Business Communication in Financial Institutions 5th BPE: Short Notes
(a) Bangla QR
Bangla QR is a standardized and interoperable QR code payment system introduced by Bangladesh Bank. It enables customers to make digital payments by scanning a single QR code.
The payment can be made through any participating bank or mobile financial service (MFS) app.
The main feature of Bangla QR is interoperability. Merchants do not need separate QR codes for different payment providers.
It makes payments faster, safer, and more convenient. It also supports the goal of a cashless and digitally inclusive economy.
Bangla QR promotes digital banking and financial inclusion in Bangladesh.
Its implementation required close coordination among banks, MFS providers, merchants, and Bangladesh Bank.
It is an important step toward a modern and efficient payment system.
(b) ChatGPT
ChatGPT is an artificial intelligence (AI) chatbot developed by OpenAI. It uses large language model (LLM) technology to understand and generate human-like text.
It can answer questions, write reports, summarize documents, translate languages, and perform many other tasks.
Businesses use ChatGPT to improve communication and productivity. It helps prepare emails, meeting summaries, marketing content, and customer support.
In banking, AI chatbots assist customers by answering routine questions and providing basic banking information.
ChatGPT also has some limitations. It may produce inaccurate information or raise privacy concerns if sensitive data is shared.
Therefore, AI-generated content should always be reviewed before it is used for official business communication.
(c) Global Village
The term Global Village was introduced by Marshall McLuhan. It describes a world where modern communication technology connects people across the globe.
The internet, social media, and digital communication have made global communication fast and easy.
The global village has transformed business communication. Companies can communicate instantly with customers, suppliers, and employees in different countries.
It has supported international trade, remote work, and global business operations.
For banks, the global village has increased international banking activities. It requires effective communication with foreign clients, regulators, and business partners.
Banking professionals must also understand different cultures and communication practices.
(d) Plagiarism
Plagiarism means using another person’s words, ideas, or creative work without giving proper credit.
It is an unethical form of communication. It may also violate copyright laws and create legal problems.
Plagiarism can occur in academic, professional, and business writing. It includes copying reports, research, marketing materials, or another employee’s work without acknowledgment.
Such practices damage honesty and professional credibility.
Organizations should establish clear ethical standards to prevent plagiarism. Employees should respect intellectual property and always acknowledge the source.
Honest and original communication helps build trust and professionalism.
(e) ESDD
Environmental and Social Due Diligence (ESDD) is a process used by banks to identify and assess environmental and social risks before approving loans.
It ensures that financed projects do not cause serious harm to people or the environment. ESDD examines issues such as pollution, labour rights, community impact, and workplace safety.
Bangladesh Bank has introduced ESDD guidelines for banks and financial institutions. Projects are classified according to their environmental and social risk levels.
Banks then apply suitable due diligence measures before making lending decisions.
ESDD supports responsible and sustainable banking. It requires proper documentation and clear communication between banks, borrowers, and regulators.
It also helps banks reduce risks and promote sustainable development.
(f) Blockchain Technology
Blockchain is a decentralized digital ledger that records transactions securely across many computers.
Information is stored in blocks that are linked together to form a chain. This makes the system transparent, secure, and difficult to alter.
Blockchain has many applications in banking and finance. It supports faster cross-border payments, trade finance, and digital transactions.
It is also the technology behind cryptocurrencies and smart contracts.
Although blockchain offers many benefits, it also has some challenges. These include regulatory issues, scalability concerns, and the misuse of cryptocurrencies for illegal activities.
As the technology develops, blockchain is expected to play an important role in the future of banking.
