An empirical analysis of the financial consumer’s interest protection activities by Central Bank: Bangladesh perspectirve | |
| Author | Rahman, Md. Rezwanur |
| Subject(s) | Bangladesh Bank--Customer services Interest--Bangladesh |
| Note | A project submitted in partial fulfillment of the requirements for the degree of Professional Master in Banking and Finance, School of Management |
| Publisher | Asian Institute of Technology |
| Abstract | Financial deregulation in the banking sector started with a view to promote competition and better customer services with reasonable prices. In Bangladesh, financial deregulation started in 2003. Since then, central bank only supervises banks and FI’s in lieu of controlling them. But whether the consumers are getting banking products at a reasonable rate or treated fairly is the main concern. The problem in the banking sector is that the banks are highly regulated. Central banks have to regulate them for the safety of the depositor. Besides, bank failures inflict domino effect on the whole economy. So, this entry barrier in turn, has curtailed true competition and free play of market forces. For this reason the consumers are not getting the benefit of deregulation of interest rate and service charges of banks. As banks operate in the monopolistic market for entry barrier, they are not much concern about the fair treatment of the consumers in a transparent and non-discriminatory manner. So, it is the utmost duty of the regulators i,e central bank to protect the interest of the consumers. With a view to protect the financial consumer’s interest, Bangladesh Bank set up a fully fledged department (FICSD) in 2011. Since the inception, FICSD is working vigorously and consumers are benefitted largely. Financial Consumers Interest Protection is a vast work. It also includes financial literacy and financial inclusion. So, there are some other areas where FICSD can concentrate to protect the consumer’s interest effectively. This research is expected to explore those areas and recommend those for FICSD to accelerate the consumer’s interest protection activities. |
| Year | 2015 |
| Type | Project |
| School | School of Management (SOM) |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Donyaprueth Krairit; |
| Examination Committee(s) | Wafler, Beat Hans;Venkatesh, Sundar; |