WorldRemit expands service to boost remittance inflow | 2018-11-28

market Digest

WorldRemit expands service to boost remittance inflow

Business Desk

28 November, 2018 12:00 AM printer

WorldRemit, a digital money transfer service provider, has expanded its business in Bangladesh by joining hands with BRAC Bank and bKash aimed at increasing inflow of remittance into the country.

Through the new strategic partnership, WorldRemit is allowing its customers in over 50 countries to send money directly from their phones to 1.5 million BRAC Bank accounts in 186 BRAC branches for cash collection and up to 30 million bKash mobile money wallets in Bangladesh, said a press release.

WorldRemit on Tuesday signed the partnership agreement with BRAC Bank and bKash at a function at the BRAC Bank head office in the city. Chief Commercial Officer of the WorldRemit Tamer El-Emary, Chief Executive Officer of bKash Kamal Quadir and Managing Director and CEO of the BRAC Bank Limited Selim RF Hussain, among others, were present at the function. Tamer El-Emary said Bangladesh is an attractive place for the mobile money transfer business as around 7.5 million of its people are working abroad and they sent around US $15 billion remittance in 2017.