Neck money transfer is starting again in Europe

About 60,000 expatriate Bangladeshis live in Spain, the country of festivals (land of fiestas and siesta) in southwestern Europe. The festival is closely related to the ongoing life of the Spanish. Expats are well placed in this top tourist destination for its paintings and literature of ancient civilizations, sunny climate, beaches and historical monuments. Spain has the second position in terms of the number of Bangladeshis living in Europe. Therefore, Bangladeshis living in Spain are important partners in sending remittances to Bangladesh.

As a result of Britain's exit from the European Union, Bangladeshi institutions sending remittances from all over Europe, including Spain, were closed due to the rules imposed by the European Union.

Remittance business in almost the whole of Europe is missed by Bangladeshis. Many Bangladeshi remittance sending businesses were closed. Remittance business is handled by world's top and Raghav Boal money transfer agencies like Western Union, Moneygram, Small World and Ria. As a result, the expatriate Bangladeshis are deprived of the opportunity to send money to the country at a low cost, and the amount of foreign exchange received by the country is also reduced. And using this opportunity, some hundi traders are continuing their business by going to the expatriates and encouraging them in various ways.

For this reason, the Bangladesh Embassy in Madrid has been conducting various awareness meetings-seminars and programs to send money to the country through banking channels since last year. In addition to officially encouraging expatriates to save through the Wage Earners welfare, prizes and medals for remittances from Spain were introduced to encourage remittances home this year on International Migrants' Day. However, the amount of remittances sent has not been as expected.

Recently, on March 12, a seminar was held in the hall of a restaurant in Madrid, the capital of Spain, titled "The benefits of remittances through banking channels in the global economic crisis". This seminar was organized by NRB Bank and ``Neck Money Transfer Limited'', a financial service organization run by Bangladeshis abroad, in collaboration with the Bangladesh Embassy.

Bangladesh Ambassador to Spain Mohammad Sarwar Mahmud NDC was the chief guest on the occasion. Appreciating the contribution of expatriates to the development and prosperity of the country, he said, ``Neck Money Transfer'' is a quick and hassle-free means of sending remittances through legitimate channels, their activities are positive for the returning country and the expatriates.

The ambassador also said that if we look at the growth of expatriate income in South Asia since the last seven-eight years, Bangladesh is ahead in that field. This is one of our major strengths. Besides, Bangladesh is not behind among South Asian countries in terms of expatriate income coming through digital means. But we are getting less than what we need.

He also said that we are constantly evaluating the quality of service and taking new steps for the welfare of expatriates. We have already started working to implement the Smart Embassy of Bangladesh announced by Prime Minister Sheikh Hasina to ensure easy communication and service of the embassy with expatriates. The sincerity and cooperation of expatriates is necessary for the implementation of these.

Chairman of NEC Money Transfer Limited and CEO Ikram Farazi (CIP) chaired the seminar as the main discussant was Chairman of NCC Bank Limited. Abul Bashar. Director of NCC Bank Limited SM Abu Mohsin said. Moinuddin, Managing Director. Mamdudur Rashid, EVP and Head of Remittance NRB Division. Mahfuzur Rahman, Bangladesh Embassy Spain Councilor (Labor Wing) Mohtasimul Islam, Bangladesh Mosque Management Committee President Khorshed Alam Majumdar, Bangladesh Association in Spain President Al Mamun.

In the opening speech of the program, Chairman and CEO of Money Transfer Limited, Ikram Faraji CIP, referring to himself as an expatriate, said, "I know all the sufferings, laughter and tears of the expatriates." That's why we are on our journey to Europe with Nek Money Transfer smart banking and more advanced facilities by using the tireless efforts, hard work, honesty and different thinking of all of us.

The former senior vice-president of the Association in Spain, General Secretary of the Bangladesh Mosque Management Committee, also spoke at the seminar under the supervision of Robin Mahmud, Country Director of Neck Money Transfer Limited Spain. Al Amin Mia, former general secretary Kamruzzaman Sundar, president of Association Valiante Bengal. Fazle Elahi, general secretary Ramiz Uddin, businessman Milton Bhuiyan Kochi, Abdul Qayyum Masuk, businessman Ekramuzzaman Kiran, Kader Dhali, Russell Dewan, Badrul Kamali and others.

Chairman of NCC Bank in the seminar. Abul Bashar presented several information including account opening with only passport without NID of expatriates.

Besides, to encourage remittance exchange through legitimate banking channels, Nek Money Transfer and NCC Bank offer attractive prizes including air tickets to all customers who accept their remittance services.
In the seminar, the speakers highlighted various problems in sending remittances to Bangladesh. The embassy said that the ambassador and those concerned with the money transfer will listen to their problems and suggestions and take necessary measures in this regard. Apart from this, the speakers recommended to take quick action stating that the validity of 700 expatriates living in Spain has not been renewed due to the non-renewal of their e-passports.

Nek Money Transfer Limited has received Bangladesh Bank's Remittance Award 2019 and 2020 as the highest remittance collector for the seventh time by sending expatriate money legally to around 90 countries around the world including Bangladesh.

Read More