Following the deal, Transfast clients, including millions of Bangladeshi Diaspora, can now send money back home through Padma Bank’s 57 branches, said a press release.
To draw the remitted money in Bangladesh, the recipients would not require opening accounts in any of Padma Bank’s branches.
The agreement was signed in presence of the Managing Director and CEO of Padma Bank Md. Ehsan Khasru and Country Director and Head of Operations (Bangladesh) of Transfast Remittance Mohammad Khairuzzaman.
Padma Bank’s DMD Muhammad Ali Zaryab, Head of Business Zabed Amin, CFO Md. Shoriful Islam and Head of Remittance Masud Rana Mazumder and senior officials were also present on the occasion.
Transfast Remittance LLC has more than 300,000 payment points in over 100 countries in North and South America, Asia, Europe and Africa.