Fasset Signs First Bangladesh Banking Partnership with NRB Bank

Fasset, the Shariah-compliant digital banking platform, has signed a remittance service agreement with NRB Bank PLC to move overseas earnings into Bangladesh through formal banking channels. The agreement was signed through Fasset Labuan Limited on September 22 at NRB Bank's corporate head office in Dhaka and is Fasset's first banking partnership in the country.

Under the arrangement, NRB Bank will disburse funds sent through Fasset to recipients in Bangladesh, giving freelancers, remote workers and overseas business owners a bank-verified record of foreign earnings at exchange rates set by NRB Bank. Fasset will handle customer identification and anti-money-laundering checks, while NRB Bank, an authorised dealer bank, will verify beneficiaries and carry out local compliance screening under Bangladesh Bank rules.

Both organisations said they will explore further cooperation to improve cross-border remittance services in Bangladesh.

Source: Dhaka Tribune