Showing posts with label Remittance. Show all posts
Showing posts with label Remittance. Show all posts

Monday, June 14, 2021

Most Expensive | Egg of the Sun Mango in Bangladesh


Egg of the Sun mango which is called Miyazaki in Japan is now cultivating in Khagrachari, thousands of taka per kg. The famous Miyazaki or (Surjo Deem) mango of Japan is now being planted in the hills of Khagrachari. This type of mango is quite expensive. It is being sold from the garden at one thousand taka per kg.

The agro farm is located at Dhumnighat which is almost four KM far from Mahalchhori Zero Mile which is 19 km away from Khagrachhari, west side of Mahalchhari Jalliapara road. The Egg of the Sun mango orchard has been planted at Kra A A Agro Farm on 35 acres of land. Not only sun eggs, the owner is planting there are about 60 varieties of mangoes in this farm. The owner of the mango garden is Hlashimong Chowdhury. The young man who has a master's degree in English literature from Chittagong University.

 


There is egg of the sun colorful mangoes hanging from 120 mango trees. 30 to 50 mangoes in each tree. On an average each mango weighs about 300 grams. It looks as if the green mango has been painted.

Hlashimong Chowdhury collected egg of the sun mango saplings from different parts of the country. For the first time this year, each tree has yielded. The egg of the sun mango price in Bangladesh is high if compared with local varieties. He is selling this variety of mango at one thousand taka per kg. But the demand in the local market is very low due to high prices. However, many people from Dhaka, Super shops are buying this mango from here. Some interested peoples are also contacting for mango seedlings.


Hlashimang Chowdhury was born in a traditional educated family of Mahalchhari upazila. He completed his master's degree in English literature from Chittagong University and took charge of Sindukchhari Bazar Chowdhury in Guimara upazila. In 2015 he planted about 100 mango saplings of different varieties as a hobby. After two years, he started selling extra fruit outside of their own diet. He said the idea of ​​commercial gardening once came to mind.

At present 12 local workers are working in his garden. Unuching Chowdhury, the wife of Hlashimang Chowdhury, who has a master's degree in management from Chittagong Commerce College, has been the inspiration and support for gardening from the very beginning.

The Surjo Dim / Egg of the Sun / Egg Sun / Taiyo no Tamago or Miyazaki is also known as Red Mango in the world. This mango is the most expensive in the world market. It is basically a Japanese mango variety. The mango is very tasty to eat. The soil and climate of the hilly areas are very conducive for the production of Miyazaki mango. Naturally, the mango is red and beautiful to look at.

In 2017, two mangos sold at a Japanese wholesale auction for a record-breaking $3,744. The Egg of the Sun is a variety of mango grown in the Miyazaki prefecture and sold throughout Japan. Although they don’t usually go for thousands of dollars, on any given day you would be hard-pressed to find one for less than $50. The question is: What makes these mangoes so expensive?


The hefty price tag is partially due to the care that goes into growing these fruits. Japanese farmers surround each mango with a small net, which allows sunlight to hit the skin at all angles (giving it a uniform, ruby-red color), and cushions the fruit when it falls from the tree. Allowing the mangoes to simply fall when they’re ready, as opposed to manually picking them, ensures optimal ripeness. The resulting mangoes are absolutely delicious. They have very little fibrousness, are extremely juicy, and practically melt in your mouth. The taste itself is perfectly sweet and tart, like mango candy with hints of pineapple and coconut.


In Japan, often meticulously packaged gift fruits are sold behind glass cases at luxury fruit stores, as if they were jewels. Those who receive these perishable gifts will often put them on display and, in the case of certain fruits such as the square watermelon (which is sold under-ripe), they may never be eaten. So although Miyazaki’s mango is arguably more delicious than its Floridian counterpart, the majority of its price tag comes from what it represents.

 

Beside egg of the sun varieties mango, in Hlashimang Chowdhury’s Kra AA agro farm there are Banana, Kiujai, Three Test, Funai, Red Funai, King of Chakpat, Black Star, Amrapali, Kacha Mitha, Rangui, Okrang, Mallika, Keshowai, Nilambori, Philippine, Black King, Mahathir, Bari-4 Bari-11, local Guti Mango, Gourmati, Brunei king, Ashwina, Subarnarekha, Gopalbhog, Okrang etc almost 60 varieties of domestic and foreign and extinct species of mango.

