r individual.
There is a stronger need for ôone-stopö service.
A growing desire for high-tech as well as high-touch.
It is therefore clearly evident that banks are forced to reformulate their operating procedures, policies and processes to better support their customer base. HSBC has responded to the above challenges as exemplified by the recently launched services provided to customers in Bangladesh (ôHSBC launches Bangladesh International,ö 2002).
It is interesting to note that HSBC has a significant presence in countries with large Bangladeshi expatriate communities including the United Kingdom, the Middle East, Canada and the United States. It is believed that the approach taken by Bangladesh International will boost foreign currency inflows and encourage expatriate Bangladeshi to keep their foreign currency savings at home.
With this approach, HSBC has provided a range of banking services for non-resident Bangladeshis (as well as foreign currency service for resident Bangladeshi) that include competitive interest rates on foreign currency deposits held with HSBC Bangladesh, an ATM card which will enable non-resident Bangladeshis (NRBs) and resident foreign currency account holders to withdraw money through any one of HSBC's nine (9) ATMs in Bangladesh as resident currency (Taka) or foreign currency from any of more than 500,000 ATMs worldwide.
This newly launched service also enables expatriate Bangladeshi to retain their savings in an interest earning US dollar, pound sterling or euro deposit account. Other service products offered to Bangladeshis living abroad include purchase of wage earner development bonds (WEDB), a Taka overdraft facility up to 80 per cent of the value of the foreign currency time deposits and 90 per cent of the value of Taka time deposits and WEDB (ôHSBC launches Bangladesh International,ö 2002).
Different cultures view the specifics of their banking needs differently as co...