Sharmin Ahmed, Senior Vice President & Head of MSQD at Mutual Trust Bank PLC; leads innovative strategies in banking services. Her expertise fosters operational efficiency, driving the bank’s growth and solidifying its market presence.
Q. Can you share a bit about your journey in the banking sector and how you ascended to the position of Senior Vice President at Mutual Trust Bank?
Sharmin: My journey in the banking sector has been a blend of hard work, resilience, and a strong commitment to continuous learning. I began my career in Standard Chartered Bank, a global bank with a strong international presence which provided me exposure to high standards in banking, innovation, and customer management. In those early years, I focused on building a solid foundation in financial analytical skills that would become the cornerstone of my career.
As I progressed, I made it a priority to deepen my understanding of the industry’s evolving landscape, including shifts in regulations and the growing impact of digital technology. Over time, I took on increasingly challenging roles, each adding to my breadth of experience. I also made it a point to seek mentorship and take on leadership training programs, which helped me refine my management style and expand my network within the industry.
Gradually, I gained 15 years of experience from three of the most renowned banks in the industry in leading positions (SCB, EBL & Prime Bank). When I joined Mutual Trust Bank, I was drawn to the bank’s customer-focused values and forward-thinking approach. Through my role here, I’ve led various initiatives aimed at improving the quality of service which have directly contributed to our growth. The path to Senior Vice President & Head of Service Quality has been both challenging and rewarding, but what truly made a difference was a dedication to fostering a culture of excellence and teamwork. Today, as I lead my team, I aim to inspire and mentor others just as I was mentored because I firmly believe that empowering people is key to building a successful and sustainable organization.
Q. What motivated you to pursue a career in banking, and how has your role evolved over the years?
Sharmin: I was initially drawn to banking because of a deep interest in finance and how it impacts both individuals and businesses. Banking sits at the heart of economic activity, and I wanted to be part of an industry that not only fosters growth but also has a tangible impact on people’s lives and on the economy as a whole. Early on, the dynamic nature of banking appealed to me; the constant need for analysis, problem-solving, and strategic thinking provided a challenge that kept me engaged and motivated.
Today, in a more senior role, my motivation has expanded to include innovation and mentorship. I’m focused on driving initiatives that keep us competitive in a digital age, improving customer experience, and ensuring sustainable growth. Additionally, I find immense satisfaction in mentoring young professionals, sharing insights from my own journey, and hopefully inspiring the next generation of bankers. Ultimately, my career in banking has grown from a personal interest in finance to a passion for leadership and shaping a positive future for the industry.
Q. Could you highlight any pivotal moments or challenges that significantly shaped your career?
Sharmin: Several pivotal moments and challenges have shaped my journey in banking. As I started my career in the banking industry, I was faced with the notion that women cannot excel in sales/cannot do well in customer dealings. However, I managed to prove this myth wrong through my hardwork and dedication. I have not only broken this barrier but also received various awards for my sales expertise in my previous organizations.
Another defining moment was taking on my first leadership role was a turning point. I realized that people management is indeed a difficult job. Leadership isn’t just about making decisions but about empowering others and creating a collaborative environment. These challenges have deepened my understanding of the industry, strengthened my leadership skills, and continue to shape how I approach banking.
Q. As a senior leader, what are the key strategic priorities for Mutual Trust Bank, and how do you contribute to these goals?
Sharmin: As a senior leader at MTB, my key strategic priorities revolve around our mission, which is to aspire to be the most admired financial institution in the country, recognized as a dynamic, innovative and client-focused company. In today’s fast-evolving banking industry, staying competitive means enhancing the customer experience. We aim to better understand and anticipate our customers’ needs, delivering personalized and efficient services that set us apart in the market.
My role in these goals is multifaceted. I work closely with my team & Senior Management to develop and execute service enhancement strategies that align with our vision, and I ensure that we’re continuously innovating while maintaining operational resilience. Ultimately, my contributions are geared towards creating a sustainable future for MTB.
Q. What leadership style do you believe works best in the financial services sector, especially when managing teams during turbulent times?
Sharmin: In the financial service sector, especially during turbulent times, I believe that a balanced approach that combines transformational and empathetic leadership works best. Transformational leadership allows us to guide teams through change by inspiring them with a clear vision, setting high standards, and encouraging innovation. This is crucial in times of disruption, as it gives the team a sense of purpose and direction.
However, empathetic leadership is equally important because it emphasizes empathy and support. During turbulent times, people face heightened stress, and a leader’s role is to be there for their team, understanding their needs, providing reassurance, and helping them overcome obstacles. By putting people first, a leader can build trust and loyalty, which ultimately strengthens the team’s resilience and ability to perform under pressure.
In my experience, combining these styles—motivating the team toward a shared vision while being attuned to their individual challenges—has proven effective. I also believe in a successor plan. I want to pass down my leadership skills to others so that they can contribute to the organization to the fullest of their potential.
