A photo of working women carrying bricks on their head in Bangladesh

BRAC Bank and bKash partner with WorldRemit for bank and mobile money transfers to Bangladesh

27/11/2018 | 3 minute read

New strategic partnership allows WorldRemit customers in over 50 countries to send money directly from their phones to 1.5 million BRAC Bank accounts, 186 BRAC branches for cash collection and up to 30 million bKash mobile money wallets in Bangladesh

Dhaka and London, 27 November 2018: Leading digital money transfer company WorldRemit is considerably expanding its presence in Bangladesh by joining forces with BRAC Bank and bKash for digital money transfers.

Using the WorldRemit app or website, the Bangladeshi diaspora living in over 50 countries can now send money quickly and securely to:

  •         1.5 million BRAC Bank accounts

  •         186 BRAC Bank branches and 30 BRAC SME locations for cash collection

  •         Up to 30 million bKash mobile money wallets

WorldRemit’s mobile-first, digital model saves customers time and money as they do not have to visit a bricks and mortar agent to send money home.

The new partnership considerably expands WorldRemit’s footprint in Bangladesh and supports its plan to serve 10 million customers connected to emerging markets by 2020.

International transfers to bKash mobile money wallets via WorldRemit are instant. Recipients can then transfer funds from their bKash wallets to other bKash wallets, top-up mobile airtime, and pay for bills and groceries at shops and businesses that accept bKash payments. Customers can also withdraw money as cash at bKash agent locations or store their funds in their bKash accounts.

Since its launch in 2011, bKash has become the largest mobile financial services (MFS) provider in Bangladesh, attracting 30 million customers.

Bangladesh features among the top five countries with the most emigrants living abroad and is the ninth-largest recipient of remittances globally. The Central Bank of Bangladesh estimates that the country received almost $15 billion in remittances in 2017.

Tamer El-Emary, Chief Commercial Officer at WorldRemit, comments: “We are delighted to be partnering with BRAC, a leading bank and household name in Bangladesh, and bKash, the largest mobile financial services provider in the country.

“Our partnership will support financial inclusion by enabling the unbanked Bangladeshi population to receive remittances straight into their mobile money accounts. Considerably expanding WorldRemit’s footprint in Bangladesh, the partnership will also connect us to over one million BRAC bank accounts and hundreds of cash pickup locations across the country.”

Kamal Quadir, Chief Executive Officer at bKash said: “In partnership with BRAC Bank, we are excited to launch international money transfers via WorldRemit. The partnership brings tremendous value to Bangladeshis at home and abroad, allowing people in Bangladesh to receive remittances into their bKash accounts 24/7, instantly.”

Selim R. F. Hussain, Managing Director & CEO at BRAC Bank Limited, added: “Our groundbreaking new partnership with WorldRemit allows our customers to receive remittances digitally directly into their BRAC Bank accounts, as cash over the counter at BRAC branches and agent points, and into their bKash mobile wallets. It is a great example of how international partnerships can make a difference to the lives of the Bangladeshi people. This is just the beginning of our partnership and we look forward to introducing more services to increase convenience for our customers.”

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About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

Sending money with WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, we offer a wide range of options, including bank transfer, cash pickup, airtime top up and mobile money. 

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom, with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.

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