United Commercial Bank Limited (UCB) in collaboration with Incentive Remit (M) and FELDA Mobile, Malaysia launched the Real-time International Remittance Service though its digital payment system Upay. Managing Director of United Commercial Bank Limited Mohammed Shawkat Jamil and Managing Director of Incentive Remit (M) SDN BHD Maninder Bhullar seen United Commercial Bank Limited (UCB) in collaboration with Incentive Remit (M) and FELDA Mobile, Malaysia launched the Real-time International Remittance Service though its digital payment system Upay.
FELDA Mobile Sdn Bhd is a Joint Venture Company of Malaysia Government entity FELDA (Federal Land Development Authority). The service will enable Bangladeshi Migrant Workers of Malaysia to send money to their family members directly through Upay wallet.
This is the first ever real time remittance distribution channel in Bangladesh maintaining all the regulatory and AML guidelines. This Partnership will benefit immigrant community by providing the easy, simple, flexible, safe and cost effective option to send money to families and relatives at home.
In addition to Upay, all other digital and distribution channels of UCB like Branch, Agent Banking and Ucash can be used for distributing the remittance money, said a statement.
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