Q. How do you approach decision-making and risk management at such a high level in the banking industry?
Sharmin: First of all, I believe I have not reached that much of a high level yet, I am still on the journey through learning & working. My approach to decision-making and risk management is both structured and collaborative. I start by ensuring that decisions are data-driven. This means leveraging analytics and market research to gain insights into potential risks and opportunities. Understanding the numbers is crucial, but context is equally important—considering market conditions, regulatory landscapes, and customer sentiment.
When it comes to risk management, we have a strong Risk Management Division who are continuously working to identify & mitigate risks at the organizational level. Our job is to assist and support them, as & when required.
Ultimately, our goal is to balance risk and reward. We aim to pursue growth opportunities while maintaining a strong risk management framework that safeguards the bank’s assets and reputation.
Q. The banking industry is constantly evolving with digital transformation. How is Mutual Trust Bank adapting to the rise of fintech and digital banking solutions?
Sharmin: At Mutual Trust Bank, we recognize that digital transformation is not just a trend; it’s a fundamental shift in how we serve our customers and operate as a business. We are investing in our technology infrastructure to ensure we can deliver seamless digital experiences. This includes enhancing our online and mobile banking platforms to offer intuitive interfaces and a wide range of services that meet the evolving needs of our customers.
We prioritize understanding our customers’ needs through feedback and market research. By leveraging customer insights, we keep tailoring our digital offerings and try to ensure that they are relevant and impactful. By embracing these strategies, Mutual Trust Bank is positioning itself as a forward-thinking institution ready to thrive in the digital age while continuing to provide personalized and trusted banking services.
Q. How do you see the role of traditional banks changing with the growing popularity of mobile banking and online financial services?
Sharmin: To be honest, many of our traditional banks are still not digitally developed yet. Their growth towards digital transformation is very slow but I believe it is a must to sustain in the future. Traditional banks are gradually evolving from transactional entities to customer-centric financial advisors. With the rise of mobile banking and online services, they must focus on enhancing the customer experience through personalized solutions and seamless digital interfaces. Additionally, partnerships with fintech companies will become crucial for innovation and efficiency. As digital transactions increase, banks will also prioritize cybersecurity and trust to protect customer data. Ultimately, their role will shift towards providing holistic financial services while leveraging technology to meet modern consumer needs.
Q. Could you share any recent initiatives at Mutual Trust Bank aimed at enhancing customer experience and satisfaction?
Sharmin: Mutual Trust Bank (MTB) has recently launched several initiatives aimed at enhancing customer experience and satisfaction. Here are some notable efforts:
- Digital Banking Enhancements: MTB has made significant strides in digital banking, earning the title of “Best Digital Bank in Bangladesh” for 2024 from Euromoney. Key features of our digital transformation include the MTB Smart Banking App, which facilitates real-time fund transfers, bill payments, and has become known for its user-friendly interface and extensive integrations with various service providers.
- Customer-Centric Events: We are the only bank who are maintaining to arrange Customer Service Week in alignment with Global Celebration, which started in 2021. In celebration of this Week, MTB organizes activities and initiatives to engage customers and gather feedback, showcasing our commitment to improving customer interactions. We also engage our employees in this event to strengthen the bond with customers for the upcoming days.
- Innovative Features: The bank introduced the Cash-by-Code feature, enabling customers to withdraw money from ATMs without a physical card, and has also rolled out virtual debit and prepaid cards. These innovations aim to offer customers more flexibility and ease of access.
- Financial Inclusion Initiatives: MTB has expanded its agent banking network and partnered with fintech companies to provide digital nano loans. They launched services like the Torit Loan to reach underserved communities, facilitating access to finance for those who might not traditionally have banking options.
These initiatives reflect MTB’s commitment to innovation, customer satisfaction, and financial inclusion, positioning the bank as a leader in adapting to the evolving banking landscape in Bangladesh.
Q. As a successful woman in a leadership role, what advice do you have for women aspiring to similar positions in the financial sector?
Sharmin: I’m still on my journey on being successful, but from what I’ve learned so far, my advice to women aiming for leadership in finance is to embrace continuous learning and build a strong network of mentors and allies. Developing expertise in their niche and staying curious about trends can make a huge difference, especially in such a fast-paced industry.
According to studies, women’s representation in the banking workforce declines from the age of 32 & at entry level to 21% at middle management level, indicating that many women exit at this stage. Considering this, I would advise women who cannot step up the ladder due to marriage or pregnancy, to consider exploring flexible or part-time roles that keep them engaged in the field while allowing for more personal time. Many financial institutions today offer options for re-entry programs and skill-building resources, which can make it easier to return to a similar or even higher level when they are ready.
Staying connected with their network can also keep doors open. It is important to keep in touch with mentors, colleagues, and industry contacts, as these connections can provide opportunities and guidance when women are prepared to re-enter. Career paths today are increasingly nonlinear, and taking time for family doesn’t diminish professional capabilities or potential. It is important to balance between professional life and family to maintain a steady life growth.
