Governor of Bangladesh Bank Dr. Atiur Rahman launching Western Union Money Transfer service with NCC Bank by giving remittance to a beneficiary Monday. Chairman of NCC Bank Md Nurun Newaz Salim and managing director Mohammad Nurul Amin also seen.

National Credit and Commerce Bank Ltd (NCC Bank) Monday launched remittance transfer services, enabling millions of Bangladeshi expatriates to send their hard-earned money to their near and dear ones in a fast and secured way.

Under the service, introduced in collaboration with TMSS, a non-government organisation, and Western Union, remittances can be withdrawn from over 600 retail locations of the bank and TMSS across the country, officials said.

Bangladesh Bank (BB) Governor Dr Atiur Rahman as the chief guest launched the product at a city hotel.

Presided over by Alhaj Md Nurun Newaz, Chairman of NCC Bank's Board of Directors, the function was addressed, among others, by Prof Dr Hosne-Ara Begum, executive director of TMSS, Roy Fernandez, Director- Operation of East and South Asia, Western Union, Mohammed Nurul Amin

Managing Director & CEO of NCC Bank and Golam Hafiz Ahmed, Additional Managing Director of the Bank.

Dr Atiur Rahman thanked the authorities concerned for building such joint platform to carry foreign currencies of the beneficiaries timely and in a secured way, strengthening country's economy and alleviating poverty.

Mentioning different positive trends of the country's economy, the BB governor hoped that our accumulated efforts including remittance transfer services will propel the economy to the desired level.

Our economic growth is participative and very qualitative, he said, adding that the rural economy is currently experiencing a juvenile appearance. "Whatever the critics say, our economy is in very much stable situation even after the global recession," Dr Rahman said.

Admitting failures in some sectors of the economy, he further said, "Though there are some failures, stories of success is not inadequate."

Mr Rahman suggested all to disseminate the positive stories of the economy.

Mr Nurun Newaz expressed his heartfelt thanks to Bangladesh Bank, Western Union and TMSS.

Mr Fernandez said, "Through our Agents we have been serving Bangladesh for over 17 years, and continue to strengthen our Agent network in keeping with our commitment of being wherever our consumers need us to be."

"We are indeed proud to be a part of connecting almost every part of the world with nearly every corner of Bangladesh," he added. Western Union has approximately 0.5 million agent locations in 200 countries and territories to provide the service.

Mr Nurul Amin sand, "We are delighted to team up with a global player like Western Union to offer its world class money transfer service. We truly believe the combination of Western Union's expansive global network and NCC Bank's local vantage offers real convenience to consumers in Bangladesh."

Dr Hosne Ara expressed his commitment to speedily deliver the remittance to the remotest beneficiary form their 520 locations around the country. She also thanked NCC Bank and Western Union for giving such an opportunity to the NGO to join with the partnership.

The Financial Express/Bangladesh/ 12th June 2012