Padma Bank, a fourth generation financial institution, has stood 28th among the 57 remittance receiving banks in the country, according to a recent central bank ranking.
The Bangladesh Bank has made the tabulation based on the amount of remittances that the local banks received in September this year. Padma Bank has topped the list among the fourth generation banks after it signed an array of foreign exchange agreement with well-known companies and exchange houses in the world.
After the relaunch of remittance business in August, 2019, Padma Bank has already signed 8 (eight) remittance deals with renowned 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.
Padma Bank's Managing Director and CEO Md Ehsan Khasru said, "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."
These schemes have revolutionized remittance collection from abroad by helping tens of thousands of Bangladesh migrants to open accounts easily and without hassles.
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