Bangladesh, Oct. 23 -- Bangladesh Bank (BB) is exploring the possibility of opening branches of Bangladeshi banks in the Maldives and introducing alternative currency settlement arrangements to facilitate remittance transfers by expatriate workers through formal channels.
"We are trying to open branches of Bangladeshi banks in the Maldives to ensure that remittances come through formal channels," a senior BB official said, reports BSS.
The official said Bangladesh Bank Governor Md Mostaqur Rahman has already sent a letter to Ahmed Munawar, governor of the Maldives Monetary Authority (MMA), seeking cooperation to facilitate remittance transfers and improve banking services for Bangladeshi migrant workers.
"We are waiting for a reply," the...