Southeast Bank and bKash Sign an Agreement on Remittance Disbursement Service

December 24, 2012 Dhaka, Bangladesh

Southeast Bank Limited (SEBL) and bKash Limited recently signed an agreement on Remittance Disbursement Service at SEBL’s Head Office to facilitate beneficiaries (receivers) of foreign remittance to receive funds directly on their mobile phones in Bangladesh.

Mr. Mahbubul Alam, Managing Director of Southeast Bank and Mr. Kamal Quadir, CEO of bKash Limited signed the contract on behalf of their respective companies.

This service will facilitate a more convenient mode of receiving remittance from abroad. As a result SEBL will now be better equipped to reach remittance beneficiaries in the remotest parts of the country. Besides safe and faster delivery, receivers will also be largely benefited because money will be received directly on their bKash registered mobile phones. The fund can then be withdrawn fully or partially from any nearby bKash Agent, even after banking hours or on bank holidays. Currently bKash has more than 28,000 Agents across the country. This marks a milestone in SEBL’s commitment of doing inclusive banking and channeling more remittances though the formal banking network.

Officials of both organizations, in the signing ceremony, stated that this collaborative endeavor will have a significant impact on the country’s foreign currency reserve whose importance to the national economy can hardly be over-emphasized.

Besides print and electronic media personnel, Mr Zakir Ahmed Khan, Advisor, Southeast Bank; Mr Murshid Kuli Khan, Senior Consultant, Southeast Bank; Mr Mohammad Gofran, Additional Managing Director, Southeast Bank; Mr Syed Mahbubur Rahman, Managing Director & CEO, BRAC Bank; Mr Mohammad Azmal Huda, Head of Business Solutions & Operations, bKash; Ms Sania Mahmood, Head of Marketing, bKash; Mr Rezaul Hossain, Head of Sales & Distribution, bKash; Mr Moinuddin Rahgir, Head of Finance, bKash; Mr Tanvir Quader, Manager-Legal, bKash; and other senior officials of both organizations were present in the signing ceremony.