Expats now can send remittance through mobile phones directly

The central bank is giving an opportunity to the expatriates to send remittances through Mobile Financial Services (MFS) directly.

As a result, the expatriate can send the remittances to their home using mobile banking facilities like Upay, Bkash, and Rocket.

The Foreign Exchange and Policy Department of Bangladesh Bank issued a circular in this regard on Tuesday (November 29).

Expatriates will get this service from MFS institutions licensed by Bangladesh Bank. By doing this, expats can send remittances instantly.

According to the new directions, from now licensed mobile service providers will be able to contract with overseas online payment gateway service providers, banks, digital wallets, card schemes, and aggregator payment service providers for receiving the remittance.

So, the interested mobile financial service providers will have to apply to Bangladesh Bank for approval to conduct their activities by December 31.