Islami Bank Bangladesh Ltd and MoneyGram sign deal

On 04 September 2008, MoneyGram Payment Systems, Inc., a financial services company and Islami Bank Bangladesh Limited, a financial institution, have signed an agreement for remittance arrangement. The agreement would enable the Bangladeshi expatriates in 180 countries to remit their money through MoneyGram's 156,000 agent offices/locations at a low cost and within 10 minutes. Modern technology, larger banking channel and IBBL's Internet facility would ensure the reception of money sent by expatriates to recipients in a short period.

Source: The New Nation