BRAC Bank, J P Morgan to launch Xpedite Select

BRAC Bank PLC is working alongside J P Morgan Payments to facilitate inward and outward remittances.

The latest ‘Xpedite Select Receipt’ facility by J P Morgan enables customers to conveniently receive remittances in 40 different currencies. This secured and fast bank-to-bank process allows for direct money transfers to the customer’s BRAC Bank account in Bangladesh, according to a press release.

Earlier, BRAC Bank also enrolled in J.P. Morgan Xpedite Select Payments which offers outward payments in 120 currencies across the globe. This cross-border payment facility enables BRAC Bank to provide customers with a seamless and safe remittance service. In this current economic situation, this inward remittance facility will significantly increase the country’s FX flow.

Meheriar M Hasan, chairperson, and Md Shaheen Iqbal, deputy managing director and head of Treasury & FI of BRAC Bank, along with other senior officials, were present at the inauguration ceremony. It was held at BRAC Bank’s head office on February 28.

J P Morgan executives Kiat Seng Lim, global head of Financial Institutions Group, Shibu Thomas, head of APAC Product Solutions Specialist, and Sazzad Anam, head of Bangladesh Office, also attended the event.