DHAKA, Feb 25, 2021 (BSS) – Sonali Bank, the country’s largest state-owned commercial bank, in partnership with the largest mobile financial service provider bKash, inaugurated the two-way instant fund transfer service.
Through the service, Sonali Bank customers can do their banking transactions through bKash app anytime from any place availing of two-way fund transfer facility between bank and bKash, said a press release today.
As a result, customers will enjoy more freedom and flexibility at their finger-tip as there is no limitation of regular banking hours.
Zunaid Ahmed Palak, state minister for Information and Communication Technology (ICT), attended the inauguration function as the chief guest at a hotel on Wednesday while Md Ashadul Islam, senior secretary of the Financial Institutions Division of the Ministry of Finance and Ziaul Hasan Siddiqui, chairman of the Board of Directors of Sonali Bank were present at the function as special guests.
Md Ataur Rahman Prodhan, CEO and managing director of Sonali Bank Limited; Kamal Quadir, chief executive officer of bKash, and other high officials of Bangladesh Bank, Sonali Bank and bKash were also present at the event.
This joint service is launched to uplift people’s living standard through digital financial inclusion which is another step towards the realization of Digital Bangladesh. With this, 25 million customers of 1225 Sonali Bank branches can experience seamless, secure, time-saving and cost-effective banking services. At the same time, these small-amount transactions through bKash will reduce pressure on bank branches and create opportunities to pay more attention to the customers with specialized needs.
Customers can easily link their Sonali Bank account credentials with bKash app through a few simple steps. Credentials of both the accounts should match. After linking accounts, customers can easily ‘Add Money’ from bank to bKash and also ‘Transfer Money’ from bKash to Sonali bank accounts 24/7.
Through Transfer Money service, customers can avail of services like payment of DPS or loan installments and depositing money to bank account from home. However, for both services, the ‘limit’ set by Bangladesh Bank will be applicable.
In his speech, Zunaid Ahmed Palak said, “Digital financial services have empowered people to meet the challenges of COVID crisis. At the same time the importance and usefulness of MFS has become more vivid. Such a joint venture between the two largest public and private financial service providers has undoubtedly paved the way for ensuring digital financial services in every sphere of life and thus enhancing financial inclusion.”
Md Ashadul Islam said that this initiative of Sonali Bank and bKash will play a pioneering role for establishing a cashless society.
Ziaul Hasan Siddiqui said that customers would be able to Cash Out from the nearest bKash agent points after doing bank to bKash Add Money anytime and also Transfer Money from bKash to Sonali Bank account as per their need.