Dhaka Bank (DBL) is a second generation, technology driven private bank with approximately 1% share of the US$11 billion foreign remittance market. In line with most private banks, Dhaka Bank has a small branch network, mainly located in urban areas. Orascom Telecom Bangladesh Limited (Banglalink) is the second largest mobile network operator, with over 10 million clients and a significant distribution channel through its 600 owned outlets and 75,000 top up points operated by 100 distributors. 

Mobile phone operator Robi, Axiata (Bangladesh) Ltd, and DFID Remittance Payment Challenge Fund signed a grant agreement on 10 May 2010 to create a consortium of partnerships with banks and non-bank organisations with a view to improving migrant entrepreneurship and vocational skills in Dhaka.

RPCF has awarded a cost sharing grant to Islami Bank Bangladesh Ltd (IBBL) to implement remittance processing in up to 45 newly opened SME Service Centres in remittance prone areas. The service centres will operate to provide opportunities to remittance receiving migrant families to invest in existing and new entrepreneurial activity.

data edge Limited, a leading Bangladesh technology consulting firm, will develop eTranz, a national payment and transaction processing platform for use by the banking sector. The platform intends to use affordable technology and will be particularly attractive to banks with poor or non existent interbranch connectivity.

With the help of a grant from the challenge fund, data edge has entered into a public private partnership (PPP) with Sonali Bank Ltd, Bangladesh’s largest bank in terms of branches and accounts.

RPCF has provided a cost sharing grant to Electronic Transactions Network Ltd to enter into a public private partnership (PPP) with Agrani Bank, a state owned bank with a large share (8%) of the remittance market, and a significant interbranch payments function.

RPCF has awarded a cost sharing grant to BURO to enable it to equip 125 of its branch offices to provide convenient remittance delivery as a service to be offered to other Bangladeshi banks. BURO Bangladesh is the 5th largest NGO/MFI in Bangladesh and provides microfinance and other financial and social services to 500,000 clients from its 329 branch network. BURO, in common with other NGOs, is constantly seeking to expand its service provision where such services meet its aims and objectives.

RPCF has awarded a cost sharing grant to INAFI Bangladesh to commence providing skills training, entrepreneurship and business development services to migrant families and returnee migrants through 5 of its member NGO/MFIs (Padakhep, UDDIPAN, Shakti Foundation, POPI, SSS) in 14 of the most migrant-prone districts of Bangladesh

With the help of an RPCF grant Prime Finance & Investment Ltd will market the first open ended mutual fund primarily for Non Resident Bangladeshis who have an interest to invest in Bangladesh.

ASPADA Paribesh Unnayan Foundation was formed in 1993 and has successfully implemented a number of socio-economic development programmes to help alleviate poverty in the greater Mymensingh area and adjacent districts.

The Business Advisory Service Centre (BASC) is a private sector business development services facility, providing entrepreneurship and enterprise development support since 1993.  BASC has extensive experience in extending a broad range of business development services such as entrepreneurship training, consultancy, business counseling and information services.  Its core competency is in agribusiness, and BASC operates an Agribusiness Resource Centre which collects, collates and compiles information on emerging business opportunities on a regular basis.

RPCF is providing a grant of up to £295,480 to National Credit and Commerce Bank (NCCBL), for its partnership with Thengamara Mohila Sabuj Sangha (TMSS), to significantly expand its remittance delivery network in an Taka 8.1 crore “Foreign Remittance Payments Project”. 50 branches of TMSS and 250 branches of TMSS in migrant prone areas will offer convenient remittance delivery

The partnership will pioneer the use of PIN-protected remittance debit cards, allowing remittance beneficiaries without bank accounts with an alternative to drawing out all of the remittance in cash. With the card, the remittance beneficiary can draw out cash at the NCCB and TMSS branches or at any convenient Q-cash ATM machine. The card can also be used to purchase goods at merchants who accept VISA debit or credit cards.

RPCF has awarded a cost matching grant of £445,036 to BRAC Bank Limited which is one of the top 10 foreign remittance handling banks in Bangladesh, to develop EL DORADO, as remittances and payments system; which will be a web based remittance and payment processing system for Taka payments, interfaced with the soon-to-be-introduced Bangladesh Bank ACH (Automatic Clearing House) and run as an independent association of member banks. The remaining 50% of the EL DORADO project cost will be provided by BRAC Bank. The system will be fully developed and operational by mid-2009.