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Padma Bank ranks 28th in remittance collection

Published : Monday, 14 October, 2019 at 12:00 AM  Count : 939
Business Desk

Padma Bank Limited (Padma Bank)- a fourth generation bank, has stood 28th among 57 remittance receiving banks in the country, according to a recent central bank rating.
Bangladesh Bank (BB) has made the tabulation based on the amount of remittances that the local banks received in September this year, said a press release.
Padma Bank has topped the list among the fourth generation banks after it signed an array of foreign exchange agreements with well-known companies and exchange houses in the world.
The bank after the re-launch of remittance business in August 2019 has already signed eight remittance deals with noted companies and exchange houses across the world.
Nine more deals are under the process and would           be signed with the next few weeks, the bank said in a statement.
The bank's innovative new saving account for Non Residents and beneficiaries known as 'Probashi Excel Account' has already gained huge popularity among the Bangladeshi Diaspora in Bahrain, Dubai, Jordan, Malaysia and the United Kingdom.
"I have given directives to step up remittance collection through the launching of new and attractive products and services. These initiatives are now brining good results  and  helping the country scale up remittance collection," the bank's Managing Director and CEO Md Ehsan Khasru said.

All 57 branches of the bank have also initiated awareness raising programmes to promote these remittance bringing schemes, he added.
These schemes have revolutionised remittance collection from abroad by helping tens of thousands of Bangladesh migrants to open accounts easily and without hassles.

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