Mobile app launched to send remittance from Malaysia
The "City Remit" mobile app has been launched in Malaysia to make it easier for expatriate Bangladeshis to send remittance via a legal route.
Malaysia's CBL Money Transfer, a subsidiary of City Bank Limited of Bangladesh, has launched a cross-borderbanking remittance channel app.
On the occasion of the inauguration, the institution has announced a 2% incentive on remittances for the first 3 months, adding to the government's 2.5% incentive.
As such expatriates sending remittance via the app will enjoy an incentive of total 4.5% for the first three months following inauguration.
Bangladesh High Commissioner to Malaysia Golam Sarwar spoke at the "Bangladesh Remittance Meet-up 2022" ceremony held in the capital Kuala Lumpur on Sunday (October 16, 2022). Aziz Al Kaiser, chairman of City Bank Limited and CBL Money Transfer, inaugurated the mobile app.
Former Foreign Secretary of Bangladesh and Director of CBL Money Transfer of Malaysia Faruk Sobhan, Managing Director of City Bank Masroor Arefin, Director of CBL Money Transfer Dato Gurcharan Singh, and CEO Saidur Rahman Farazi, Counsellor (Consular) of Bangladesh Embassy GM Russel Rana, Managing Director and CEO of Standard Chartered Bank of Malaysia Abrar A Anwar, and expatriate Bangladeshis from different classes and professions were present at the programme.
Bangladesh high commissioner referring to the contribution of the money transfer agencies in sending remittances legally, urged them to continue their cooperation and efforts.
He also urged the expatriate Bangladeshis living in Malaysia to send remittances through legal channels considering the global economic context.
The high commissioner called upon the financial institutions, including other money transfers, to come forward to motivate the expatriates through various incentives along with mobile apps to make sending remittances easier and more accessible.
Aziz Al Kaiser, chairman of City Bank, said, "City Bank and CBL Money Transfer have taken various steps besides mobile apps to encourage expatriate Bangladeshis to send remittances through legal channels.
Announcing the incentives on the occasion, he said that the first phase will be implemented for three months from October 23 and its deadline may be extended further step by step.
Through the City Remit mobile app, any expatriate customer will be able to send money to the country instantly and safely through cash pickup, account transfer and mobile wallet from their Malaysian bank account.