Citizens Bank partners with Nec Pay to facilitate remittances from Europe

Citizens Bank PLC has signed an agreement with Nec Pay Limited, a Cyprus-based electronic money company, to facilitate inward remittance payments from European countries, further expanding the bank’s international remittance network and strengthening services for Bangladeshi expatriates and their families.

Alamgir Hossain, managing director of the bank, and Ikram Farazy, chairman of Nec Group and Nec Pay Limited, signed the agreement at a ceremony held at the bank’s head office in Dhaka recently, according to a press release.

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Under the agreement, Citizens Bank PLC will disburse inward remittances received through Nec Pay Limited from Cyprus and other European countries through its branches and sub-branches.

The partnership will strengthen the bank’s international remittance network and provide convenient, secure and efficient remittance services to Bangladeshi expatriates and their beneficiaries, the release added.

Md Mostafizur Rahman and Md Abdul Latif, deputy managing directors of the bank; Mohammad Saiful Islam, chief financial officer; Md Mazibur Rahman, executive vice-president; Bijoy Chandra Das, head of SMR; and Samsul Islam Khan, head of the remittance department, attended the programme. Mahela Ishat Farazy, director of Nec Group, and Md Osman Goni, country manager of Nec Pay Limited, along with other officials from both organisations, were also present at the signing ceremony.