Bkash, Pubali Bank partnership hits five million remittance transactions

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

This hassle-free and secure service, jointly offered by two of the country's leading financial institutions, has earned significant trust among expatriates and their families. It also encourages the use of legal channels, helping to strengthen Bangladesh's foreign currency reserves.

A ceremony was recently held at the bKash headquarters to celebrate the milestone. Mohammad Ali, Managing Director and Chief Executive Officer of Pubali Bank, and Kamal Quadir, Chief Executive Officer of bKash, along with senior officials from both organisations, attended the event. They highlighted the importance of the partnership and pledged to make remittance services even easier and safer for users.

As a vital lifeline for the national economy, these hard-earned remittances play a crucial role in boosting foreign exchange reserves and supporting macroeconomic stability. To facilitate this, Pubali Bank and bKash have developed a robust ecosystem that enables expatriates to send money home swiftly and securely.

Expatriates from 33 countries can now send remittances through 11 international money transfer operators, with funds settled instantly into recipients' bKash accounts via Pubali Bank. Recipients also receive a government incentive of Tk25 per thousand. They can withdraw the money easily from nearby bKash agent points. Families may also use their bKash accounts to pay for products and services, utility bills, mobile top-up, educational and government fees, donations, insurance premiums, microfinance instalments and various other services directly from home.

To further support beneficiaries, bKash has reduced cash-out fees. Remittance recipients can now withdraw funds at a cost of only Tk7 per thousand from approximately 2,500 ATMs of 19 leading commercial banks.