SIBL wins Bangladesh Innovation Award-2022

Social Islami Bank Ltd (SIBL) won the Bangladesh Innovation Award-2022 in the category of "Best Innovation–Finance Innovation in Banks" by Bangladesh Innovation Conclave recently.

Zafar Alam, managing director of the bank, received the award from Salman F Rahman, private industry and investment adviser to the prime minister at Le Meridien in Dhaka, a press release said.

SIBL received this award for innovating "International Insta Remit" (money in minutes), an outward remittance product which makes money transfers easier and safer from Bangladesh to over 200 countries and territories through Western Union within Bangladesh Bank's purview.

International Insta Remit is a unique money transfer service comprising Insta Edu Remit (student file facility), Insta Family Remit (family remittance facility), and Insta Medi Remit (medical file facility).  

Abu Reza Md Yeahia, additional managing director of SIBL, and Md Akmal Hossain, executive vice-president, were present.