The role of commercial banks in enhancing digital financial literacy, a case study of Dhaka Bank PLC

Abstract

The General Banking Department of Dhaka Bank PLC is an essential part of the bank's effort to improve its customers' financial literacy. The present report examines the ways the bank plays a role in the education process of its customers with regard to different financial instruments, banking services, and digital transactions. The department organizes personal interactions, workshops, and seminars as means of creating financial awareness and these activities, to a great extent, are responsible for customer's trust in banking products, customers' confidence in digital banking, and hence, the establishment of long-term banking relations. The research used a mixed-method research design that applied both secondary and primary data. The primary data were collected using a structured questionnaire survey of 23 clients of the bank, interviews with the general banking officers, informal discussions with supporting staff and personal observation of service delivery processes. To support and authenticate the findings, secondary data were collected using annual reports and official publications as well as other necessary documents of Dhaka Bank PLC. However, the department also faces several challenges in implementing effective customer education initiatives. Issues such as time limitations and customer reluctance to adopt digital banking often hinder the progress of these efforts. By developing structured financial education programs and adopting a strategic approach, Dhaka Bank PLC can further enhance its customers’ financial literacy ultimately benefiting both the customers and the bank in the long term.