MoneyGram and Southeast Bank Limited provide money transfer services in Bangladesh

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.

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.