Midland Bank, NEC Money sign deal on remittance service

Midland Bank Ltd signed an agreement with NEC Money Transfer Ltd, a UK-based Global Money Transfer Company, enabling the former to disburse hard earned remittances of NRBs living in different parts of the world from its branches and agent banking centres through NEC Money.

Md Ahsan-uz-Zaman, managing director and CEO of the bank, and Farazy Ikram, chairman and CEO of the money transfer company, inked the deal at the bank's head office in Gulshan, Dhaka yesterday, said a press release.

NEC Money Transfer is a Bangladeshi-owned fin-tech based remittance transfer company, which is widely known among Bangladeshi expatriates in the UK, Italy, South Africa, UAE, Australia, Canada and other EU countries.

Khondkar Towfique Hossain, head of international division of the bank, Nazmul Hasan, head of treasury division, Nafisa Chowdhury, head of NRB banking unit, and Anower Farazy Emon, chairman of the Farazy Dental & Research Centre and director of the money transfer company, Md Osman Goni, country manager, and Rashedul Islam Talukder, business development manager, along with other senior officials from both organisations were present.