Simplify banking procedures
Recently, I went to a local NCB for a pay order. While I was waiting, a women came to the same officer to open a new account with duly completed application form (filled by someone else, signed by her) with introduction from another account holder. After checking the application form thoroughly the officer gave her 2 more forms (1) transaction profile (2) know your customer {KYC}-for filling. The woman, not educated enough, was baffled and requested the officer for help who bluntly refused. The woman then protested saying he could give these forms with the application form so that she could arrange to fill them up by her relative. Then, I offered to help her and while filling these forms, I understood that her brother had recently gone to Dubai and would send Tk 25000-30000 pm for family expense. I wonder, why could not this system be simplified for a small account opener by single statement that “transaction will not exceed (say) Tk. 7 lakh pm.” in the application form instead of filling 2 additional forms.
In this context, I am not so sure, how far these 2 forms are effective to stop or detect the funding of extremists or terrorists as evident from newspaper reports of confessions of Bangla Bhai and Abdur Rahman, or corrupt transactions by ex-ministers and politicians.
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