Dhaka, Bangladesh (BBN) – Southeast Bank Limited and Grameenphone jointly launched a service for disbursement of foreign remittance to beneficiaries through the mobile phone system in a ceremony at the Bank’s Headquarters in Dhaka on Thursday.
The services will allow faster transfer of money from the remitter to the beneficiary than all existing means of foreign remittance. It will also bring more transparency to the remittance business because once the money is delivered to the beneficiary; a SMS will be generated automatically informing all concerned that the money has been safely delivered.
It will help bring more remittance through the official channel. There are a number of additional benefits that the beneficiary will get from this mobile payment system. Other than bank’s branches the service will be available at all Mobicash outlets authorized by Grameenphone all over the country even beyond traditional banking hours.
This service will allow eligible beneficiaries to access and benefit from the established secure banking and mobile phone infrastructure, regardless of whether they have a bank account or own a mobile phone. The service will make money transfer more accessible to all and ensure proper security of the system to meet the needs of the common people.
Mahbubul Alam, Managing Director of Southeast Bank and Raihan Shamsi, Acting CEO of Grameenphone jointly inaugurated the service.
The Southeast Bank has in recent times emerged as a leading bank bringing the hard earned and much needed foreign exchange of NRBs to the country through the official banking channels.
Its partnership with Grameenphone, the country’s most prestigious and leading mobile phone operator will have a significant and healthy impact on foreign remittance service whose importance to the national economy can hardly be over-emphasized.
Also present at the launching ceremony were Zakir Ahmed Khan, Adviser, Southeast Bank, Faruq Ahmad Siddiqi, Adviser, Southeast Bank Capital Service, M. Serajul Islam, Executive Director, Southeast Bank, Delwar Hossain Azad, Head of Financial Services, Grameenphone and senior officials of both companies.
BBN/SSR/AD-19Aug11-2:04 pm (BST)
