Nagad, Rupali Bank partner to ease remittance flows

Nagad, the mobile financial service of the Bangladesh Post Office, and state-owned Rupali Bank PLC have signed an agreement to ensure the fast, secure, and hassle-free delivery of expatriate remittances to beneficiaries across the country.

The agreement was signed on Tuesday at the head office of Rupali Bank in Dilkusha, in the city.
Md Mezbaul Haque, the Bangladesh Bank-appointed administrator, signed on behalf of Nagad, while Kazi Md Wahidul Islam, managing director of Rupali Bank, signed for the bank.

Under this partnership, expatriate Bangladeshis can send money through international exchange houses, money transfer operators (MTOs), or banks directly to Rupali Bank.

Nagad will then instantly route those funds into the beneficiaries’ mobile wallets on behalf of the bank.
This mechanism enables beneficiaries anywhere in Bangladesh to receive and utilize remittance funds 24/7.

To encourage formal financial channels, Nagad routinely runs awareness and reward-based campaigns for expatriates and their families.

Recently, through a campaign titled “Har Na Mana Har” (The Unbeaten Necklace), Nagad offered gold necklaces as prizes to families receiving foreign remittances through its platform.

Speaking at the signing ceremony, Nagad Administrator Md Mezbaul Haque emphasized the macroeconomic impact of the move “Every single penny sent by our expatriates is vital for the national economy.

This partnership with Rupali Bank allows beneficiaries to receive money directly into their Nagad wallets safely and seamlessly.

With our extensive network, they can easily access these funds or cash out at the lowest rates. This initiative will boost formal remittance inflows and strengthen digital financial inclusion.”

Rupali Bank managing director Kazi Md Wahidul Islam added: “As one of the largest state-owned banks, we prioritize the secure and rapid delivery of expatriates’ hard-earned money.

Teaming up with Nagad makes it significantly easier to disburse remittances to the remotest parts of the country. We believe this initiative will increase legal remittance flows and enhance customer service.”

Representing Nagad were chief commercial officer Mohammad Shahin Sarwar Bhuiyan and head of remittance Md Ahsanul Haque Bashar.

Rupali Bank was represented by deputy managing directors Tahmina Akhter, Hasan Tanvir, and Md Harunur Rashid, along with general managers and head of remittance AKM Zakir Hossain.

The partnership leverages Nagad’s recent integrations with ‘Bangla QR’ and the National Payment Switch Bangladesh (NPSB).

Beneficiaries receiving remittances can now instantly transfer funds from their Nagad wallet to other bank accounts, or pay digitally at nearly one million Bangla QR merchant points nationwide-making tasks like utility bill payments, school fees, and daily shopping quicker and safer.