 

Thanks,

 

Related:

Rice Varieties in Bangladesh | BINA and BRRI

Bangladesh Economy and Industrial Revolution

Bangladesh | Rice Production and Export

About Bangladesh Center of Advance Studies

Local or Deshi Fruits in Bangladesh

Exotic or Foreign Fruits in Bangladesh

Export Products to India is Increasing

Made in Bangladesh Cars | Introducing BANGLA CAR

Development of Bangladesh | Top Ten Position in the World | 13 Sectors


Tuesday, April 20, 2021

Dhaka Stock Exchange | Investment Facilities for NRB


A Bangladeshi citizen living abroad with a valid status like foreign country’s permanent resident or with valid work permit is called NRB (Non-Resident Bangladeshi). In case of a foreign passport holder an endorsement either from the relevant Bangladeshi embassy or from Bangladesh foreign ministry stating that “No visa is required” for traveling to Bangladesh – as a proof of dual citizenship.

 

Incentives for Non-Resident Bangladeshis (NRBs):

  • 10% quota in all Initial Public Offerings (IPOs) is reserved for non-resident Bangladeshis.
  • Can also trade in the secondary capital market while abroad through Nominee.
  • There is no Capital Gain tax on individual.
  • Individual Income Tax assessment is similar to any other Resident Bangladeshi.
  • @10% tax rebate on investment allowance on security investment.

 

How to Start:

  • Open Foreign Currency (FC) Account that is needed for channeling foreign currency in as well as repatriation of earnings from investment.
  • Open Non-Resident Investors Taka Account (NITA) that is required for converting foreign currency into BDT.
  • Open a Custodian Account with any of the SEC registered Securities Custodian so that NRB & Foreign Investors may choose to appoint a Custodian to ensure trade execution and safe custody of shares.
  • Open Beneficiary Owners (BO) Account with any brokerage house
  • Assign a Nominee/ Power of Attorney (POA) - optional
  • A nominee for inheritance/transmission, in case something happens to investor, is required to be assigned. Remember that this nominee and the POA may or may not be the same person.

 


Required Documents to open NITA and FC Account:

  • Photocopy of Passport / Social Security Card / Resident Card etc duly attested (if you are situated in a foreign country then attestation needs to be done the respective Bangladesh Embassy or High Commission)
  • Passport size photographs duly attested
  • A Nominee - beneficiary in case of death of the investor. His/her signature and photo (duly attested by the investor) on the prescribed form provided by the brokerage house
  • Employment Certificate / Trade license copy / work permit or Pay slip / tax return document as a proof of earning status of the NRB
  • A nominated person with POA (Power of Attorney) who will sign trading documents on behalf of the NRB while he is abroad. His/her photo (attested by the NRB) and signature in a prescribed form by the brokerage house (POA can be any adult person of legal age residing in Bangladesh)
  • If the broker is a bank then an extra form of KYC (Know your customer will also have to be filled)
  • Initial fund will have to be a cheque or pay order or other allowed form drawn from the FC account

 

Required Documents for Custodian Account:

  • Photocopy of Passport / Social Security Card / Resident Card etc duly attested (if you are situated in a foreign country then attestation needs to be done the respective Bangladesh Embassy or High Commission)
  • Passport size photographs of Account Holder duly attested l Photographs of Authorized person
  • A Nominee - beneficiary in case of death of the investor. His/her signature and photo (duly attested by the investor) on the prescribed form provided by the brokerage house
  • Employment certificate / trade license copy / work permit or Pay slip / tax return document as a proof of earning status of the NRB

 

Required Document for Stock Broking and BO Accounts:

  • Photocopy of Passport / Social Security Card / Resident Card etc duly attested (if you are situated in a foreign country then attestation needs to be done the respective Bangladesh Embassy or High Commission)
  • Passport size photographs of Account Holder duly attested
  • Photographs of Authorized person
  • Photographs of Power of Attorney (POA)
  • A Nominee - beneficiary in case of death of the investor. His/her signature and photo (duly attested by the investor) on the prescribed form provided by the brokerage house
  • Bank Statement or Certificate from FC Account

 

How to Operate from Abroad:

  • Collect the relevant forms from your preferred brokerage house via mail. Fill it up and get the introducer part attested by the local Bangladeshi Embassy as a proof of the NRB status by providing to them the required documents.
  • Get your photos attested by the local Bangladesh Embassy as well
  • Send the forms back to the brokerage house with the Nominee and POA part fi­lled in. Send the POA to the brokerage house.
  • IPO application needs to be ­filled on a prescribed form. Such forms can be obtained through mail, website of issuing company, or through broker etc.
  • Trading in secondary market is done by Buy/Sell order forms.
  • If POA (Nominee) is assigned then the POA need to sign the Buy/Sell order form within 24 hours of order placement
  • If NRB wishes not to assign a POA then orders can be placed via phone or email (broker approval required) and then a signed Buy/Sell order form needs to be faxed to broker within 24 hours
  • Trading will be carried out within prevailing market guidelines
  • Shares will be credited or debited to the BO account accordingly


