PHOTO: CITY BANK

Md Mazibur Rahman, managing director of Probashi Kallyan Bank, and Mashrur Arefin, managing director and CEO of City Bank PLC, shake hands and exchange signed documents of an agreement at the Ministry of Expatriates’ Welfare and Overseas Employment in Dhaka yesterday. Asif Nazrul, adviser of the ministry, was present.

STAR BUSINESS DESK

City Bank PLC yesterday signed an agreement with Probashi Kallyan Bank (PKB) in a bid to bring remittances from Bangladeshi nationals living and working in different countries across the world.

Mashrur Arefin, managing director and CEO of City Bank PLC, and Md Mazibur Rahman, managing director of Probashi Kallyan Bank, penned the deal at the Ministry of Expatriates’ Welfare and Overseas Employment in Dhaka, said a City Bank press release.

Asif Nazrul, adviser of the expatriates’ welfare ministry, presided over the signing ceremony.

Under this agreement, workers who have gone abroad after borrowing from PKB will now be able to send their remittances to PKB by using City Bank as a vehicle. They will also be able to withdraw cash from PKB branches.

This will make pay loan instalment payments to PKB easier, said the press release.

The initiative in its second phase will see the workers sending their remittances directly to PKB through City Bank’s partner exchange companies abroad.

Among others, Md Ruhul Amin, chairman of PKB and secretary of the ministry, was present.