BKB offers Western Union service
Sunday, 14 November 2010
Bangladesh Krishi Bank (BKB), has commenced offering Western Union® Money TransferSM services across its 600 branches in Bangladesh.
Bangladesh Krishi Bank, with 957 branches, is the largest state-owned specialized bank in Bangladesh and as a principal Agent of Western Union, it now offers existing and new customers international money transfer services across the country.
Launching the service, Khondkar Ibrahim Khaled, Chairman - Board of Directors, Bangladesh Krishi Bank Limited said, "BKB, through its many branches actively supports the agriculture sector often servicing the economically weaker sections of society. Not receiving money on time from abroad is a common problem faced by this community on a regular basis. BKB's arrangement with Western Union will thus not only facilitate proper timely inflow for the rural people, but also contribute towards improving the overall economy of the country.."
According to Bangladesh Bank, the country's central bank; remittances from Bangladeshi nationals working abroad continue to play a major role in strengthening the national current account and are a major source of capital inflows into Bangladesh. Through the financial year 2009-10, Bangladesh received close to US$ 11bn1 worth of international remittances.
"With its expansive global network, Western Union is uniquely positioned to provide fast, reliable and convenient money transfer services to consumers across remote geographical locations globally. With the addition of Bangladesh Krishi Bank, one of the largest banks in Bangladesh, we hope to further reinforce our presence across the country," announced Anil Kapur, Managing Director, Western Union, South & South East Asia.
Remittances sent by Bangladeshis living and working abroad are a major source of income for families in Bangladesh. Over 65% of the total wage earners' remittance coming into Bangladesh during 2009-10 came from the Middle East, followed by the USA at 13% and UK at around 7%1, according to the Bangladesh Bank.
Bangladesh Krishi Bank, with 957 branches, is the largest state-owned specialized bank in Bangladesh and as a principal Agent of Western Union, it now offers existing and new customers international money transfer services across the country.
Launching the service, Khondkar Ibrahim Khaled, Chairman - Board of Directors, Bangladesh Krishi Bank Limited said, "BKB, through its many branches actively supports the agriculture sector often servicing the economically weaker sections of society. Not receiving money on time from abroad is a common problem faced by this community on a regular basis. BKB's arrangement with Western Union will thus not only facilitate proper timely inflow for the rural people, but also contribute towards improving the overall economy of the country.."
According to Bangladesh Bank, the country's central bank; remittances from Bangladeshi nationals working abroad continue to play a major role in strengthening the national current account and are a major source of capital inflows into Bangladesh. Through the financial year 2009-10, Bangladesh received close to US$ 11bn1 worth of international remittances.
"With its expansive global network, Western Union is uniquely positioned to provide fast, reliable and convenient money transfer services to consumers across remote geographical locations globally. With the addition of Bangladesh Krishi Bank, one of the largest banks in Bangladesh, we hope to further reinforce our presence across the country," announced Anil Kapur, Managing Director, Western Union, South & South East Asia.
Remittances sent by Bangladeshis living and working abroad are a major source of income for families in Bangladesh. Over 65% of the total wage earners' remittance coming into Bangladesh during 2009-10 came from the Middle East, followed by the USA at 13% and UK at around 7%1, according to the Bangladesh Bank.