City Bank inaugurates remittance company in Malaysia

Bangladesh Bank Governor Dr. Atiur Rahman inaugurates a remittance company of City Bank at the CBL Money Transfer head office at Kulala Lumpur in Malaysia recently

City Bank Limited opened a subsidiary company titled 'CBL Money Transfer Sdn. Bhd.' in Malaysia with the approval of Bangladesh Bank and the central bank of Malaysia.

A colorful launching event was held at the CBL Money Transfer head office in Kulala Lumpur recently, said a press release.

Governor of Bangladesh Bank Dr. Atiur Rahman launched the company as chief guest while AKM Atiqur Rahman, Bangladesh High Commissioner attended the function as special guest.

Mashrur Arefin, Deputy Managing Director and and CCO of City Bank, Allah Malik Kazemi, Advisor to Governor for Bangladesh Bank, Rubel Aziz, Chairman, Aziz Al Kaiser, Chairman of CBL Money Transfer and Director, Deen Mohammed, former chairman and Director and K Mahmood Sattar, Managing Director and CEO of City Bank attended the function.

CBL Money Transfer Sdn. Bhd is the 3rd Bangladeshi bank owned Remittance Company in Malaysia.

The company has started its operation with two branches in Kuala Lumpur and Malacca.

"There are currently some 500,000 to 800,000 Bangladeshi workers working in Malaysia and this number is increasing progressively," Governor of Bangladesh Bank Dr Atiur Rahman said at the opening.

Dr Atiur Rahman referred Malaysia as the fifth largest remittance market for Bangladesh and also the third largest destination for Bangladesh workers.

Rubel Aziz emphasised that CBL Money Transfer will provide ease of communication for the Bangladesh workers here.

"The company will be able to open accounts in Bangladesh via the remittance branches here," he said.

Aziz Al Kaiser said, "The company aiming to ensure money is remitted via the proper channel and with full compliance."

News Source:Daily Sun Bangladesh

Dated:19-Sep-2013