Brac Bank, TAP to disburse remittance

Brac Bank recently signed an agreement with Trust Axiata pay (TAP) to directly channel remittance to TAP wallets owned by the beneficiaries in real time.

The TAP has already opened a trust and settlement account with Brac Bank and will engage in digital automation with the bank in a few months.

Dewan Nazmul Hasan, chief executive officer (acting) of TAP, and Md Mahiul Islam, head of retail banking at Brac Bank, signed the agreement at the latter's head office in Dhaka recently, said a press release.

"We believe we can add significant value to our non-resident Bangladeshi base in Malaysia through this partnership," said Hasan.