bKash sees 50 lakh remittance transfers through Pubali Bank in 10 months

Bangladeshi expatriates have sent remittances to their bKash accounts more than 50 lakh times in the last 10 months through Pubali Bank.

This hassle-free and secure service, provided by two of the country's leading financial institutions, has earned the trust of expatriates and their families. It also encourages the use of legal remittance channels, thereby strengthening Bangladesh's foreign currency reserves.

The country's leading mobile financial service provider, in association with Pubali Bank Limited, organised a programme at the bKash headquarters in Dhaka recently to celebrate this achievement.

Mohammad Ali, managing director and CEO of Pubali Bank PLC, and Kamal Quadir, chief executive officer of bKash Limited, inaugurated the programme, according to a press release.

They highlighted the significance of this joint service and pledged to make remittance transactions even easier and safer for users.

As a vital lifeline for the national economy, remittances from expatriates play a critical role in boosting foreign exchange reserves and supporting macroeconomic stability.

To support this, Pubali Bank and bKash have developed a robust ecosystem that enables expatriates to send money easily and securely.

Currently, expatriates from 33 countries can send remittances through 11 international money transfer operators (MTOs), which are settled instantly into recipients' bKash accounts via Pubali Bank.

Additionally, recipients receive a government incentive of Tk 25 per thousand and can conveniently cash out the remittance from nearby bKash agent points.

Families of expatriates can also use remittances to access a wide range of services through their bKash accounts, including payments for products and services, utility bills (gas, electricity, water), mobile recharge, educational and government fees, donations, insurance premiums, microfinance instalments, and more—all from the comfort of their homes.

Along with providing convenient, instant and secure remittance transfers, bKash has reduced cash-out fees.

Beneficiaries can now withdraw remitted funds at a minimal cost of Tk 7 per thousand from approximately 2,500 ATMs of 19 leading commercial banks.