The New Nation - Internet Edition

BSS, Dhaka

The Citibank, N.A. Bangladesh and Bangladesh Post Office yesterday signed a correspondent network arrangement with a view to help facilitate payments for the banks clients, specially the remittances of Bangladeshis working abroad. This is the first time that a commercial bank is setting up such a unique correspondent network arrangement with the Bangladesh post office, said a bank press release here on Sunday.

The agreement was signed by AKM Rafiqul Islam, Director (Mails), on behalf of Bangladesh Post Office and Parvez Murshed, vice-president and acting head of transaction services of the Citibank NA, Bangladesh.

The ceremony was attended, among others, by Director General of Bangladesh Post Office Mobasherur Rahman, Managing Director and Citi Country Officer-Bangladesh Mamun Rashid.

Speaking on the occasion, Mobasherur Rahman said with 10,000 outlets and 40,000 staff, Bangladesh Post Office is ready to serve for the benefit of the people. "Very soon post office department is computerising its major post offices and then we will be able to help organizations who wants to reach the last mile," he said.

Mamun Rashid said " we have presence in Bangladesh since 1987 and today we are furthering our commitment by expanding our network with the assistance of Bangladesh post office".

Parvez Murshed said, " the Citibank pioneered cash management services in Bangladesh and today we provide our leadership in innovation by becoming the first bank in Bangladesh to sign a network arrangement with the Bangladesh post office."

"We work together extensively with post offices across Asia pacific in countries like Japan, Taiwan and Indonesia. This reflects our commitment to take the banking sector of Bangladesh forward in line with global best practices," he added.

Citi's global transaction services offers integrated cash management, trade and securities and fund services to multinational institutions, financial institutions and public sector organisations around the world.

With a network spanning over 100 countries, Citi's global transaction services supports over 65,000 clients, the bank release added.