Al-Arafah Islami Bank PLC has integrated the National Payment Switch Bangladesh (NPSB) with its remittance management software, the bank announced Tuesday.
The move connects the lender’s internal systems directly to the national switch, aiming to streamline the processing of cross-border funds for customers.
Mohd Rafat Ullah Khan, managing director of Al-Arafah Islami Bank, launched the service at the bank’s head office in Dhaka.
The integration is part of a broader push by Bangladeshi financial institutions to digitize and accelerate remittance corridors, which remain a critical source of foreign currency inflows for the economy.
The development follows a trend of strategic partnerships among regional banks to enhance digital infrastructure.
Recently, NRB Bank PLC entered into a strategic agreement with upay, the mobile financial service platform operated by UCB Fintech, to expand access to digital finance.