NRBC Bank, bKash team up to expedite remittance disbursement

NRBC Bank PLC has signed a memorandum of understanding (MoU) with bKash Limited to facilitate the easy, fast, secure and instant distribution of remittances sent by Bangladeshi expatriates working across different countries.

Md Touhidul Alam Khan, managing director and CEO of the bank, and Ali Ahmmed, chief commercial officer of the mobile financial service provider, signed the MoU at the bank’s head office in Dhaka recently, according to a press release.

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Speaking at the event, Touhidul said, “The use of technology has made the payment ecosystem significantly easier and more secure.” “This partnership between NRBC Bank and bKash will encourage expatriate Bangladeshis to send remittances through formal channels and ensure their greater participation in the country’s institutional economy,” he added.

Under the agreement, expatriates can send remittances to a relative’s bKash account instantly through NRBC Bank PLC. As a result, remittance recipients will be able to use the money more conveniently and appropriately.

People will be able to receive small-ticket remittances conveniently through formal banking channels, contributing significantly to the country’s broader financial inclusion.

Mohammad Abdul Qaium Khan, deputy managing director and chief operating officer of the bank; Md Shaheen Howlader, deputy managing director and chief business officer; Hasnat Reza Mohibbul Alam, head of the international division; Rasedul Islam, chief financial officer; Md Razidul Islam, head of ICT operations division; and Kazi Zunaid Zaman, head of treasury division, attended the event.

Sayed Shaikh Ibna Jilany, vice-president of remittance, financial services, commercial, at the MFS provider; Shouvik Ghosh, vice-president of banking partnership, financial services, commercial; and Tanvir Mahmud, manager of remittances, financial services, commercial, along with senior officials from both organisations, were also present.