Padma Bank enters money transfer agreement with US firm Transfast Remittance

Padma Bank Limited has signed an agreement with US-based international money transfer company Transfast Remittance.

News Deskbdnews24.com
Published : 15 July 2019, 08:56 PM
Updated : 15 July 2019, 08:56 PM

Under the deal signed on Monday in Dhaka, Transfast clients, including millions of Bangladeshis abroad, can send money back home through Padma Bank’s 57 branches, the bank said in a media release.

To draw the remitted money in Bangladesh, recipients will not have to open accounts in any of Padma Bank’s branches, according to the release.

Padma Bank Managing Director and CEO Md Ehsan Khasru and TRANSFAST Remittance’s Country Head in Bangladesh Mohammad Khairuzzaman witnessed the signing.

Padma Bank’s DMD Muhammad Ali Zaryab, Head of Business Zabed Amin, CFO Md Shoriful Islam, Head of Remittance Masud Rana Mazumder and other senior officials were also present on the occasion.

Transfast Remittance has more than 300,000 payment points in over 100 countries in North and South America, Asia, Europe and Africa.