Bank Asia launches service for low value cross-border payment

Bank Asia Limited has launched a "Swift Go" service through JPMorgan Chase Bank, NA to facilitate low value (up to $10,000) cross-border payments for small and medium enterprises.

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has introduced this service for easy as well as direct transfer of payment within four hours (maximum) of the same day with detailed tracking of receipt and payment by the beneficiary and payee.

Shafiuzzaman, president and managing director (current charge), inaugurated the service at Bank Asia Tower in Karwan Bazar, Dhaka on August 31, said a press release.

Sazzad Anam, executive director and head at JPMorgan Chase Bangladesh Office, Arpita Ghosh, country manager for Bangladesh at SWIFT, ANM Mahfuz, additional managing director of Bank Asia, Md Zia Arfin, head of international division, and other senior officials from both organisations were present.