Note:

If NRB is interested to avail custodian service then it is advisable to try to avail the service collectively. The custodial service provided by the local Custodians in Bangladesh (HSBC Limited, SCB Limited, Dhaka Bank Limited, South East Bank Limited, AB Bank Limited and Citi NA), is done through whole sale window not retail. As such they are not comfortable to provide custodial service to individual in a cost effective manner. The way to get collective custodial service is to contact any fund manager or international broker or global custody service provider in your locality and contact a custodian in Bangladesh through them. In this way you are free to have individual level BO and order placement without any problem through the intermediary. This process will easily enable you to take part in the secondary market with proper legal channels for foreign currency in and out.

For updated and latest information please visit the official website of DSE BD (Dhaka Stock exchange Ltd). 

Thanks,

 

Related:

Best Safe Investment Option in Bangladesh

Dhaka Stock Exchange | Foreign Investors Guide

Safe Investment Ideas | Real Estate


Monday, April 19, 2021

Dhaka Stock Exchange | Foreign Investors Guide


Bangladesh Government provides a very friendly and open investment atmosphere and facilities for foreign investors.  Any Foreigners residing in Bangladesh or abroad willing to invest in Bangladesh Capital Markets are considered as a Foreign Investors.

Guides for Foreign Investors:

  • Open NITA (Non-resident Investment Taka Account) with AD (Authorized Dealer) of foreign currency department of any ­financial institution or through any custodians
  • Select Custodian in Bangladesh (HSBC Limited, SCB Limited, Dhaka Bank Limited, South East Bank Limited, AB Bank Limited and Citi NA)
  • Open BO through custodian
  • Open Trading Account with preferred broker (optional as the custodian will provide the service through holding cash account (NITA) on behalf of the Foreign Investors)
  • Start Trading


NITA Account:

  • Non-resident Investment Taka Account (NITA) is an account for channeling foreign currency in as well as repatriation of earnings from investment
  • All earnings from investments (e.g. Cash Dividends) are credited to the NITA account
  • An audited statement, certifying that all proper taxes are already withheld from the earnings - usually taken care of by the custodian, for fund repatriation purpose

 

BO Account (Beneficiary Owners Account):

  • BO account holds shares purchased or shares credited due to corporate declarations

 

Requirements for opening BO accounts (Individual):

  • Photographs - duly attested
  • Bank Statements
  • Copy of pay slip or tax return (optional as a part of KYC [Know your Customer])
  • Copy of employment certi­ficate or trade license (license to operate business at individual or proprietorship level)
  • Copy of Passport
  • Photographs of Nominee (beneficiary is case anything should happen to investor) and other details
  • Filled other relevant forms
  • Any other requirements by the custodian

 

Requirements for opening BO accounts (Institutional):

  • Copies of Memorandum and Article of Association
  • Certificate of Incorporation
  • Copy of Board resolution permitting investment / trade in Bangladesh
  • Custodian details
  • Copy of Board resolution regarding authorized personal to handle the account and all relevant identification documents as well as specimen signature

 

Corporate Declarations:

  • Cash dividend warrants goes to respective custodian and custodian decides the fate of such as instructed by the FI
  • Share issued by stock dividend declaration goes directly to FI’s respective BO account

 

Common services provided by local Custodians:

  • Account Services
  • Trade settlement Services
  • Registration services
  • Safe keeping services
  • Corporate Action services
  • Foreign Exchange Services
  • Cash management services
  • Market expertise
  • Escrow Services


Trading (Custodian ↔ Broker):

  • Custodian usually receives orders via SWIFT or any other acceptable standard
  • Custodian carries out share and monetary transactions with the local broker
  • DVP (Delivery versus Payment): Delivers shares from FI’s specified BO to Brokers BO upon Receiving Payment only. DVP is applicable for sale orders
  • RVP (Receive versus Payment): Receives shares to FI’s BO account of any other Omnibus BO as specified by FI and makes payment. RVP is applicable for buy orders
  • For DVP the broker sends sale confirmation to FI which in turn is communicated by FI to custodian. Then Broker confirms payment amount and quantity of shares involved with custodian. Then broker pays the custodian to receive the shares.
  • For RVP the broker sends buy confirmation to FI which in turn is communicated by FI to custodian. Then Broker confirms amount and quantity of shares involved with custodian for the transaction. After settlement with the Exchange (after prevailing settlement periods) the broker delivers the shares to the custodian to receive payment for the shares
  • FI send buy/sale order notice to custodian and broker separately either directly or through fund manager/global custodian /international broker
  • After execution of order the broker communicates with custodian to match the order
  • Once the orders are matched the settlement between broker and custodian takes place


