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Tk 10.36b remitted by NRBs thru’ Sonali Exchange

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March 13, 2000

Sonali Bank has decided to open another branch of Sonali Exchange Company (SEC), a subsidiary organization of the bank, in Atlanta after the successful operation of its braches in New York and Los Angeles.

The decision was disclosed by Managing Director of Sonali Bank and Chairman of SEC’s board of directors M Enamul Haq Chowdhury Sunday on arrival in Dhaka after visiting New York.

Taka 10.36 billion were remitted to the country by the nonresident Bangladesh (NRBs) through branch during the year 1999, he further disclosed.

Chowdhury attended a SEC board meeting held March 3 in New York. SEC Director KA Rashid and Chief Executive Officer in New York Humayun Kabir were also present at the meeting.

The overall development and business viability SEC were reviewed at the board meeting, said a press release.

Chowdhury told the meeting if the standard of service is improved, NRBs would positively extend their corporations and come forward to send foreign exchange earned by them through the SEC.

Sonali Exchange Co in New York and Los Angeles earned an accountable success in sending foreign exchange earned by the Bangladesh nationals working there-to-there relatives and nominees promptly and safely.

SEC started functioning in 1994 under exclusive ownership of Sonali Bank with only one office in Manhattan. Now SEC has four branches in New York and one in Los Angles out of which success of Jackson Height branch is tremendous.

Besides attending the board meeting, Chowdhry visited Atlanta and Boston to see the viability of opening new offices there.

Source: The Financial Express

 


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