ONE Bank PLC has introduced an instant fund transfer service that allows customers to transfer money directly from the bank’s mobile banking application to Nagad, one of Bangladesh’s leading mobile financial service providers, in a move aimed at making digital transactions faster, easier and more secure.
The service was formally launched at a programme held on Tuesday at ONE Bank’s corporate headquarters in Gulshan, Dhaka. Officials from both organisations said the initiative is expected to increase transaction flexibility for customers and support the country’s transition towards a cashless economy.
Md Motasem Billah, administrator of Nagad appointed by Bangladesh Bank, and Muhit Rahman, Managing Director of ONE Bank, attended the launch event and exchanged the agreement on behalf of their respective organisations.
Representing Nagad at the programme were Mohummed Shahin Sarwar Bhuiyan, Chief Commercial Officer, and Md Saidur Rahman Dipu, Head of Business Sales, among others.
ONE Bank was represented by Shabbir Ahmed, Additional Managing Director and Head of Business; Kazi Ziaul Islam, Deputy Managing Director; Iftekhar Ahmed Zafar, Deputy Managing Director; and other senior officials from both organisations.
Speaking at the event, Md Motasem Billah said interoperability between banks and mobile financial service providers is essential for expanding digital financial services across Bangladesh.
“This partnership with ONE Bank will enable customers to conduct digital transactions more conveniently while also contributing to greater financial inclusion across the country,” he said.
Muhit Rahman said the bank continues to introduce new digital initiatives to provide customers with more modern and convenient banking services.
“Through this partnership with Nagad, our customers will be able to transfer funds more quickly and easily,” he said.
The collaboration reflects growing efforts by banks and mobile financial service providers to strengthen digital payment infrastructure and improve access to financial services, said in a press release.
