Western Union, Bank Asia and SIBL launch outbound money transfer service

Md Arfan Ali, Chairman and Managing Director of Bank Asia, Zafar Alam, Managing Director of Social Islami Bank Ltd, and Noor Elahi, Country Manager of Western Union, pose for a photo during the launch of the outgoing money transfer service at the Westin Dhaka recently. PHOTO: Bank Asia

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Md Arfan Ali, Chairman and Managing Director of Bank Asia, Zafar Alam, Managing Director of Social Islami Bank Ltd, and Noor Elahi, Country Manager of Western Union, pose for a photo during the launch of the outgoing money transfer service at the Westin Dhaka recently. PHOTO: Bank Asia

Western Union, together with Bank Asia Ltd and Social Islami Bank Ltd (SIBL), first launched outbound money transfer services in Bangladesh at an event at the Westin Dhaka recently.

Humayun Kabir, Executive Director (Exchange Policy Department) of Bangladesh Bank, Md Arfan Ali, President and Managing Director of Bank Asia, and Zafar Alam, Managing Director of SIBL, were physically present while Gaurav Yadava, Country Director of Western Union, and SS Ramanathan, Senior National Director, attended the event virtually, according to a press release.

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Western Union became the first money transfer operator to offer such a service in the country. Bangladeshi citizens can now send money for student payments and medical care abroad, while expats can send their earnings home.

Transfers can be made from their Bank Asia or SIBL accounts to billions of bank accounts, including digital wallets, in over 125 countries and territories, and in cash to over 200 countries and territories.

As part of the celebrations, a promotional price of Tk 500 per transaction of any value is being offered to customers until June 30.

SM Iqbal Hossain and Adil Chowdhury, Deputy Managing Directors of Bank Asia, Golam Gaffar Imtiaz Chowdhury, Senior Vice President, Md Yeahia, Additional Managing Director of SIBL, Akmal Hossain, Executive Vice President, Noor Elahi, Country Director of Western Union, and Shihab Hasan, Operations Manager, were also present.

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