Expats Sent Remittance Over 5 Million Times to Loved Ones’ bKash via Pubali Bank

Bangladeshi expatriates have sent remittances to their loved ones’ bKash accounts more than five million times over the past ten months through Pubali Bank.

This secure and hassle-free service, offered by two of the country’s leading financial institutions, has gained the trust of expatriates and their families. It also promotes sending remittances through legal channels, thereby strengthening the nation’s foreign currency reserves.

A ceremony was recently held at bKash’s headquarters to celebrate this achievement. Pubali Bank’s Managing Director and CEO Mohammad Ali, along with bKash’s CEO Kamal Quadir and senior officials from both organisations, were present.

They highlighted the significance of this joint service and pledged to make remittance transfers even easier and safer for users.

These remittances serve as a vital lifeline for the country’s economy, boosting foreign exchange reserves and contributing to macroeconomic stability. To facilitate this process, Pubali Bank and bKash have developed a robust ecosystem that ensures secure and efficient remittance transfers.

Currently, expatriates from 33 countries can send remittances through 11 international Money Transfer Operators (MTOs), with funds instantly credited to recipients’ bKash accounts via Pubali Bank. In addition, recipients receive a government incentive of Tk 25 per thousand.

Recipients can easily cash out remittances at nearby bKash agent points. Furthermore, families can use the funds for various services, including paying for goods and services, utility bills (gas, electricity, water), money transfers, mobile recharges, education and government fees, donations, insurance premiums, microfinance repayments, and other services.

Alongside convenient, instant, and secure transfers, bKash has lowered cash-out fees. Beneficiaries can now withdraw remittances at a nominal cost of Tk 7 per thousand from approximately 2,500 ATMs of 19 leading commercial banks.

Table: Key Remittance Details

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