 

Tax Rates:

  • No capital Gains Tax on individual (subject to the condition that such assesses is entitled to similar exemption in the country in which he is resident)
  • Income tax is @25% for Individuals
  • 25% tax at source is deducted by issuer in case of cash dividend

 

Important Notes:

  1. Please note that it is advisable to hold BO accounts for each individual. This can be done by the custodians even if the custodian is arranged collectively by multiple investors. This should be done to avoid some regulatory complicacies e.g. avoiding substantial acquisition (10%) at individual investor level etc.
  2. All local custodians provide custodial service at a whole sale level. As such they can easily provide custodial service to any institution or collective investors coming via a global custodian or fund manager or international broker. They may not agree to provide custodial service to individual investors even though there are no legal bindings except for high profi­le individual foreign investor.
  3. Individual FI’s can best avail service if they come collectively through any global custody or fund manager or international broker such that the retail service part is not with the custodian. The local custodians do not have any problem opening BO’s at individual level even if they seek service collectively.

 

For updated and latest information please visit the official website of DSE BD (Dhaka Stock exchange Ltd).

 

Thanks,

 

Related:

Best Safe Investment Option in Bangladesh

NRB Facilities | Dhaka Stock Exchange

Safe Investment Ideas | Real Estate


Sunday, February 28, 2021

Bangladesh Get More GI | Geographical Indication Products


After Jamdani, Hilsa and Kshirshapati Mango, Dhakai Muslin, Silk of Rajshahi, Shataranji of Rangpur, Kalijira of Dinajpur, Kataribhog and White Soil of Vijaypur of Bangladesh were registered as Geographical Indication Products (GI). As a result, these were also recognized all over the world as Bangladesh's own products.

Concerned people said that although all the official work in this regard was finalized in February, the Ministry of Industry has not yet made an official announcement. An announcement could be made next month.

In this atmosphere, World Intellectual Property Day is being celebrated on April 26. On the occasion of the day, a seminar has been organized online by the Department of Patents, Designs and Trademarks, an organization under the Ministry of Industries. This time the theme of the day is 'Intellectual Property and SMEs: Planning and Marketing'.

Industries Secretary KM Ali Azam told that Jamdani was recognized as the country's first GI product in 2016, Hilsa in 2017 and Kshirshapati Mango in 2019. After a long process, all the official work of recognizing Dhaka Muslin, Rajshahi Silk, Rangpur's Shataranji, Dinajpur's Kalijira, Kataribhog and Vijaypur's white soil as GI product of Bangladesh has been finalized in February. However, the government has not yet made an announcement. There are plans to make an announcement soon.

Geographical Indication Products (GI for short) is one of the branches of intellectual property. If a country's soil, water, weather, climate and the culture of its people play the most important role in producing a unique quality product, it is recognized as the GI of that country. It is not possible to produce a product of the same quality anywhere except in that area.


Although Bangladesh is rich in history and heritage, for a long time there was no GI law and there was no opportunity to protect the ownership of the country's geographical indicators. Under the direction of Prime Minister Sheikh Hasina, the Geographical Indicative Products (Registration and Protection) Act, 2013 and the Geographical Indicative Products (Registration and Protection) Rules, 2015 were formulated.

After that the way to register the country's geographical indicator or GI product is easy. The Department of Patents, Designs and Trademarks (DPDT), an organization under the Ministry of Industry, registered Jamdani as the first traditional product in the country in 2016. Then in 2017 Hilsa and in 2019 Kshirshapati Mango were recognized as GI products. This time Bangladesh got six more products.

 

Thanks,

 

Related:

Rice Varieties in Bangladesh | BINA and BRRI

Bangladesh Economy and Industrial Revolution

Bangladesh | Rice Production and Export

About Bangladesh Center of Advance Studies

Local or Deshi Fruits in Bangladesh

Exotic or Foreign Fruits in Bangladesh

Export Products to India is Increasing

Made in Bangladesh Cars | Introducing BANGLA CAR

Wednesday, February 24, 2021

Development of Bangladesh | Top Ten Position in the World | 13 Sectors


Despite being small in size and quite densely populated, Bangladesh has made a Glorious and Enviable position in the World in at least 13 sectors with limited resources in the 50 years since the Independence which indicates Development of Bangladesh. In these sectors, Bangladesh is in the list of top 10 countries in the world. In some cases, Bangladesh has got benefits of nature and geographical location. Most of the success has been achieved by hard work and sincerity of the people of the country.

