Western Union teams up with Bangladesh postal department for easy transfer of remittance
Western Union, an international money transferring company, has teamed up with Bangladesh Postal Department for delivering the money remitted by expatriate Bangladeshis to the villagers easily.
The Ministry of Posts and Telecommunications and the Western Union (WU) signed the five-year deal on December 12, 2007, Brigadier General (rtd) M A Malek, special assistant to the Chief Adviser, told journalists.
“As per the deal, we will launch our services through 450 post stations in Bangladesh in the first phase and the number of such postal WU money receiving points will be raised gradually,” according to Anil Kapur, WU managing director for South Asia, who was also present at the press meet.
Acting Posts and Telecommunications Secretary Iqbal Mahmood termed the agreement as a new dimension to the postal services.
“We have started delivering passport forms and I hope we will also be able to deliver passports from post offices very soon,” he said.
Special Assistant Malek hinted at renewal of the deal after expiry of its five-year tenure for continuation of the WU-Postal Department joint services to ensure ‘easy and timely’ delivery of remittances in rural Bangladesh.
Anil informed the journalists that Bangladesh is one of the top 15 remittance recipients across the globe.
As per official statistics, the country received nearly USD 6 billion as remittance from non-resident Bangladeshis (NRBs) last year and the contribution of such remittance to the gross domestic product (GDP) crosses 13 percent.
The regional top official of the international money transfer firm said at present 30 percent remittance comes from Saudi Arabia, 15 percent from the USA and more than 10 percent from the UK.
With only 100 points across the country at the onset of its operation, the WU has now set up more than 1400 points to receive money, Anil said while giving a resume of his company.
The WU’s share in global money transfer business is over 17 percent, he said.
Western Union, an international money transferring company, has teamed up with Bangladesh Postal Department for delivering the money remitted by expatriate Bangladeshis to the villagers easily.
The Ministry of Posts and Telecommunications and the Western Union (WU) signed the five-year deal on December 12, 2007, Brigadier General (rtd) M A Malek, special assistant to the Chief Adviser, told journalists.
“As per the deal, we will launch our services through 450 post stations in Bangladesh in the first phase and the number of such postal WU money receiving points will be raised gradually,” according to Anil Kapur, WU managing director for South Asia, who was also present at the press meet.
Acting Posts and Telecommunications Secretary Iqbal Mahmood termed the agreement as a new dimension to the postal services.
“We have started delivering passport forms and I hope we will also be able to deliver passports from post offices very soon,” he said.
Special Assistant Malek hinted at renewal of the deal after expiry of its five-year tenure for continuation of the WU-Postal Department joint services to ensure ‘easy and timely’ delivery of remittances in rural Bangladesh.
He said, “If necessary, the agreement may be renewed or a new tender be floated to serve the purpose.”
Anil informed the journalists that Bangladesh is one of the top 15 remittance recipients across the globe.
As per official statistics, the country received nearly USD 6 billion as remittance from non-resident Bangladeshis (NRBs) last year and the contribution of such remittance to the gross domestic product (GDP) crosses 13 percent.
The regional top official of the international money transfer firm said at present 30 percent remittance comes from Saudi Arabia, 15 percent from the USA and more than 10 percent from the UK.
With only 100 points across the country at the onset of its operation, the WU has now set up more than 1400 points to receive money, Anil said while giving a resume of his company.
The WU’s share in global money transfer business is over 17 percent, he said.
