SJIBL to provide Western Union money transfer facility
Tuesday, 7 August 2007
FE Report
Western Union Money Transfer Services will be available across the 22 branches of Shahjalal Islami Bank Ltd throughout the country.
Western Union and its agent Southeast Bank Ltd announced an agreement in this connection recently.
Shahjalal Islami Bank is the first Islami Shariah-based bank to become a part of the Western Union network.
According to Bangladesh Bank, remittances from Bangladesh nationals working abroad continue to play a supporting role in strengthening the current account and are a major source of foreign currencies into Bangladesh. In 2006, foreign remittances increased nearly 25 per cent to USD $4801.9 million from USD $3,848.3 million in 2005.
Western Union Managing Director (South Asia) Anil Kapur said, "The people of Bangladesh need a reliable and convenient means to receive money sent from across the world. With our expansive global agent network, Western Union is uniquely positioned to meet this need."
Speaking on the occasion, Shahjalal Islami Bank Ltd Managing Director M Kamaluddin Chowdhury said, "The prime objective of Shahjalal Islami Bank is to serve the people for attainment of their economic goals and success in life. Remittances sent by migrants living in the US and those working in the Middle East are a major source of income for their families in Bangladesh. In fact according to the Bangladesh Bank, 35.3 per cent of the total wage earners' remittance coming into Bangladesh in 2006 came from Kingdom of Saudi Arabia, followed by the USA at 15.8 per cent and UK at 11.8 per cent.
Southeast Bank Ltd Deputy Managing Director Syed Imtiaz Hasib said. "Remittance is one of the biggest sources of poverty alleviation worldwide and is also a catalyst for economic development.
Shahjalal Islami Bank Limited Deputy Managing Director Mohammad Ali, Md Zillur Rahman and other high officials from both the banks were present at the signing ceremony.
The Western Union Company is a leading provider of global money transfer services.
Western Union Money Transfer Services will be available across the 22 branches of Shahjalal Islami Bank Ltd throughout the country.
Western Union and its agent Southeast Bank Ltd announced an agreement in this connection recently.
Shahjalal Islami Bank is the first Islami Shariah-based bank to become a part of the Western Union network.
According to Bangladesh Bank, remittances from Bangladesh nationals working abroad continue to play a supporting role in strengthening the current account and are a major source of foreign currencies into Bangladesh. In 2006, foreign remittances increased nearly 25 per cent to USD $4801.9 million from USD $3,848.3 million in 2005.
Western Union Managing Director (South Asia) Anil Kapur said, "The people of Bangladesh need a reliable and convenient means to receive money sent from across the world. With our expansive global agent network, Western Union is uniquely positioned to meet this need."
Speaking on the occasion, Shahjalal Islami Bank Ltd Managing Director M Kamaluddin Chowdhury said, "The prime objective of Shahjalal Islami Bank is to serve the people for attainment of their economic goals and success in life. Remittances sent by migrants living in the US and those working in the Middle East are a major source of income for their families in Bangladesh. In fact according to the Bangladesh Bank, 35.3 per cent of the total wage earners' remittance coming into Bangladesh in 2006 came from Kingdom of Saudi Arabia, followed by the USA at 15.8 per cent and UK at 11.8 per cent.
Southeast Bank Ltd Deputy Managing Director Syed Imtiaz Hasib said. "Remittance is one of the biggest sources of poverty alleviation worldwide and is also a catalyst for economic development.
Shahjalal Islami Bank Limited Deputy Managing Director Mohammad Ali, Md Zillur Rahman and other high officials from both the banks were present at the signing ceremony.
The Western Union Company is a leading provider of global money transfer services.