Brac Bank and Bkash partner with WorldRemit

Thursday 29 November 2018 13:06 CET | News

Brac Bank and Bkash have teamed with WorldRemit for bank and mobile money transfers to Bangladesh.

Via the partnership, WorldRemit customers in over 50 countries – part of “the Bangladeshi diaspora” – can send money from their phones to 1.5 million Brac accounts, 186 Brac branches for cash collection and up to 30 million Bkash mobile money wallets in the nation.

WorldRemit says this expands its footprint in the country and supports its plan to get ten million customers connected to emerging markets by 2020.

Recipients can transfer funds from Bkash wallets to other Bkash wallets, top-up mobile airtime, and pay for bills and groceries at shops and businesses that accept Bkash payments.

Brac is focused on SMEs and has a market capitalisation of USD 1 billion. It was founded in 2001.

Bkash was licensed by the Central Bank of Bangladesh in 2010 and was launched in 2011.

ccording to Bkash, it is a joint venture of Brac, US-based Money in Motion, International Finance Corporation of World Bank Group, Bill and Melinda Gates Foundation and Ant Financial.

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Keywords: BRAC Bank, BkashWorldRemit, money transfer, Bangladesh, wallet
Countries: World

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