Padma Bank, a fourth generation PCB has stood 28th among the 57 remittance receiving banks in the country, according to a recent central bank ranking.
The Bangladesh Bank has prepared the list based on the amount of remittances that the local banks received in September this year.
Padma Bank has topped the list among the fourth generation banks after it signed an array of foreign exchange agreements with well-known companies and exchange houses in the world, according to a statement.
The bank after the re-launching of remittance business in August '19 has already signed 8 remittance deals with renowned companies and exchange houses across the world.
Nine more deals are under the process and would be signed with the next few weeks, the bank said in a statement.
The bank's innovative new saving account for Non Residents & beneficiaries known as "Probashi Excel Account", has already gained huge popularity among the Bangladeshi diaspora in Bahrain, Dubai, Jordan, Malaysia and the United Kingdom.
"I have given directives to boost remittance collection through the launching of new and attractive products and services. These initiatives are now bringing good results and helping the country scale up remittance collection," Padma Bank's Managing Director & Chief Executive Officer, Md. Ehsan Khasru said.
Following Mr. Khasru's directive, all 57 branches of the bank has also initiated awareness raising programmes to promote these remittance saving schemes.
These schemes have revolutionized remittance collection from abroad by helping tens of thousands of Bangladesh migrants to open accounts easily and without hassles.
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