Islami Bank MCash - Easy way to receive Remittance, Transfer funds

Islmai Bank Ltd, first Islami Sharia’ Based Bank in Bangladesh, has introduced MCash, a mobile Banking for its customer’s so that they can enjoy 24/7 banking services without going to branches from anywhere of Bangladesh.

With renovated services, like; receive foreign remittance, account to account balance transfer, it has able to reach vast amount of population in Bangladesh also for its agent banking service.

And today we’ll discuss MCash with its mission & vision’s, advantages, how to utilize it properly.

Islami Bank MCash: At a Glance

Though Bangladesh is the 29^th largest economic country in the world, many of its populations are still depriving from Banking facility.

It’s true that we have significantly improved in Garments, IT, Agriculture sector, we also have underprivileged (rural people) who are out of basic banking services. But on the other hand, rapid increase of Mobile network operators have opened an opportunity for us.

So, to take unbanked people under banking channel, Mobile banking plays an important in here & IBBL’s MCash is the perfect platform for them.

Advantages of Mobile Banking:

Mobile Banking has come to us as blessings because with the help of this rural people can easily access their bank accounts, make payments and transfer funds via cell phones.

Now, let’s take a look at some merits of mobile banking. First; getting an internet connection in the remote places almost impossible. With the help of this you can do your banking activities smoothly. Secondly, you can pay your electricity bills and/or make payments whenever you want & it saves a lot of time also.

Its interface is really simple, user friendly and if you/anybody follow/s simple a few instructions they can make the transaction easily.

Islami Bank mCash account Registration:

Customers can open IBBL MCash account from any Islami Bank branch, or Islami Bank approved agent and

Anyone who has a mobile SIM of any operator can open mCash account. Here you’ll need the followings;

Copy (1) of passport size photograph.

Photocopy of National ID / Passport / Driving License.

After that, the customer need to dial MCash code *259# and your Account will be Activated within a few minutes.

Set your four digit PIN number as your own & please don’t disclose this pin to anyone for security reason.

Receive Foreign Remittance by MCash

After Garments sector, Bangladesh’s second largest source of getting foreign currency is Remittance.

Every year those Bengali Immigrants, who are indirectly contributing to the development of Bangladesh, send money to their relatives through legal & illegal channel. But no more.

Now, you don’t need to come at the branches to receive the foreign remittance. Because, anyone, from anywhere can directly send the foreign remittance to your MCash mobile account from any approved IBBL foreign exchange houses, liaison offices or agents.

Funds will be credited directly to the mobile account within 24-72 hours and both (the remitter and the beneficiary) will get the confirmation SMS.

Remitter needs the following info’s to send the remit;

Amount of Money

• Name of the beneficiary (who receive the money)
• 12 digit MCash Mobile Account number.
• “Islami Bank Bangladesh Limited” as a Bank Name.

IBBL Cellfin App:

Recently Islami Bank has introduced to us their App based banking service called Cellfin, which is definitely very helpful for us.

You can do; add money, transfer money from islami bank to bkash, & other daily activities.

Below tutorial is presenting their full features for you. Just press the Hit button.

Conlcusion:

Islami Bank’s Mcash, an alternative to Bkash, plays an important role in Mobile financing economy. It is expanding its activities to the rural areas, so that People can easily enjoy all kinds banking activities without going branches.And we hope services like that will bring the change one day.