BRAC Bank expands global remittance network with new partners

BRAC Bank has bolstered its international remittance network through strategic partnerships with six prominent exchange houses in the UK, Canada, Italy, the UAE, Oman, and Qatar.

This significant development enhances the bank's ability to provide superior financial services to Bangladeshi expatriates, ensuring secure, efficient, and seamless money transfers, the bank said in a press release.

Expatriates can now transfer funds back home with greater ease via BRAC Bank's trusted digital remittance channels.

Several of the partners offer app-based, cashless transactions, facilitating a fully digital experience. Moreover, migrants can instantly remit funds to BRAC Bank accounts and access comprehensive online banking services through the bank's innovative digital banking app, "Astha".

The continued expansion of BRAC Bank's network improves connectivity for remittance recipients, facilitating financial interactions with expatriates across the Middle East, Southeast Asia, the Far East, the US, the UK, and Africa.

Selim RF Hussain, managing director and CEO of the bank, stated: "We are not merely facilitating remittance; we are transforming the experience. Our strategic partnerships make the process faster, more efficient, and economically accessible."

"Remittance is merely the beginning."

"We are providing a holistic financial ecosystem—from savings to investments—empowering migrants and their families to achieve financial inclusion and contribute meaningfully to national development," he added.

The bank's expansive network ensures that clients can conveniently withdraw cash at 189 branches, 74 sub-branches, and 1,114 agent banking outlets nationwide.

Additionally, expatriates can open accounts, including Probashi, non-resident foreign currency deposit, fixed deposit, deposition pension scheme, and NRB bond purchases, by emailing [email protected].

Foreign currency accounts can be effortlessly opened via eKYC, and the "Probashi Poribar" account provides life insurance, fixed interest rates, and monthly payouts.

The bank's offshore banking services also offer highly competitive fixed deposit interest rates.