International money-transfer company expands into Bangladesh, through Southeast Bank Limited (SEBL) whose presence extends cross-country.
Acknowledging its expertise in the delivery of money transfer capabilities for unbanked customers, MoneyGram, together with the already locally situated SEBL, will now transport its services to Bangladesh, a country that has thousands of citizens working and living abroad. With MoneyGram in almost 200 countries globally and 10% of Bangladeshi GDP coming from migrant workers during the 2012-2013 fiscal year, the need for this collaboration is apparent.
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From MoneyGram’s point of view, the expansion is a financially sound move and one that will “propel our growth in this important market,” said Harsh Lambah, senior regional director, South Asia.