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'PBL Exchange to be turned into full-fledged banking entity'

Tuesday, 24 August 2010


FE Report
Prime Bank Limited inaugurated three money transfer branches in UK under the name of PBL Exchange.
Three branches were opened in London (Brick Lane), Bermingham (Coventry Road) and Manchester (Oldham) recently.
Prime Bank Chairman Azam J Chowdhury inaugurated the Brick Lane, London Exchange House.
These exchange houses are set to provide instant money transfer to Bangladesh.
Through these exchange houses the remitters of UK will be able to send money to their near and dear ones living in Bangladesh via almost 100 branches network of Prime Bank. Besides, remitters can also send their money through 500 branches of its partner Buro Bangladesh.
Apart from the money transfer service, PBL will also provide other services like Bangladesh Stock Market investment, FC accounts services, Govt. bonds transactions, etc.
President of British Bangladesh Chamber of Commerce Iqbal Ahmed, renowned businessman and founder of Curry Awards Enam Ali, President of Bangladesh Caterers Association Bazlur Rashid, Managing Director of Prime Bank Limited M. Ehsanul Haque, manager of PBL Exchange (UK) ABM Kamrul Huda Azad and members of the board of directors and other high officials of Prime Bank were also present at the occasion.
Prior to the opening of the Exchange houses a customer meet was held at a local restaurant at Brick Lane followed by a press conference.
In the customer meet Azam J Chowdhury said, among the private banks Prime Bank is the first to have its fully owned subsidiary at Singapore in 2006 by the name of Prime Exchange Co. Pvt. Ltd. Prime Bank has already earned the trust of the NRBs of Singapore. In continuation to this it has landed in UK by opening three money transfer branches of exchange house.
He further added that PBL exchange will be turned into full fledged banking entity in the long run though it will work as the money transfer organization as of now. Through this exchange NRBs will be encouraged to invest in the country.
At the press conference the manager of PBL Exchange (UK) ABM Kamrul Huda Azad delivered written speech. In the speech he said, NRBs living in UK earn their money with a lot of hardship and send it to their friends and families in Bangladesh.
Prime Bank has near one hundred branches network around Bangladesh. Buro Bangladesh has another five hundred branches through which the people will be able to receive their money sent by their relatives living in UK.