Prime Bank partners with Coracle GmbH to enhance outward remittance for Bangladeshi students in Germany

Prime Bank PLC announced a strategic partnership with Coracle GmbH, a trusted provider of blocked account services in Germany, to simplify and expedite the visa application process for Bangladeshi students pursuing higher education in Germany.

Recently, a signing ceremony was held at the bank's Gulshan corporate office, according to a press release. 

Md. Nazeem A. Choudhury, Deputy Managing Director of Prime Bank PLC and Sheikh Hafeez Maeen, Director and Country Representative (Bangladesh) of Coracle signed the agreement on behalf of their respective organisations.

Asad bin Rashid, Head of Student Banking; Miah Mohammad Rabiul Hasan, Chief Bancassurance Officer; Nafis Uddin Mehran, Product Manager and Business Lead (Student Banking) of Prime Bank and other senior officials from both organisations were present at the ceremony.

Through this partnership, Coracle GmbH will issue a Confirmation Certificate of fund receipt within the same day of transaction or shortest possible time to customers based on the SWIFT message provided by Prime Bank PLC.

This certificate serves as a pre-requisite for the German visa interview and is typically issued only after the funds are credited to the student’s blocked account in Germany, the release adds.