UCB and Incentive Remit Launched Real-time Remittance Service in Bangladesh

United Commercial Bank Limited (UCB) in collaboration with Incentive Remit (M) and FELDA Mobile, Malaysia launched the Real-time International Remittance Service though its digital payment system Upay. FELDA Mobile Sdn Bhd is a Joint Venture Company of Malaysia Government entity FELDA (Federal Land Development Authority). The service will enable Bangladeshi Migrant Workers of Malaysia to send money to their family members directly through Upay wallet. This is the first ever real time remittance distribution channel in Bangladesh maintaining all the regulatory and AML guidelines. This Partnership will benefit immigrant community by providing the easy, simple, flexible, safe and cost effective option to send money to families and relatives at home. In addition to Upay, all other digital and distribution channels of UCB like Branch, Agent Banking and Ucash can be used for distributing the remittance money.

Managing Director of United Commercial Bank Limited Mr. Mohammed Shawkat Jamil, Additional Managing Director of UCB Mr. Arif Quadri, Additional Managing Director of UCB Mr. Mohammad Mamdudur Rashid, Deputy Managing Director of UCB Mr. Nabil Mustafizur Rahman, Deputy Managing Director of UCB Mr. Abul Alam Ferdous, Deputy Managing Director of UCB Mr. N. Mustafa Tarek, Deputy Managing Director & COO Mr. Md Abdullah Al Mamoon, Managing Director of Incentive Remit (M) SDN BHD Mr. Maninder Bhullar, CEO of Marvel Communication SDN BHD Mr. Ram Kumar and CEO & Director of Felda Mobile SDN BHD Mr. M. Sabbir Chowdhury with other Senior Officials from respective organizations were present at the launching ceremony.