Standard Chartered partners with bKash to launch Straight2Bank Wallet Payments in Bangladesh

March 16, 2015

Standard Chartered Bank Bangladesh has partnered with bKash, a subsidiary of BRAC Bank to launch Straight2Bank Wallet in Bangladesh. With the introduction of the platform, Standard Chartered’s corporate clients in Bangladesh can now make instant, cashless payments to banked and unbanked individuals via the Straight2Bank channel. Beneficiaries will receive the funds electronically in their bKash mobile wallets.

Straight2Bank Wallet replaces onerous and risk-prone cash payments, offering an efficient and secure digital payment scheme for Standard Chartered’s corporate clients. Clients and their beneficiaries also stand to benefit from improved cash flow and visibility with certainty in payment date.

At the launch ceremony, Hussain Shirazie, MD & Head of Transaction Banking of Standard Chartered Bangladesh commented, “We are privileged to work with bKash in launching Straight2Bank Wallet – furthering financial inclusion in Bangladesh and making access to banking services effortless for our corporate clients and their beneficiaries. This initiative is a testament to our continued commitment to Bangladesh, and reiterates our brand promise of being ‘Here for good’.”

Mr. Kamal Quadir, CEO of bKash Limited said “We are happy to partner with Standard Chartered Bank to allow their corporate customers to benefit from bKash’s vast agent network and customised disbursement solution. This generates broader reach for both Standard Chartered and bKash.”

Straight2Bank Wallet is currently also available in Kenya, Nigeria, Zambia, Tanzania, Pakistan and the Philippines. Standard Chartered will continue to expand its offering to other countries across its footprint of Asia, Africa and the Middle East.