Some policies and decisions of the Governments of Bangladesh have played an important role in creating such a position worldwide, so has the contribution of the enterprising ordinary people. After the independence, the entrepreneurs have built a strong private sector economy by setting up businesses and industries by facing lots of difficulties and obstacles. Now after 50 years, the world is watching the Development of Bangladesh, Rising Economy of Bangladesh which has achieved by contribution of all. In some cases, the name Bangladesh is marked after big some countries like China and India even first in some cases.

Analyzing the latest data from the Food and Agriculture Organization of the United Nations (FAO), Bangladesh Bank, Department of Agricultural Extension (DAE), Export Promotion Bureau (EPB) and Information and Communication Technology (ICT), Development of Bangladesh has been ranked in the Top 10 in 13 different sectors around the Globe.

 

First in Hilsa (Ilish) production:

Bangladesh accounts for 86% of the total Hilsa produced in the world, which is 5 lac 33 thousand of tons in a year. However, it is believed that the production of Hilsa fish will be 7 lac tons within recent years. Even four years ago, Bangladesh's share in the world's total Ilish production was 65 percent. India is second and Myanmar is third in this sector. Besides, small amount is also produced in Iran, Iraq, Kuwait and Pakistan.

 

First in Jute export, Second in Jute production:

Jute was once known as the Golden Fiber of Bangladesh. Now due to some initiatives taken by the government, Bangladesh has become the first in the world to export jute and jute products. 285 types of products made from jute are now exporting worldwide. Due to recent development of Bangladesh in this sector the country has become the second largest producer of jute in the world. The amount of production is 13 lac 35 thousand tons, which is 42 percent of the total production of the world. India is the first in Jute production which is about 2 million of tons. India accounts for 55% of world production. China is in the third position with 45,000 tons of production.

 

Second in Freelancing or Outsourcing:

Educated youth of the country are now choosing freelance or outsourcing as a profession. Freelancing is the process of concluding work contracts through online with various individuals or organizations and delivering them online. At present, the number of total freelancers in the IT sector in Bangladesh is six lacs, which is about 27 percent of the world's percentage. Due to Development of Bangladesh in this IT sector our country is in the second place. India holds the first position based on the number of freelancers.

 

Second in the Ready-Made-Garments (RMG) Sector:

Bangladesh is now the second largest exporter of readymade garments products in the world. In the last fiscal year 2019-20, Bangladesh exported garments worth USD 27.5 billions, which is 6.8 percent of the world's total garment exports. The RMG sector is playing an important role in the development of Bangladesh economy. China is the first exporter of garments in the world and their share is 30.8 percent. Vietnam is in the third position with 6.2% export share.

 

Second in Jackfruit production:

The world produces 3.7 million tons of jackfruit annually. Bangladesh ranks second in the world in the production of this delicious and healthy fruit. The annual production is 1 million tons. India is the world's largest producer of jackfruit with 1.8 million tons. Indonesia and Thailand holds the third and fourth positions.

 

Second in Goat Milk:

Bangladesh is now self-sufficient in cow and goat production. Bangladesh has taken a place globally by increasing the production of cows and goats. According to the FAO report, Bangladesh has been consistently improving its global index in terms of goat numbers, meat and milk production. In particular, Bangladesh is second in the world in goat milk production and fourth in the world in the number of goats and meat production. India and China are the top two countries in the world in goat production.

 

Third in Freshwater Fish production:

Bangladesh is now the third largest freshwater fish producer in the world. According to the FAO report, despite the poor condition of rivers, the country produces 10 percent of the world's freshwater fish. China is first with 16 percent and India is second with 14 percent production in this sector. According to the FAO, Bangladesh will be the first of the four countries in the world that will achieve huge success in fish farming by 2022 then Thailand, India and China. Fish production has increased by 53 percent in the last 10 years and fish exports have increased by more than 20 percent. By creating huge employment in the rural area this sector is helping the Economy and Development of Bangladesh.

 

Third in Vegetables production:

Bangladesh is the third largest producer of vegetables in the world. The annual production is 16 million tons. In this case, the top position holds by China, the second position by India. Success and diversity in vegetable cultivation has come as a result of private companies inventing and marketing hybrid or high yielding (Ufshi) seeds suitable for year round cultivation. At present, 60 types of vegetables are being produced in the country, with the participation of 16.2 million farmer families.

