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Dhaka Tribune

ACE Money Transfer holds 'Salam Bangladesh' campaign

The campaign had bigger prizes this Ramadan

Update : 09 Apr 2024, 11:19 PM

A growing UK-based remittance service provider, ACE Money Transfer, held its “Salam Bangladesh” campaign, this time with bigger prizes in line with the Bangladeshi government’s 2.5% incentives on foreign remittances to promote the use of regulated channels.

The company gave away eight new iPhone 15 Pro and 50 cash prizes of Tk20,000 each to Bangladeshi customers across the UK, European Union countries, Canada, Australia, and Switzerland.

Customers won the said prizes by sending remittances to Bangladesh via ACE Money Transfer throughout Ramadan.

Bangladeshi expats used the code “BANGLA” to register their entries to the lucky draws when creating remittance transactions via ACE Money Transfer.

Rashid Ashraf, CEO of ACE Money Transfer, said: "We stand committed to empowering Bangladeshi overseas workers through cutting-edge digital remittance solutions. With deep gratitude for the tireless efforts of our global Bangladeshi diaspora, we pledge unwavering support, delivering excellence in service and rewarding experiences.”

This promotion was open to all customers who will send money to Bangladesh through ACE Money Transfer throughout Ramadan. 

Despite a colossal 7.69% surge in remittance during the past 7 months, recording over $2.1 billion in January and February 2024, the New Year began with a foreign exchange crisis for Bangladesh.

The World Bank projects that the overall remittance inflows to Bangladesh in FY24 are expected to remain flat at $23 billion.

Several economists and other financial experts attribute the flat ratio of remittances to the weak dollar exchange rates that have driven Bangladeshi diasporas towards using unregulated channels like Hawala/Hundi.

ACE Money Transfer has stepped forward to promote the use of regulated channels to drive increased remittance inflows to Bangladesh.

The firm believes that alongside the government’s 2.5% incentive, its much-anticipated “Salam Bangladesh” promotion will significantly help stimulate the remittance inflows to Bangladesh.

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