BRAC Bank has signed a partnership agreement with NRB CIP Association to promote remittance and investment inflow into the country.
NRB CIP Association is an organisation of Non-resident Bangladeshi (NRB) commercially important persons (CIPs) living in different countries.
The agreement will enable expatriate Bangladeshi businessmen, professionals, and their families back in Bangladesh to avail exclusive banking, remittance and investment services from BRAC Bank. Mohammed Mahtabur Rahman CIP, President of NRB CIP Association, and Sheikh Mohammad Ashfaque, Head of Branches of BRAC Bank, signed the agreement in Sharjah, UAE, on February 14, 2024, in the presence of Shofiqur Rahman Choudhury MP, State Minister for Expatriates’ Welfare and Overseas Employment.
The agreement was signed on the sidelines of a reception programme hosted in honour of Shofiqur Rahman Choudhury MP, State Minister for Expatriates’ Welfare and Overseas Employment. B. M. Jamal Hossain, Consul General of Bangladesh, senior officials of the Ministry of Expatriates’ Welfare and Overseas Employment, members of NRB CIP Association and expatriate Bangladeshis were present.
Among others are Mohammed Yaseen Chowdhury CIP, NRB CIP Association General Secretary, and Shahrear Md. Zamil, Head of Remittance and Probashi Banking; Khondker Emdadul Haq, Head of Government Relations; Kh. Shafayet Hossain, Head of Corporate Affairs, BRAC Bank, were present.
Under the agreement, the members of NRB CIP Association, the employees working for their businesses, and all of their family members back home will be able to avail the full suite of BRAC Bank’s Probashi products that include Probashi accounts (NRTA), NFCD accounts, FD, DPS, government NRB bonds, beneficiary loans directly from BRAC Bank. And using BRAC Bank’s robust digital and technological framework and its global network of partner exchange houses and overseas banks they will also be able to send money directly to their BRAC Bank accounts in instant, real time transactions. Not to mention, they will have access to all the functionalities of internet banking, powered by Astha App.
Aside from the bank’s digital channels, remittance beneficiaries can also pick up cash from BRAC Bank's 187 branches, 40 sub-branches, and 1,040 Agent Banking outlets.
NRB CIP Association is a non-profit and voluntary organisation working for the welfare of expatriate Bangladesh and their families. As an expatriate forum, the association plays a special role in enriching the country's economy by sending money to the country through legal channels.