NRB Bank PLC has signed a strategic partnership agreement with mobile financial service Nagad to expand digital banking, instant foreign remittance transfers, and financial services to underserved rural communities across Bangladesh.
The agreement was formalised at the corporate head office of NRB Bank in Gulshan, Dhaka.
Under the partnership, NRB Bank will leverage the digital network of Nagad to deliver financial services into remote regions where the commercial bank lacks physical branch locations.
The formal document was signed by Bangladesh Bank-appointed administrator of Nagad Motasem Billah and managing director and chief executive of NRB Bank Tarek Reaz Khan.
A core feature of the deal allows inward foreign remittances sent through NRB Bank to land directly into the digital wallets of recipients using Nagad.
The system enables family members in remote communities to access and spend remitted money 24 hours a day.
Both institutions also announced plans to broaden their joint services in the future to include nano-loans and corporate collection tools.
Senior representatives attending the signing ceremony included Nagad chief commercial officer Mohummed Shahin Sarwar Bhuiyan and head of remittance Ahsanul Hoque Bashar.
NRB Bank was represented by deputy managing directors Anwar Uddin and M. Rashidul Huda, alongside branch banking head Towfiqul Alam Chowdhury and acting remittance head Syed Mahfuz Ali.
Administrator Motasem Billah stated that financial technology will continue to reshape traditional transaction systems, making institutional collaboration vital to support economic growth.
Managing director Tarek Reaz Khan noted that while NRB Bank operates 109 branches and sub-branches, reaching isolated rural areas remains difficult.
He explained that connecting with Nagad and its network of more than 300,000 agent points will significantly expand the operational reach of the bank.
Nagad, which operates under the Bangladesh Postal Department, has introduced several programmes to encourage formal remittance channels and digital payments.
The organisation recently launched a campaign offering gold necklaces to foreign remittance recipients.
The platform has also expanded cashless payments through its integration with National Payment Switch Bangladesh, allowing users to make digital transactions at one million merchant outlets nationwide using the Bangla QR system.
