Leading with innovation, grounded in trust and value

Md. Ahsan-uz Zaman, Managing Director & CEO, Midland Bank

The Daily Star (TDS): What is the current state and trend of bank deposits in the country?

Md. Ahsan-uz Zaman (MAZ): Bank deposits in Bangladesh have maintained a steady upward trend, signifying growing public confidence in the banking sector despite economic headwinds. As of April 2025, total deposits in scheduled banks reached BDT 18.20 trillion, reflecting an 8.21% increase year-on-year and a slight monthly rise of 0.11%, according to data from Bangladesh Bank. This growth is largely driven by time deposits, which rose by 9.01%, as more customers opt for secure, long-term savings avenues.

Demand deposits also grew by nearly 2%, suggesting a gradual shift of idle funds into formal banking channels. However, with the bank deposits-to-GDP ratio at around 41%, there is still ample room for expansion, especially when compared to global benchmarks.

Digital transformation, customer-centric deposit schemes, and enhanced service delivery have contributed to this positive trend. We believe that trust, transparency, and technology will continue to shape the deposit landscape.

TDS: What major deposit schemes does your bank currently offer, particularly those tailored to specific customer segments?

MAZ: We offer a wide range of both conventional and Shariah-compliant deposit products, each developed to serve different life stages, financial goals, and values.

For students, we have MDB School Saver and MDB College Saver to build savings habits early. Our MDB Probashi Savings is designed for expatriates, while MDB Sathi caters exclusively to women. We also support rural financial inclusion through MDB RMG Star Savings, focused on garments sector workers.

To help customers plan long-term, we offer attractive schemes such as MDB Double Benefit, MDB Kotipoti, Millionaire Savings Scheme, and the flexible MDB DPS, allowing monthly savings from BDT 250 up to BDT 5 lakh over a term of 3 months to 20 years. Institutions and NGOs can benefit from MDB Sthaee, a reliable savings product tailored for them.

On the digital front, customers can open and manage accounts like MDB Digital Savings, Digital FDR, MDB Digital DPS, and Shariah-based options such as the Saalam Digital Hajj Savings Scheme—all from the comfort of their home via midland online. Through such segmentation, we aim to make savings personal, inclusive, and convenient.

TDS: What innovations has your bank introduced in terms of technology, payments, and security to benefit depositors?

MAZ: Innovation is central to how we build trust and empower customers at Midland Bank. Our digital platform, midland online, has become a comprehensive financial hub, offering services like account opening, fund transfers, utility and card bill payments, mobile top-ups, government challan payments, and even cheque book requests.

Depositors benefit from additional features such as a 0.25% extra profit when opening Digital FDRs or Family Support Schemes online. They can also enjoy QR code-based merchant payments, card-less cash withdrawals, and automated tax certificate submissions.

To serve corporate clients, we've launched Midland Cash Management (MCM), a virtual banking solution offering real-time interbank transfers (BEFTN, RTGS), transaction approval workflows, and detailed account insights. This eliminates the need for cheques and physical visits, streamlining operations for businesses.

TDS: What are your bank's future plans for developing new deposit schemes and enhancing operational modes for depositors?

MAZ: Our focus at Midland Bank is to continuously evolve with customer expectations. We are actively working to introduce new deposit schemes and enhance operational efficiency to better serve our valued customers. Our future plans include developing purpose-driven savings products tailored to specific life goals.

We are also set to introduce the MDB Smart University Saver Account for university students, featuring tools for budgeting, goal-based savings, and reward-linked transactions to encourage financial discipline from a young age. As part of our Bancassurance strategy, we're developing deposit products bundled with insurance coverage, offering added financial protection for our customers.

To promote broader access, we will continue enhancing midland online, making it even more user-friendly and service-rich. Through this platform, customers will have 24/7 access to account management, deposit encashment, digital loans, fund transfers, and payment services.

We aim to bring more unbanked and underserved communities into the fold through digital accounts, assisted onboarding, and community training programmes.

TDS: What role do you believe the government should play in strengthening public trust and ensuring the safety of deposits in the banking sector?

MAZ: Public trust is the foundation of a strong and resilient banking sector, and the government plays a central role in upholding that trust. First, there must be a strong regulatory framework ensuring sound banking practices, including updated rules on liquidity, capital adequacy, and risk governance. Regulatory bodies like Bangladesh Bank must maintain independent and proactive supervision, empowered to take swift corrective actions where needed.

Equally important is the Deposit Insurance Scheme, which should be expanded and strengthened to protect small depositors and reduce the fear of loss. Transparent reporting and disclosures by banks should be mandated to help the public assess the financial health of institutions confidently.

To support the Cashless Bangladesh vision, the government must invest in digital infrastructure, especially in rural areas, and lead nationwide financial literacy campaigns.