State-owned Probashi Kallyan Bank (PKB) today signed an agreement with NCC Bank for the disbursement of remittance sent by Bangladeshi expatriates to their beneficiaries in the country.

Under the agreement, the PKB will be able to use both source and distribution channels of NCC Bank in receiving and distributing remittance.

NCC Bank Managing Director and Chief Executive Officer Mamdudur Rashid and Probashi Kallyan Bank Managing Director Zahidul Haque signed in the agreement at the Expatriates' Welfare Ministry.

By signing the agreement, it will be easier to reach remittance sent by expatriates to their beneficiaries, said Mamdudur Rashid.

At present, NCC Bank has an agreement with 40 money transfer operators (MTOs) such as MoneyGram. PKB will get the opportunity to bring remittance through the MTOs as partner organisations of NCC Bank, he said.

Besides, from now on PKB will be included in a network of about 6,000 delivery channels through which NCC Bank distribute remittance, he added.

PKB MD Zahidul Haque said although PKB has the jurisdiction to bring and distribute remittance, it does not have such a system operational at present.

To fill the gap, PKB has signed the agreement, he said.