Fasset, a Shariah‑compliant digital banking platform, has signed a remittance service agreement with NRB Bank PLC to facilitate the transfer of overseas earnings to Bangladesh through formal banking channels.
The agreement, signed through Fasset Labuan Limited on September 22 at NRB Bank’s corporate head office in Dhaka, marks Fasset’s first banking partnership in Bangladesh.
Under the agreement, NRB Bank will disburse funds transferred through Fasset to recipients in Bangladesh, allowing freelancers, remote workers and overseas business owners to receive earnings from international clients and employers.
According to the companies, transfers will be processed at exchange rates determined by NRB Bank, providing recipients with bank-verified records of their foreign earnings.
The arrangement is also expected to simplify documentation of export earnings for business owners.
Fasset Chief Growth Officer Saad Naveed Pall said the partnership would support the company’s efforts to develop technology-driven cross-border financial services.
Fasset Bangladesh Country Manager Asif Nahin Taposh said the agreement would provide Bangladeshi freelancers, remote professionals and entrepreneurs with a direct banking route for transferring overseas earnings.
The companies said all disbursements would be conducted by NRB Bank, an authorised dealer bank, in accordance with Bangladesh Bank’s foreign exchange regulations and anti-money laundering and counter-terrorist financing requirements overseen by the Bangladesh Financial Intelligence Unit.
Fasset will conduct customer identification and anti-money laundering checks, while NRB Bank will verify beneficiaries and carry out local compliance screening before crediting funds.
NRB Bank Additional Managing Director, COO and CAMLCO Anwar Uddin said the partnership was intended to support remittance growth and improve access to formal money transfer services for non-resident Bangladeshis.
The signing ceremony was attended by senior officials from both organisations, including Fasset Global Senior Product Manager Kazi Sazidul Hasan and NRB Bank Additional Managing Director and CBO Kimiwa Saddat.
Other NRB Bank representatives included Senior Executive Vice President Mohammed Towfiqul Alam Chowdhury and First Vice President and Head of Cards Khaja Wasiullah.
Both organisations said they would explore further cooperation to improve cross-border remittance services in Bangladesh.
