MoneyGram launches Bank Deposit Service for NRBs

Money can be sent to any bank account in Bangladesh

_A Monitor Report01 Jul, 2019 | 191 Views|-+
Dhaka : MoneyGram a glo-bal leader in Omnichannel money transfer and payment services announced a partnership with Jamuna Bank, creating a convenient and new money deposit option for non-resident Bangladeshis around the world. The new service enables any bank account holders in Bangladesh to receive MoneyGram funds directly into their bank accounts. Jamuna Bank will be responsible for processing of the remittance.

An agreement signing ceremony was held in Dhaka recently, which was attended by Mirza Elias Uddin Ahmed, Additional Managing Director, Jamuna Bank Ltd, Yogesh Sangle, Head of Asia Pacific and South Asia and Sheshagiri (Sukesh) Malliah, Regional Head Indian Subcontinent, Indo China and Malaysia, MoneyGram among others.

"Bangladesh has been a key focus market for us and we wanted to provide Bangladeshi consumers around the world the option of sending money conveniently to their loved one's bank account. The newly launched service is also in line with our commitment to provide consumers with convenient options of sending and receiving money," said Sheshagiri (Sukesh) Malliah.

With USD15 billion in annual remittance, Bangladesh is amongst the top remittance receiving countries in the world, per World Bank data. This, along with the need for bank deposit service options in the region, ushers in a new opportunity for new MoneyGram consumers.

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