Launch of a mobile application to send funds from Malaysia

0

Bangladeshi High Commissioner Golam Sarwar during the inauguration ceremony of the mobile money transfer app accompanied by officials from City Bank and CBL Money Transfer on Sunday, October 16, 2022. Photo: Collected

“>



Bangladeshi High Commissioner Golam Sarwar during the inauguration ceremony of the mobile money transfer app accompanied by officials from City Bank and CBL Money Transfer on Sunday, October 16, 2022. Photo: Collected

The “City Remit” mobile app has been launched in Malaysia to make it easier for expatriate Bangladeshis to send funds through a legal channel.

Malaysian company CBL Money Transfer, a subsidiary of City Bank Limited of Bangladesh, has launched a cross-border bank transfer channel app.

For all the latest news, follow the Daily Star’s Google News channel.

On the occasion of the inauguration, the institution announced a 2% incentive on remittances for the first 3 months, in addition to the government’s 2.5% incentive.

Thus, expats sending funds through the app will benefit from an incentive of 4.5% in total for the first three months following the inauguration.

Bangladeshi High Commissioner to Malaysia, Golam Sarwar, spoke at the “Bangladesh Remittance Meet-up 2022” ceremony held in the capital Kuala Lumpur on Sunday, October 16, 2022. Aziz Al Kaiser, Chairman of City Bank Limited and CBL Money Transfer, launched the mobile application.

Former Minister of Foreign Affairs of Bangladesh and Director of Malaysia’s CBL Money Transfer Faruk Sobhan, Managing Director of City Bank Masroor Arefin, Director of CBL Money Transfer Dato Gurcharan Singh and CEO Saidur Rahman Farazi, Counselor (Consular) of Bangladesh Embassy GM Russel Rana, Managing Director and CEO of Standard Chartered Bank Malaysia, Abrar A Anwar, and expatriate Bangladeshis of different classes and professions were present at the program.

The High Commissioner of Bangladesh, referring to the contribution of remittance agencies to the legal remittance, urged them to continue their cooperation and efforts.

He also urged expatriate Bangladeshis living in Malaysia to send funds through legal channels given the global economic backdrop.

The High Commissioner called on financial institutions, including other money transfers, to come forward to motivate expats through various incentives as well as mobile apps to make sending remittances easier and more accessible. .

Aziz Al Kaiser, Chairman of City Bank, said, “City Bank and CBL Money Transfer have taken various measures in addition to mobile apps to encourage expatriate Bangladeshis to send funds through legal channels.

Announcing the incentives on the occasion, he said the first phase will be implemented for three months from Oct. 23 and its deadline could be extended gradually.

Using the City Remit mobile app, any expat customer will be able to send money to the country instantly and securely through cash pickup, account transfer and mobile wallet from their Malaysian bank account.

Share.

Comments are closed.