DHAKA: IFIC Bank has launched its own online remittance software ‘Remit4U’ for accelerating remittance flow from Oman and United Kingdom.

The Managing Director & CEO of the Bank Shah A Sarwar inaugurated the operation of the software at a simple ceremony on Wednesday at the Head Office of the Bank. The software was developed in-house by a team of software engineers of the bank.

Recipients would be able to instantly collect the remittance from any of 108 Branches of IFIC Bank just after sending the money through the Bank’s joint venture exchange house Oman International Exchange in Oman and fully-owned subsidiary IFIC Money Transfer (UK) Ltd in London.

Addressing the launching ceremony, Sarwar said, “We have introduced this software--Remit4U--so that the money can be sent to the recipients in the remote areas quickly with a secure and a trustworthy way.

He added: “The expatriates will not have to pay any extra charge for sending their hard-earned remittance by using the software.”

The launching ceremony was attended, among others, by Deputy Managing Director (Business)Matiul Hasan, Deputy Managing Director & Chief Financial Officer (CFO) SM Abdul Hamid, Deputy Managing Director & Chief Risk Officer (CRO) MM Haikal Hashmi, EVP & Head of Treasury Abu Nasser Al Razi and Head of Business Project Delivery Ashim Chowdhury.

It can be mentioned here that IFIC Bank maintains remittance arrangement with famous remittance companies MoneyGram Payment Systems Inc, Sigue Global Services, Xpress Money Services Ltd, Placid NK Corporation, Alfardan Exchange and Multinet Trust Exchange, apart from its joint venture Oman Int’l Exchange and subsidiary IFIC Money Transfer (UK) Limited.

BDST: 1755 HRS, OCT 02, 2013
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