Brac Bank has collaborated with two tech-savvy companies in Japan and South Korea to provide remittance services for Bangladeshi expatriates working in these two countries.
These expatriates will now be able to remit money to Brac Bank accounts in a hassle free manner through these companies, said a media statement on Thursday.
The Japanese partner of Brac Bank is N&P Japan Co Ltd, known better as QS Remit in the APAC region, for its remittance option in Japan. The company is currently remitting money to more than 15 countries with branches in Japan and South Korea.
In South Korea, the Bangladeshi Bank has partnered with E9 Pay Co Ltd. The South Korean company has collaborations with several banks for facilitating remittance service to 21 countries. BRAC Bank is their first remitting partner in Bangladesh.
Md Mahiul Islam, head of retail banking at Brac Bank said, "Around 60,000 Bangladeshi citizens are now working in Japan and South Korea. Through this initiative, these expatriates will get the opportunity of real-time digital payment solutions for sending remittance to their beloved ones in Bangladesh."
The remittance receivers in Bangladesh can further collect the remitted money from Brac Bank's country-wide branches, selected SME unit offices, agent banking outlets, and bkash wallet, the media statement read.