilities made available to customers at these newly inaugurated rural and semi-urban outlets encompass the following banking activities:

• Account Management: Opening of standard savings and current accounts, alongside processing facilities for official chequebooks, debit cards, and credit cards.

• Transaction Services: In-ward and out-ward cash deposits and withdrawals, domestic fund transfers, and access to automated clearing networks including the Bangladesh Electronic Funds Transfer Network (BEFTN) and Real-Time Gross Settlement (RTGS) for cross-bank transfers.

• Capital Market & Remittance Access: Allocation and collection of inbound foreign remittances, as well as specialized Beneficiary Owner (BO) account opening and stock market share transaction facilities.

• Credit & Bills Management: Disbursement and processing of Micro, Medium, Agricultural (Krishi), and retail credit facilities integrated with insurance benefits, alongside the collection of loan instalments and utility bill payments.

• State & Automated Assistance: Facilitation of government social allowance disbursements and full access to standard internet banking portals.

Core Infrastructure Summary

To support continuous customer access outside regular operating hours, Southeast Bank PLC has integrated automated terminal systems into these locations. A brief structural overview of the operational parameters of this launch is detailed below:

Through the implementation of Cash Recycler ATMs at these agent banking sites, local customers can deposit and withdraw cash around the clock, reducing the dependency of rural populations on traditional, distant bank branches.