Sonali Bank gets nod to sign deal with PayPal

Economic Correspondent: State owned Sonali Bank has got permission from central bank to launch the online money-transfer services with PayPal in the country.

Sonali Bank remittance management division chief Mohammad Nawab Hossain confirmed the matter to media on Monday.

He said that Bangladesh Bank foreign exchange policy department has provided the permission.

“We just received permission. Now we will go forward with necessary procedures including signing of formal agreement with the PayPal, so that the service comes into operation soon," he said.

"Work on software development and co-operation will be taken place. We will not spend too much time. We hope good news will be announced soon," he added.

Earlier, State Minister for ICT Zunaid Ahmed Palak said, "We had a very effective meeting with the vice-president of PayPal today in San Jose, California. We explained to them in detail about Bangladesh Government’s policies and regulatory reforms and business opportunities for PayPal."


risingbd/Dhaka/Mar 20, 2017/Ashraf/Nasim