Expatriate Bangladeshis in Maldives can now send instant remittances from Commercial Bank of Maldives directly to their loved ones’ bKash accounts in the country. An agreement was recently signed between Commercial Bank of Ceylon PLC Bangladesh, Commercial Bank of Maldives and bKash to launch this service. As a result, the facility to send instant remittances in a safe and legal manner has become more widespread.
The service was inaugurated at the Commercial Bank of Ceylon PLC Bangladesh Head Office on Sunday with the launch of the ‘Bangla e-Remit’ platform. Bangladesh Bank Governor Abdur Rauf Talukder inaugurated this service from virtual presence. Rear Admiral SM Abul Kalam Azad, High Commissioner of Bangladesh posted in Maldives and Shiruzimath Sameer, High Commissioner of Maldives posted in Bangladesh were also present virtually at the time.
Commercial Bank of Ceylon PLC Group Managing Director Sanat Manatunga, Commercial Bank of Maldives Managing Director Dilan Rajapakse, Commercial Bank of Ceylon PLC Bangladesh Chief Executive Officer Najith Miwanage, bKash Limited Chief Executive Officer Kamal Kadir and other senior officials of the institutions were also present on the occasion.
Bangladesh Bank Governor Abdur Rauf Talukder expressed his views on the latest visit of Hon’ble Prime Minister to Maldives and the legitimate remittances from Maldives to Bangladesh. He also said, “Through this partnership, migrants can now easily send money to their loved ones in the country. I am glad to introduce this instant remittance transfer facility for Bangladeshi expats living in Maldives in a very short time through “Bangla e-Remit”. bKash is connecting millions of people through its largest distribution network in Bangladesh. I believe, this joint venture of the bank with the institution will benefit the entire industry. Bangladesh Bank’s supervision and assistance will continue to ensure that remittances are brought through legal channels.”
Bangladesh High Commissioner to Maldives Rear Admiral SM Abul Kalam Azad said, “We are working to create an easy system for our remittance warriors, so that they can send money to their loved ones without wasting precious time. I am sure, this new initiative will encourage our remittance warriors to send money the other way, through banking channels.”
Maldives High Commissioner to Bangladesh Ms. Shiruzimath Sameer said, “This is a significant progress for both countries. Along with the continuous efforts of the Bangladesh government, this joint initiative of the two banks and bKash deserves praise. Because, as a result, the process of sending money from expatriates will be much easier.”
It is to be noted that at the moment remittances of expatriates are coming to 6.5 crore bKash accounts from more than 90 countries of the world through 80 money transfer organizations (MTOs) settled in 13 commercial banks of the country.
Commercial Bank of Ceylon PLC Bangladesh is a reputed foreign bank which has been providing banking services in most of the embassies of Bangladesh. The bank has achieved credit rating “AAA” from CRISL for 12 consecutive years in 2022, based on 2021 financial report. Notable achievements include – “Best Foreign Bank in Bangladesh Award” by Global Economics Limited Magazine-UK & World Economic Magazine-UK, “Most Sustainable Bank in Bangladesh” Award by International Business Magazine-UAE, and “Most Sustainable Bank in Bangladesh” Award by Global Business Review Magazine-UAE. Best Corporate Bank Bangladesh” award and “Most Recommended Foreign Bank in Bangladesh” recognition by World Business Outlook-Singapore.