Brac Bank, JP Morgan join hands for streamlined inward and outward remittances with Xpedite Select
BRAC Bank PLC has partnered with JP Morgan Payments to streamline inward remittances with the introduction of 'Xpedite Select Receipt'.
This new facility by JP Morgan allows customers to receive remittances conveniently in 40 different currencies. It will ensure a secure and swift bank-to-bank process, directly depositing funds into customers' BRAC Bank accounts in Bangladesh, reads a press release.
The inauguration ceremony for this collaboration took place at BRAC Bank's Head Office on 28 February.
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BRAC Bank PLC Chairperson Meheriar M Hasan, Deputy Managing Director and Head of Treasury & FI Md Shaheen Iqbal, and other senior officials graced the event.
Executives from JP Morgan, including Kiat Seng Lim, Global Head of Financial Institutions Group; Shibu Thomas, Head of APAC Product Solutions Specialist; and Sazzad Anam, Head of Bangladesh Office, were also present.
Previously, BRAC Bank integrated with JP Morgan Xpedite Select Payments, facilitating outward payments in 120 currencies worldwide.
This cross-border payment service enables BRAC Bank PLC to offer customers a seamless and secure remittance experience.
Particularly in the current economic climate, this inward remittance solution is expected to bolster the country's foreign exchange inflow significantly.
