United Commercial Bank Ltd on Saturday launched mobile-based financial service styled ‘UCash,’ eying to expand its innovative banking service to unbanked population across the country.

With the launch of UCash, officials of the bank said, they have come with a set of innovative ideas, including profits on deposits, to compete in a “mature” market.

“We have always been introducing some demand-driven and market-driven banking services and launching of UCash service is the continuation of that effort,” said MA Hashem, UCB Chairman, who was the chief guest at the launching ceremony.

To ensure smooth, prompt and uninterrupted service across the country, Ucash has already appointed over 10,000 agents across the country to make available the new financial service, UCB officials said.

Initially the service of UCash will be available through ROBI and Airtel. It will be accessible through all the mobile networks very soon, they added.

UCash is currently providing mobile financial service facilities like money transfer, purchasing and money deposit.

The key feature of UCash is giving interest on deposits for the first time through mobile financial service. It would be a special one, as people will get interest on the money deposited by UCash service from the very first day, officials noted.

Among others, Vice-Chairman of UCB Sharif Zahir, Chairman of Executive Committee, Saifuzzaman Chowdhury, Chairman of Audit Committee Lt Gen (rtd) ATM Zahirul Alam, Directors MA Sabur, Md Jahangir Alam Khan and Md Tanvir Khan, and Managing Director Muhammed Ali, spoke on the occasion.

News:Daily Sun/24-Nov-2013