 

Fourth in Rice production:

The Rice is the main food of Bengalis. After independence, when the total population was 75 million, there was food crisis in the country. We had to continue by importing. But now Bangladesh is self-sufficient in paddy / rice production even after reducing the amount of cultivable land across the country. According to the US Department of Agriculture, Bangladesh produced 52.6 million tons of paddies in the last fiscal year 2019-20, which is the fourth highest in the world. China is the first to produce 148.5 million tonnes, India with 116.4 million tonnes. In a message on the occasion of Krishibids Day on 12 February 2021, Prime Minister Sheikh Hasina said, "The combined efforts of farmers, agriculturists and the current government's favorable agricultural policies and incentives are contributing to the achievement of food self-sufficiency. Land is declining in this densely populated country. Even then, the increase in agricultural production is a surprise to the world.”

 

Sixth in Potatoes:

Bangladesh is now sixth in the world in Potato production. One year before independence, only 9 lac tons of potatoes were produced. Potato production has increased 11 times in last 50 years. According to the FAO estimates, 10.2 million tons of potatoes were produced in the last financial year. China is now the first in the world with 91.4 million tons, and India is second with 49.7 million tons.

 

Eight in Expatriate Income:

More than 10 million Bangladeshis live in different countries of the world, most of whom are workers and labors. They send their hard-earned money to their parents, siblings, wives, sons and relatives in the country. Bangladesh ranks eighth in the world in terms of expatriate income. In the last financial year, the expatriate income or remittance in the country came to about 20 billion dollars. In the same financial year, India is in the first position with 7.8 billion and China is in the second position with 6.7 billion. This foreign remittance is playing a very important role in the economic development of Bangladesh.

 

Eighth in Mango:

Bangladesh is now the eighth largest producer of Mango in the world. The annual production is 2.4 million tons. Before 10 years the position was 10th with 1.25 million tons production. In 2018, Bangladesh rose to the seventh place. India is on top in mango production with a production capacity of 15 million tons. China holds the second place. Now mango is being cultivated all over the country. Himsagar, Gopalbhog, Langra and Fazli mangoes were once cultivated in Rajshahi and Chapainawabganj area. At present, Amrapali mango is being cultivated extensively in the southern and south-western parts of the country.

 

Eighth in Guava production:

Bangladesh is currently ranked at Eighth in the world with 1.05 million tons of Guava production. India is first with 17.6 million tons and China is second with 4.4 million tons. At one time, only local guava was cultivated across the country but the revolution was brought about by Thai variety and Kazi Guava. 10 species of guava have been developed from the Germplasm Center of Bangladesh Agricultural University. Guava is cultivated mainly in the southern and south-western districts of the country.

 

The whole world is watching the development of Bangladesh in various sectors. The pandemic and the global economic crisis have consequently left deep marks on South Asia but Bangladesh, the fastest growing economy in this region, managed to mitigate the decline in the second half of 2020 through recovery in trade and remittances. The economy of Bangladesh is a developing market economy. The production capacity in the above described sectors clearly indicates Sustainable Economic Development of Bangladesh. Once we will hold the position in Top Ten largest economy in the world!

Thanks,

 

Related:

Rice Varieties in Bangladesh | BINA and BRRI

Bangladesh Economy and Industrial Revolution

Bangladesh | Rice Production and Export

About Bangladesh Center of Advance Studies

Local or Deshi Fruits in Bangladesh

Exotic or Foreign Fruits in Bangladesh

Export Products to India is Increasing

Made in Bangladesh Cars | Introducing BANGLA CAR

 

Monday, June 22, 2015

BKB | Bangladesh Krishi Bank Foreign Remittance Services


BKB (Bangladesh Krishi Bank) is one of the largest public bank under the Government if Bangladesh having around 1038 number of branches. The bank was established in 1973, it has started providing Foreign Remittance services since 2001.  The Remittance started services through online in 2014 and now it has reached in 1032 branches of BKB in the country.
  • Foreign Remittance Management Department of Bangladesh Krishi Bank exclusively conducts and manages foreign remittance activities. It has,
  • Around 1032 from 1038 BKB branches offer computerized foreign remittance service through 225 correspondent banks across the globe.
  • All of these branches have internet connection facility.
  • The branches use web based software.
  • People can easily send money to Bangladesh Krishi Bank from any other country.
  • Beneficiaries get money direct in their account from abroad.
  • Remittance can be received using a Pin Code number instantly. A valid photo ID is required to receive money from the cash counter for such spot cash payment.
  • For TT remittances, beneficiaries get SMS confirmation when the remittance reaches the branch online.


