MasterCard, WU join bKash for cross-border money transfers
MasterCard, Western Union(WU), bKash, one of the world’s leading mobile financial service (MFS) providers and BRAC Bank launched a new, international remittance receiving service in Bangladesh on Monday (18-04-2016). The new service enables bKash’s registered customers to use their mobile phones to receive remittances from abroad directly into their bKash accounts.
Bangladesh is the eighth1 largest receiver of international remittances in the world, and therefore the new service stands to improve the ease and convenience with which millions of people are able to receive money from their loved ones abroad - a vital lifeline for many families.
The new service builds on the unprecedented success of bKash, which has attracted more than
IBBL agrees wit Ria for remittance service
Islami Bank Bangladesh Limited (IBBL) signed an agreement with Ria Money Transfer (Ria) to provide remittance payout services in Bangladesh at a function held recently at Islami Bank Tower.
Mohammad Abdul Mannan, Managing Director of Islami Bank, Abdus Sadeque Bhuiyan, Deputy Managing Director of Islami Bank and Mr. Suhail Shamsi, Business Development Director, South Asia for Ria, along with other senior officials of Islami Bank, attended the function.
The new service allows cash payout at any Islami Bank branch across Ba...
Mohammad Abdul Mannan, Managing Director of Islami Bank, Abdus Sadeque Bhuiyan, Deputy Managing Director of Islami Bank and Mr. Suhail Shamsi, Business Development Director, South Asia for Ria, along with other senior officials of Islami Bank, attended the function.
The new service allows cash payout at any Islami Bank branch across Ba...
The all other banking scams in BD
On Feb. 4, $101 million dollars of Bangladesh’s foreign exchange reserves were stolen from its account at the Federal Reserve in New York. Only about $20 million have been recovered so far, and it still isn’t known who took the money or where it ended up. The heist is being described as one of the biggest bank robberies in history.
But it’s hardly the first time tens of millions of dollars have vanished from Bangladesh’s banks. The high-flying cyberscam at the Federal Reserve pales in comparison with the routine plunder of Bangladesh’s financial system, including by some of its purported guardians.
The country’s six state-owned commercial banks (SOCBs) control around one-quarter of all bank assets in the country but have on outsize influence on the economy thanks to their connecti...
ADB signs trade finance deal with four banks
The Asian Development Bank (ADB) and four Bangladesh banks—The City Bank, Mutual Trust Bank, Pubali Bank, and Southeast Bank—today signed trade finance program agreements for a total value of $40 million.
“Under these agreements, ADB and our Bangladesh bank partners will provide loans and guarantees to support exporting and importing companies in Bangladesh, including small and medium-sized enterprises,” said Steven Beck, ADB’s head of trade finance. “This agreement will help create economic growth and jobs.”
The City Bank, Mutual Trust Bank, and Pubali Bank are all new banks joining the Trade Finance 
BB to appoint consultant to beef up security
Bangladesh Bank (BB) has decided to appoint a permanent consultant to oversee its IT and overall security measures, a senior official said.
“We are now working on hiring the consultant, who will be employed under an annual contract,” the official told The Daily Star, wishing not to be named.
The BB took the decision after it lost $101 million to cyber thieves from its foreign currency 
reserve account with the Federal Reserve Bank of New York on February 5. The money was wired to the Philippines and Sri Lanka.
At the request of...
reserve account with the Federal Reserve Bank of New York on February 5. The money was wired to the Philippines and Sri Lanka.
At the request of...
‘Planet Solutions’ — energy financing loan initiates
BRAC Bank launched 'Planet Solutions', Bangladesh's First Energy Efficiency Financing Loan to assist readymade garments and textile industries to invest in energy efficiency technology.
The loan is targeted to the RMG & textile industry who will invest in energy efficiency technology and the Technology Service Provider Companies who provide energy efficiency solutions.
Mr. S K Sur Chowdhury, Deputy Governor, Bangladesh Bank, and Mr. Selim R. F. Hussain, Managing Director & CEO, BRAC Bank Limited, formally launched the loan product at a 
