Leading money Transfer Company’ Incentive Remit’ is considerably expanding its presence in Bangladesh by joining forces with BRAC Bank and bKash for digital money transfers, said a statement.
Using the app, the Bangladeshi diaspora living in Malaysia can now send money quickly and securely to 1 million BRAC Bank accounts, 186 BRAC Bank branches and 30 BRAC Bank SME locations for cash collection, Up to 30 million bKash mobile money wallets
Incentive Remit’s mobile-first, digital model saves customers time and money as they do not have to visit a bricks and mortar agent to send money home.
International transfers to bKash mobile money wallets via Incentive Remit are instant. Recipients can then transfer funds from their bKash wallets to other bKash wallets, BRAC Bank Customers using Internet Banking can also transfer to bKash wallet, top-up mobile airtime, and pay for bills and groceries at shops and businesses that accept bKash payments. Customers can also withdraw money as cash at bKash agent locations or store their funds in their bKash accounts.
Since its launch in 2011, bKash has become the largest mobile financial services (MFS) provider in Bangladesh, attracting 30 million customers.
Bangladesh features among the top five countries with the most emigrants living abroad and is the ninth-largest recipient of remittances globally. The Central Bank of Bangladesh estimates that the country received almost $15 billion in remittances in 2017.