List of Exchange Companies having agreement with Bangladesh Krishi Bank for TT Remittance as as follows:

Bahrain:
  • Zenj Exchange

Kingdom of Saudi Arabia – KSA:
  • Alamoudi Exchange

Kuwait:
  • Al Mulla International Exchange
  • Al Muzaini Exchange
  • Bahrain Exchange
  • Dollarco Exchange

Malaysia:
  • CBL Money Transfer
  • IME
  • NBL Money Transfer

Oman:
  • Oman International Exchange
  • Oman UAE Exchange

Qatar:
  • Habib Qatar International Exchange
  • Trust Exchange

United Arab Emirates – UAE:
  • Al Ahalia Money Exchange Bureau
  • Al Ansari Exchange
  • Al Falah Exchange
  • Al Rostamani International Exchange
  • Cash Express
  • Index Exchange
  • Lari Exchange Establishment
  • Lulu International Exchange
  • Orient Exchange
  • UAE Exchange Center
  • Wall Street Exchange Center

United States of America – USA:
  • Prabhu Money Transfer
  • Trans-Fast Remittance

List of BKB partners in Bangladesh which are Foreign exchange companies to receive spot cash in any of the BKB branches.

Name and Numbers:
  • Agrani Exchange Singapore, +88-017090643294, 017090643295
  • BRAC SAAJAN, +88-01709643296
  • Cash Express, +88-01709-673790, 01709-673791
  • CBL Money Transfer – Malaysia, +88-01709-656603, 01709-656604
  • First Security Islami Exchange (Italy) , +88-01709643290
  • Instant Cash, +88-01709643291
  • Max Money – Malaysia, +88-01755586901
  • Merchantrade – Malaysia, +88-01777-743967, 01777-743968
  • MoneyGram (Global), +88-01709643292, 01709643293
  • Mukuru (South Africa), +88-01709643287
  • NBL Money Transfer – Malaysia, +88-01730-476909, 01730-476910
  • NBL Money Transfer - Singapore, +88-01730-476909, 01730-476910
  • Placid Express, +88-01755586902
  • Prabhu Money Transfer, +88-01787-662518, 01787-662519
  • RIA Money Transfer, +88-01709-643298, 01709-643299
  • Trans-Fast Remittance (Global), +88-01790-121152, 01790-121153
  • Western Union (Global), +88-01730-708996, 01730-708997, 01730-708998
  • Xpress Money (Global), +88-01755-586903, 01755-586904

For updated list and latest update about foreign remittance services of Bangladesh Krishi Bank, please visit the official website.

Thanks,


Related:

Thursday, June 4, 2015

Janata Bank Remittance | Exchange House List-3


Janata Bank Limited (JB) is one of the largest public banks in Bangladesh. The bank has Taka Drawing Arrangement with lots of Foreign Banks and Exchange Houses abroad. Bangladeshi working abroad can send remittance to the branches of Janata Bank Ltd located across the country. Relatives and beneficiaries of expatriate Bangladeshis may contact any office of JB or the country wise exchange house list below with details:

United Arab Emirates (UAE):

Instant Cash FZE
Address: P.O. Box 3014 Dubai - United Arab Emirates,
Phone: +971 4 2990011, Fax: +971 4 2991394
E-mail: sudipto@instantcashworldwide.com,
sanjana@instantcashworldwide.com,
ictreasury@instantcashworldwide.com
Web: www.instantcashworldwide.com

Universal Exchange Center LLC
Address: P.O. Box 82471, Baniyas Road (Naser Square), Opp. Al Khaleej Hotel, Deira- Dubai, United Arab Emirates
Phone: +971 04-2288810, Fax: +971 04-2288411
E-mail: fi.relationship@uniremit.com,
murtaza@universalexchange.net, toseef@uniremit.com

Al Zarooni Exchange
Address: P.O. Box 116348, Naif Road, Deira, Dubai, U.A.E,
Phone: +971-556730117, Fax: +971-42731600 / 42717866
E-mail: br@alzarooniexchange.ae
Web: www.alzarooniexchange.ae

Joyalukkas Exchange
Address: P.O Box 12928, Dubai, UAE
Phone: +971 4 2522900, +971 561711544, Fax: +971 4 2566120
E-mail: ajoe@joyalukkasexchange.com, rathishkumar@joyalukkas.com

Arab Link Money Transfer-P.S.C
Address: Showroom No.1 Tourist Club P.O Box 108343 Abu Dhabi, UAE
Phone: +971- 02-6509900, Fax: +971- 02-6509977
E-mail: ambreen@arablink.com, pushpak.damania@arablink.com,
derek@arablink.com, fareed@arablink.com

