Nationwide effort instigated by BRAC Bank to augment awareness about remittances
BRAC Bank, a leading financial institution in Bangladesh, has launched a nationwide campaign to promote its Probashi Banking services and foster a more secure and sustainable remittance ecosystem. The bank's initiatives are aimed at educating remittance beneficiaries about the effective use of remittance funds, encouraging the use of formal remittance channels, and promoting safe remittance inflows and savings.
Md Shaheen Iqbal CFA, Deputy Managing Director and Head of Treasury and Financial Institutions, emphasised the bank's priority to accelerate remittance inflow in Bangladesh. As part of these efforts, BRAC Bank organised customer engagement programs in several districts, including Sunamganj, Brahmanbaria, Narsingdi, Chandpur, Sylhet, and Cumilla.
The initiatives include customer engagement sessions and educational programs targeted at remittance beneficiaries to raise awareness about the benefits and proper use of remittance products and services. The bank also aims to encourage migrants’ families and beneficiaries to adopt formal banking channels for remittance inflows, facilitating safer and more reliable access to funds.
BRAC Bank's Probashi Banking services are specialized banking solutions catering to expatriate Bangladeshis and their families. During the campaign, hundreds of participants opened new accounts, showing a significant interest in these services. Participants also expressed interest in BRAC Bank's digital solutions, including the Astha app, SME Shabolombi Loan, and other remittance-focused services.
The bank's initiatives underscore its commitment to financial inclusion. By tailoring its services to increase remittance inflow and encourage customers to use banking channels instead of illegal ones, BRAC Bank is contributing to a more secure and sustainable remittance ecosystem in Bangladesh.
In summary, BRAC Bank’s latest initiatives in these districts are comprehensive programs combining awareness campaigns, education, and enhanced banking services to promote formal remittance use, beneficiary education, and financial stability through their Probashi Banking offerings. These initiatives are part of BRAC Bank’s ongoing efforts to innovate in banking technology and services, aiming to make financial services more accessible and inclusive for all.
- Md Shaheen Iqbal CFA, in his role as Deputy Managing Director and Head of Treasury and Financial Institutions at BRAC Bank, highlighted the bank's focus on not only accelerating remittance inflow in Bangladesh but also expanding into other sectors, such as lifestyle, education-and-self-development, technology, and general-news, to provide a comprehensive range of services to their customers.
- As part of BRAC Bank's ongoing efforts to innovate in banking technology and services, the bank plans to introduce new products and services in sectors outside of finance, including lifestyle, education-and-self-development, technology, and general-news, aiming to enhance customer experience and promote financial literacy among its clients.
