An agreement has been signed between the postal department’s mobile financial services Cash and Rupali Bank to make the remittances sent by the expatriates to the country faster and easier.
An agreement in this regard was signed at the head office of Rupali Bank in the capital’s Motijheel on Tuesday. Bangladesh Bank appointed administrator Md. Mutasim Billah and Rupali Bank’s managing director Kazi Md. Wahidul Islam.
Under this agreement, Bangladeshis residing abroad will be able to send remittances to Rupali Bank through the International Exchange House, Money Transfer Operator (MTO) or Bank. The cash will be delivered directly to the mobile wallets of the beneficiaries on behalf of Rupali Bank. As a result, beneficiaries from anywhere in the country will be able to receive and use remittances for 24 hours.
To increase the flow of remittances in the country and encourage expatriate Bangladeshis to send money to the formal channels, cash has been taking various initiatives on a regular basis. The organization has been conducting various awareness and reward-based campaigns for the expatriates and their families in addition to ensuring additional benefits of receiving remittances. Recently, a campaign titled ‘Los Not Mana Haar’ has also given the opportunity for the family members receiving remittances through cash.
Anwar Ullah, associate administrator of the company, Mohammad Shaheen Sarwar Bhuiyan, chief commercial officer of the company, and Md. Senior officials of the institute, including Ahsanul Haque Bashar. Rupali Bank Deputy Managing Director Tahmina Akhtar, Deputy Managing Director Hasan Tanvir, Deputy Managing Director Harunur Rashid, Company Secretary and General Manager Mohammad Shahedur Rahman, General Manager Mohammad Shahjahan Chowdhury, Chief Information Technology Officer Md. Abul Hasan, head of the remittance department AKM Zakir Hossain and other senior officials of the bank.
The cash administrator at the event. Mutasim Billah said, “Every penny of remittances sent to the expatriates is very important for the country’s economy. With this partnership with Rupali Bank, the beneficiaries will be able to receive remittances directly in cash wallets, faster, safe and hassle-free. At the same time, you can easily use this money through a wide cash network spread in any part of the country or cashout at the lowest cost if necessary. This initiative will increase the flow of remittances in the legitimate way and further strengthen the country’s digital financial inclusion.”
Rupali Bank managing director Kazi Md. Wahidul Islam said, “As one of the largest state-owned banks in the country, we always attach great importance to the hard-earned remittances, safe and faster of the expatriates to reach the beneficiaries. The agreement with cash will make it easier to reach remittances in remote areas of the country. We believe that this initiative will increase the flow of remittances in a legal way as well as ensure better service to customers.”
Recently, ‘Bangla QR’ Payment Service and National Payment Switch Bangladesh (NPSB) facility has been launched in Nagas. As a result, about ten lakh Bangla QR merchants in the country are now being able to make cashless payments using the cash app. At the same time, the facility of receiving money from any bank account or mobile financial service (MFS) account immediately in cash and sending money from cash to a bank or other MFS account has also been added. As a result, family members who have remittances from abroad will be able to easily transfer it to the bank after receiving the money in the cash wallet or using Bangla QR purchases, electricity, gas and water bills, payment of school and college fees to the children, and the daily digital transactions will be more fast, safe and easy.