2013-01-23 14:06:08 - Bangladeshi expats can now send money to their dear ones’ bank accounts in Bangladesh in real time using FLASHremit, from UAE Exchange. Both sender and receiver get an SMS each, the moment account is credited.
Citizens of Bangladesh, settled outside the country, can now send money to bank account in Bangladesh, real time. The path-breaking instant account credit service ‘FLASHremit’, designed by the leading global remittance & foreign exchange brand, UAE Exchange, has been introduced in Bangladesh as well, in partnership with BRAC Bank, one of the most technologically advanced banks. This new value addition from UAE Exchange takes bank transfers to the next level.
Speaking on the occasion, Mr. Promoth Manghat, Vice President – Global Operations,
UAE Exchange, said, “UAE Exchange has always had a special place for the Bangladeshi community. We have brought a wide range of services for the convenience of this patriotic community. We shared their aspirations and have been their trusted money
transfer partner since 1980. Our new offering, FLASHremit, only goes to show how much we think for our customers. Sharing our vision for Bangladeshis is BRAC Bank, our valued partner, with whom we share a very long and strong relationship. Our coming together for FLASHremit is yet another step towards strengthening this partnership, while bringing value to customers.”
Mr. Md. Shaheen Iqbal, Head of Treasury & FI and Probashi Banking of BRAC Bank Limited said, “We are happy to join hands with UAE Exchange yet again for FLASHremit. The fact that the beneficiaries of the remittance can now receive money instantly, in their bank accounts, is a great value addition. UAE Exchange and BRAC Bank bring the same rich values, which make life easier for the customers, bringing them peace of mind. I am sure the new dimension to our long relationship will add value to our customers.”
Currently FLASHremit serves expatriates from India, Philippines, Indonesia, Sri Lanka, Pakistan and Nepal through partnerships with major banks in these countries. Now Bangladesh too has joined the ever-growing list.
The event announcing the launch was attended by senior officials of UAE Exchange, BRAC Bank, special invitees and the Media.
About UAE Exchange
UAE Exchange, the leading global remittance and foreign exchange brand, was established in 1980. In over three decades, UAE Exchange has built a formidable presence in 30 countries with over 650 direct offices, emerging into the largest globally networked brand in its class. Correspondent banking relationship with over 150 global banks fortifies its strength. The global money transferrer offers a range of services, which addresses multiple financial requirements including remittance, foreign exchange, bill payments and more, thus growing into a financial supermarket. Over 8000 professionals from over 40 nationalities strive to achieve excellence and bring delight to over 4 million customers, worldwide. This penchant for quality has won the ISO certified brand many global awards for quality & business excellence, earning the trust of customers, partners and regulators, thus emerging into the World’s Trusted Money Transferrer.
About BRAC Bank
BRAC Bank Limited is a full service scheduled commercial bank that started its operations in July 2001. Right from inception the bank has been moving onward with perseverance and at the same time being sensitive to changes in the external environment, while competing strongly in all the market segments where it serves.
It works with a commitment to provide international standard quality service to its clients through full time services offered online. BRAC Bank Limited, with 50% institutional shareholdings by BRAC, International Finance Corporation (IFC) and Shorecap International, operates under "three P" agenda - Planet, People, Profit as its fundamental guiding principle. BRAC Bank, along with thirteen of the world’s leading sustainable banks, is also a member of Global Alliance for Banking on Values (GABV). GABV is engaged in building a viable future for the financial industry.
In July 2011, BRAC Bank launched - bKash Limited, a joint venture between BRAC Bank Limited, Bangladesh, and Money in Motion LLC, USA, with the objective of bringing unbanked mass people under formal banking coverage. bKash is using a fully encrypted VISA technology platform for transactions over mobile phones. From January 2013, remittance disbursement in bKash wallet has also been introduced as a new mode of remittance payment in Bangladesh.
For a private sector bank, BRAC Bank has the largest real-time online network with 154 outlets and more than 293 ATMs and 429 SME Unit Offices. Additionally an agent network of 499 BRAC Field Offices (BDP) and over 30,000 bKash agents, make it the largest remittance distribution network of its kind.