Remittance from Maldives can be sent thru bKash instantly

Bangladeshi expatriates in Maldives will now be able to send remittances back home from Commercial Bank of Maldives to bKash accounts instantly.

To facilitate this convenience, Commercial Bank of Ceylon PLC, Bangladesh, Commercial Bank of Maldives and bKash have signed an agreement.

This service will further widen the opportunity of instant remittance transfer through secured and legal channel, said a press release.

With the launching of “Bangla eRemit” platform, the service was inaugurated December 11 at the head office of Commercial Bank of Ceylon PLC, Bangladesh.

Abdur Rouf Talukder, governor of Bangladesh Bank inaugurated the “Bangla eRemit‟ platform virtually.

The High Commissioner for Bangladesh in Maldives, Rear Admiral S M Abul Kalam Azad and the High Commissioner for Maldives in Bangladesh, Shiruzimath Sameer were also present virtually at the event to grace the occasion.

Among others, Sanath Manatunge, group managing director of Commercial Bank of Ceylon PLC; Dilan Rajapakse, managing director of Commercial Bank of Maldives; Najith Meewanage, chief executive officer of Commercial Bank of Ceylon PLC, Bangladesh; Kamal Quadir, chief executive officer of bKash Limited and other high officials of the organisations were present at the event.

In his statement, Abdur Rouf Talukder, governor of Bangladesh Bank, highlighted the last visit of Prime Minister Sheikh Hasina to Maldives and her concern about sending remittance legally to Bangladesh from Maldives.

He said, “Through this partnership, migrants will now be able to easily send money to their loved ones back home. I am delighted that in a very short time, this instant remittance transfer facilitation through “Bangla eRemit” for the expatriates in Maldives has been created. bKash, with its largest distribution network in Bangladesh, is connecting millions. I believe, this kind of collaboration will boost the industry at large. Bangladesh Bank will be vigilant to ensure proper use of legal channel.”

Rear Admiral S M Abul Kalam Azad, high commissioner for Bangladesh in Maldives, said, “We have been working to create easy ways for our remittance earners so that they send their money without losing valuable time to their relatives. I am sure that this facility will encourage our remittance warriors to come under the legal banking channel.”

Shiruzimath Sameer, high commissioner for Maldives in Bangladesh, said, “This is a significant development for both the countries. This arrangement is a very good initiative from the Bangladesh government as well as the banks and bKash; because it will ease the remitting process for the workers.”

Currently, expatriates from more than 90 countries are availing the opportunity to send remittance securely to around 65 million bKash accounts through 13 commercial banks of the country via 80 money transfer organizations (MTO).

Commercial Bank of Ceylon PLC Bangladesh is a distinguished foreign bank currently operating in retail and Corporate banking on-boarding majority of the Embassies of country.

The bank earned “AAA” for the 12th consecutive year based on Financial Statements of 2021 by Credit Rating Information and Services Ltd. (CRISL) rated CBC Bangladesh.

Besides many appreciations and accolades, the Bank was also rated as the best foreign bank in Bangladesh by the Global Economics Limited Magazine- UK, World Economic Magazine -UK, the Most Sustainable Bank in Bangladesh by International Business Magazine - UAE, Best Corporate Bank Bangladesh by Global Business Review Magazine - UAE and Most Recommended Foreign Bank in Bangladesh by World Business Outlook - Singapore.