BRAC Bank builds remittance ecosystem to serve NRBs and families

BRAC Bank has posted strong growth in inward remittances over the past five consecutive years and now aims to become Bangladesh's largest remittance bank by 2028.

The country received $30.33 billion in inward remittances during fiscal year 2024-25, while the figure is expected to reach $35 billion by the end of fiscal year 2025-26.

As remittance customers increasingly prioritise speed, security and accessibility, BRAC Bank has continued to strengthen its remittance banking capabilities through global partnerships, nationwide accessibility, digital innovation and tailored financial solutions for Non-Resident Bangladeshis (NRBs) and their families.

BRAC Bank Managing Director and CEO Tareq Refat Ullah Khan said, "Our advancement to the second position in April 2026 reflects the trust that Non-Resident Bangladeshis have placed in us with their hard-earned income. We remain committed to providing secure, transparent and accessible channels that strengthen migrant families' financial security and contribute to the country's foreign exchange reserves."

Over the past several years, the bank has expanded its exchange house network across key migrant corridors in the Middle East, Southeast Asia, Asia Pacific, the United States, the United Kingdom, Europe, North America and Africa.

Through host-to-host technological integration, BRAC Bank now works with more than 80 exchange house partners worldwide to facilitate faster and more reliable remittance transfers.

The bank has also strengthened domestic accessibility through 310 branches and sub-branches, alongside 1,117 Agent Banking outlets nationwide, enabling remittance-receiving families to access funds conveniently across urban and rural areas.

To address evolving customer needs, BRAC Bank has introduced several solutions for Probashis and their families, including the Probashi Virtual Savings Account, Probashi Poribar Account, TARA Probashi Poribar Account and Offshore Banking Unit (OBU) services.

Through its eKYC facility, Non-Resident Bangladeshis can open accounts remotely from abroad, while the Astha app enables customers to transfer funds, pay bills, manage deposits, access secured loans and operate DPS facilities from anywhere in the world.

BRAC Bank Additional Managing Director and Head of Wholesale Banking Md Shaheen Iqbal, CFA, said, "The bank's progress in the remittance market reflects sustained investment across our global network, distribution footprint, digital platforms and customer engagement. With eKYC onboarding, a comprehensive product suite for Probashi and their families, and the Astha platform, we have built an ecosystem that serves both the sender abroad and the family at home.

"We aim to reach the top of the market by 2028, and one we believe we can achieve on the strength of our customer relationships and continued investment," he added.

Beyond infrastructure and products, BRAC Bank also engages directly with remittance-receiving communities through Uthan Boithak – courtyard meetings organised across the country to promote formal remittance channels and long-term financial inclusion.