Q. What challenges have you faced as a woman in banking, and how did you overcome them to rise to a leadership position?
Sharmin: I’ve encountered some challenges that are common for women in banking. One major hurdle has been overcoming unconscious biases and proving my capability in an industry where certain roles, especially sales or leadership, have traditionally been male-dominated. I’ve focused on building my expertise, letting my work speak for itself, and consistently delivering results to challenge these perceptions.
Another challenge has been finding balance; the banking sector can be demanding, and learning to set boundaries has been essential for long-term sustainability and growth. I’ve also sought out mentorship and support networks—learning from other women who have successfully navigated similar paths has been invaluable. These experiences have strengthened my resilience and inspired me to keep pushing forward, and I hope they’ll be stepping stones to my own leadership role in the future.
I believe there are other challenges which are common for women in banking such as inequitable hiring, inadequate professional development, sociocultural constraints, lack of fair evaluation, non-conductive work environment, etc. Among there, inequitable hiring (women not having the same opportunities as men of being hired) is most prominent and needs to be addressed by all concerned authorities.
Q. How important is diversity and inclusion in the financial sector, and what steps is Mutual Trust Bank taking to promote these values?
Sharmin: Diversity and inclusion are crucial in the financial sector, as they bring varied perspectives, drive innovation, and help banks better understand and serve diverse customer bases. A strong focus on these values can also enhance employee satisfaction, reduce turnover, and improve overall performance. Diverse teams are often more effective at risk management and problem-solving, which is especially valuable in a complex industry like finance.
Mutual Trust Bank (MTB) has taken steps to promote diversity and inclusion, though the broader financial sector is still catching up with global standards in this area. MTB has initiatives that focus on:
- Gender Diversity& Supporting Women Staff: MTB has a commitment to increasing the number of women in leadership and managerial roles. The bank has established gender-specific training programs and policies that support women in balancing career and family responsibilities. MTB has recently introduced a women’s platform named “Shreya” to empower and support women employees through services like harassment assistance & female employee assistance. This platform aims to ensure the mental & physical wellbeing of the women in the organization along with helping them to boost up their career growth through mentorship & recognition.
- Inclusive Hiring: The bank is working towards more inclusive hiring practices to bring in people from different backgrounds, including ethnic minorities, people with disabilities, and those from underrepresented regions within Bangladesh.
These efforts reflect MTB’s commitment to aligning with global diversity and inclusion standards, though continued progress is needed across the sector in Bangladesh to achieve fully integrated D&I practices.
Q. How do you foresee the future of banking in Bangladesh over the next five to ten years?
Sharmin: At present, banks are competing with each other on being more profit-oriented and digitally progressive. Very few banks emphasize on being customer-centric and putting customers’ interests first. In the current political situation, when banks are going through a volatile time, I believe being a customer-driven organization can tenfold the success and create a positive image in the market. For example, Singapore’s service-driven culture is renowned globally for its focus on quality, efficiency, and customer-centricity across industries. Rooted in values of professionalism, respect, and continuous improvement, this culture has been instrumental in Singapore’s reputation as a leading service hub, especially in finance, healthcare, hospitality, and public services. We can follow such an example for our future growth which can bring radical positive change over the next five to ten years.
Q. What new opportunities or trends do you believe will shape the banking industry, and how is Mutual Trust Bank preparing to meet those challenges?
Sharmin: “Phygital” banking—a blend of physical and digital services—is an emerging trend expected to shape the banking industry by combining in-branch experience with digital convenience. Mutual Trust Bank (MTB) is actively embracing this approach to address evolving customer needs and create a seamless, accessible experience across channels. Here’s how they are preparing:
Enhanced Digital Infrastructure: MTB is investing in robust digital platforms, including advanced mobile and online banking services, that provide 24/7 access to customers. This includes integrating artificial intelligence for customer support, predictive analytics for personalized banking, and instant digital payment options.
Omni-channel Experience: MTB is working to unify its physical and digital channels, ensuring customers have a consistent experience regardless of where or how they bank. By investing in technology that connects branch services, mobile banking, and online platforms, MTB aims to allow customers to start a transaction on one channel and complete it on another seamlessly.
Focus on Financial Inclusion: With a focus on expanding into rural areas, MTB is using digital services to reach the unbanked population, often leveraging mobile banking to offer financial access where physical branches may be less feasible. This includes deploying agent banking solutions, which allow local representatives to facilitate basic banking services.
Data-Driven Personalization: Using data analytics, MTB is preparing to offer more tailored services, such as customized loan products and investment advice, based on individual customer profiles. This not only enhances customer satisfaction but also helps the bank better meet financial needs efficiently.
Phygital banking will allow MTB to maintain a valuable human touch while also adapting to digital demands, positioning the bank to serve a broad range of customers and strengthen its competitive edge.
