Community Bank Bangladesh PLC has entered into a strategic partnership with Nagad to expand digital financial services, including remittance, Add Money and fund transfer services, for customers.
The agreement was signed on Thursday at the head office of Community Bank Bangladesh PLC at Police Plaza Concord in Dhaka. Community Bank Managing Director Mohammed Emtiaz Uddin and Bangladesh Bank-appointed Nagad Administrator Md. Motassim Billah signed the agreement on behalf of their respective organizations.
Under the agreement, Community Bank customers will be able to directly add money to their Nagad wallets and transfer funds between Community Bank accounts and Nagad wallets, making day-to-day digital transactions more convenient.
The partnership will also expand remittance services, with foreign remittances received through Community Bank to be disbursed to beneficiaries through Nagad’s extensive network. The initiative is expected to improve access to remittance services, particularly for customers in underserved and remote areas.
The agreement also covers smoother customer onboarding and system integration between the two organizations, which are expected to strengthen Community Bank’s digital service capabilities and expand its customer reach.
Speaking on the occasion, Mohammed Emtiaz Uddin said the partnership would allow Community Bank to reach a wider customer base by leveraging Nagad’s network and digital capabilities, particularly in remittance and digital transactions.
Md. Motassim Billah said Nagad was expanding partnerships with banks to ensure easier and faster digital financial services for customers. He said the collaboration with Community Bank would create greater opportunities to provide remittance, Add Money and fund transfer services more conveniently.
Senior officials from both organizations attended the signing ceremony.
-HIS