Sending money home has become easier and faster as two banks and a mobile operator yesterday launched a cellphone-based remittance transfer system. The joint move by Eastern Bank, Dhaka Bank and mobile operator Banglalink will allow the remittance receivers to cash in a day instead of three days to one month through different existing channels.
The new service styled ‘Mobile Wallet’, which will also serve the unbanked population at no cost, got a shape after Bangladesh Bank (The central bank) gave a go-ahead to the move a few months ago. Presently more than 90 percent of the population in Bangladesh does not have access to regular banking facilities. Read more.