BRAC bank has partnered with 5 new exchange companies to channel wage earners’ remittance through its country-wide network, said a press release.
The new remittance partners are KL Remit Exchange SDN BHD (Malaysia), CBL Money Transfer (Malaysia), Crown Agents Bank (UK), Hamdan Exchange LLC (Oman) and Global Money Exchange Company (Oman).
The release said, earlier, the bank also obtained permission from Bangladesh Bank as per the regulatory guideline.
Head of retail banking of BRAC bank Mahiul Islam said, ” BRAC Bank is committed to enhancing our remittance ecosystem. With the new partners, we believe that the Bangladeshi diaspora will be able to send wage remittance at their comfort and convenience.”
The release mentioned that as part of its digital transformation, BRAC bank has recently partnered with Ripple which is a rapidly growing global network of 350+ financial institutions that enjoy plug-and-play facilities to automate payments between each other.
