BRAC Bank PLC has partnered with JP Morgan Chase, the largest bank in the USA, to facilitate inward and outward remittances.
The facility offered by JP Morgan, named Xpedite Select Receipt, enables customers to receive remittances in 40 different currencies in the most convenient way. It is a bank-to-bank process to receive money to your BRAC Bank’ account in Bangladesh. An inauguration ceremony between BRAC Bank and JP Morgan was held at BRAC Bank’s Dhaka head office on February 28, 2024. Earlier, BRAC Bank also enrolled in JP Morgan Xpedite Select Payments, which offers outward payments in 120 currencies across the globe.
Through this secured and cross-border payment facility, BRAC Bank PLC will offer a fast and smooth service to bring remittance to the beneficiary’s doorstep. In this current economic situation, this inward remittance facility will significantly increase the country’s FX flow.
Meheriar M. Hasan, Chairperson; and Md. Shaheen Iqbal, Deputy Managing Director and Head of Treasury & FI of BRAC Bank, and other senior officials, were present. Kiat Seng Lim, Managing Director & Global Head of Financial Institutions Group (FIG) Sales for Payments; Shibu Thomas, Executive Director & Head of APAC Product Solutions Specialist; and Sazzad Anam, Executive Director and Head of Bangladesh Office at JP Morgan Chase Bank; were also attended on the ceremony.
