Ria and Dhaka Bank launch money transfer service at signing ceremony in Bangladesh

At a recent signing ceremony held in Dhaka, Ria and Dhaka Bank announced that they have partnered to provide inbound money transfer services in Bangladesh.

The partnership allows Ria customers to send money to their families and friends in Bangladesh and provides greater convenience for beneficiaries, enabling quick cash payout on inbound money transfers through Dhaka Bank’s network, including non-governmental organisations (NGOs).

Dhaka Bank Signing Ceremony_01

Sujoy Kanjilal from Ria (centre left) shakes hands with MD of Dhaka Bank, Mr. Niaz Habib. Other bank officials attended the signing ceremony at the bank’s headquarters in Dhaka to announce the new service.

Dhaka Bank’s Managing Director, Mr. Niaz Habib, said, “Beneficiaries in Bangladesh will be able to withdraw the remittance sent by their dear ones living abroad during banking hours from Dhaka Bank’s 83 branches and three SME Service Centres distributed countrywide.”

Mr. Habib also added that beneficiaries can also draw remittances from their partner NGOs, including Padakhep Manabik Unnayan Kendra with 233 branches nationwide and PAGE Development Centre, which has 83 branches in Comilla.

Ria’s Operations Director for South Asia, Sujoy Kanjilal said, “We’re pleased to welcome Dhaka Bank as our newest partner and as a strong addition to our network in Bangladesh. As Ria continues to expand throughout South Asia, we will keep providing our fast, secure and economical money transfer services, which will now benefit even more people.”

Ria’s Business Development Director for South Asia, Suhail Shamsi, added, “Bangladesh is an important remittance receiving country, with many people working abroad who need to send money back home to their loved ones – now they have more choice to do so. We look forward to a prosperous partnership with Dhaka Bank.”

In 2013, remittances to Bangladesh accounted for 9.2% of the country’s GDP. In 2014, the World Bank reported that Bangladesh received $15 billion in remittances, placing it in the Top 10 remittance receiving countries in the world.