Lulu International Exchange LLC
Address: PO Box 5379, Level 9, Madinat Zayed Office Tower, New Airport Road, Abu Dhabi, U.A.E.
Phone: +971 2 654 7011, Fax: +971 2 654 7005
E-mail: mohamed.shanil@luluexchange.com,
amitab.das@bd.luluexchange.com,
gopal.krishna@luluexchange.com,
sijo.george@luluexchange.com,
sajin.khalid@luluexchange.com, info@luluexchange.com

Emirates India International Exchange L.P.C.
Address: Post Box No. 7190, Dubai, U.A.E
Phone: +971 4 337 4072, +971 506744515, Fax: +971 4 337 4071
E-mail: ali.shattaf@emiratesexchange.ae, abhijit@emiratesexchange.ae,
rajshekar@emiratesexchange.ae, alexius@emiratesexchange.ae,
hitesh@emiratesexchange.ae

Al Ghurair Exchange LLP
Address: Office No. 401 & 402,4th Floor Acico Business Park Port Saeed (Plot No.129-392) Sheikh Rashid Road, Deira Dubai, UAE,
Phone: +9714 2535600, +9714 253566, Fax: +9714 2504547
E-mail: jinu.rajan@saraf.ae, Asad.Ataher@saraf.ae
Web: www.alghurairexchnage.com

Alfalah Exchange Company
Address: P.O. Box: 3692, Abu Dhabi, United Arab Emirates
Phone: +971-2-632 9888, Fax: +971-2-634 6849
E-mail: skhan@alfalahexchange.ae, shahid.gul@alfalahexchange.ae,
AsifAnwer@alfalahexchange.ae

Wall Street Exchange Centre LLC
Address: P.O. Box 3014, Dubai, U.A.E.
Phone: +971 4 2302350, +971 50 6595589, +0971502497362, Fax: +971 4 2980144
E-mail: hsudhakar@wallstreet.ae, radhakrishnan@wallstreet.ae, 
communication@wallstreet.ae
Web: www.wallstreet.ae

Federal Exchange
Address: Po Box 1038, Naif Road Deira, Dubai U.A.E.
Phone: +971-4225 6773, 225 8421
Fax: +971-4 2262202
E-mail: kazi@federal-ex.com

Al Rostamani International Exchange
Address: P.O. Box 10072 Dubai, UAE
Phone: +971 4609 8100 (G), +971 4 609 8106 (D), +971 50 1527756, Fax: +971 4 396 4233
E-mail: subramaniamvv@alrostamanigroup.ae,
mohammadr@alrostamanigroup.ae

Index Exchange LLC (formerly Habib Exchange Co. LLC)
Address: Central Office Office 201, Sons of Jassim Darwish Building, Plot C-15, Sector 4, Zayed 1st Street, Khalidiyah, Abu Dhabi, U.A.E
Phone: + 971 2 6272318, Fax: + 971 2 6217764, +971 50 7919647

Al Ahalia Money Exchange Bureau
Address: PO Box 2419, Abu Dhabi, UAE.
Phone: +971-2 627 0004, Fax: +971-2 627 0004
E-mail: mahesh@ahaliaexchange.com,
bankingoperations@ahaliaexchange.com,
aebdhaka@yahoo.com, aebdhaka@gmail.com,
remittance@ahaliaexchange.com

Al Fardan Exchange
Address: PO Box 498, Abu Dhabi, UAE.
Phone: +971-2-6223222, Fax: +971-2 6223331, 6221238
E-mail: nair@alfardanexchange.com, saif@alfardanexchange.com,
atif@alfardanexchange.com, sudhakaran.av@alfardanexchange.com, 
nur.ferdaushi@alfardanexchange.com

Al Ansari Exchange LLC
Address: Al Ansari Business Center, Level 8 Al Barsha 1, behind Mall of Emirates P.O box 6176, Dubai, UAE
Phone: +971 4 3772890-93, Fax: +971 4 3255295
E-mail: wilson.thomas@alansari.ae, chris.tan@alansari.ae,
audrey.manlapig@alansari.ae, bankingrelations@alansari.ae,
Web: www.alansariuae.com

UAE Exchange Centre LLC
Address: Corporate Office, Post Box 170 Abu Dhabi, UAE
Phone: +971 2 6105555, Fax: +971 2 6321767
E-mail: correspondent.banking@uaeexchange.com, hq@uaeexchange.com,
lakshmi.menon@uaeexchange.com, sumaiya.tasnim@uaeexchange.com,
abdul.khaleque@bd.uaeexchange.com

Lari Exchange
Address: PO Box 988, Abu Dhabi, U.A.E.
Phone: +971-2-6223225/6/7
Fax: +971-2 6223220
E-mail: lariuae@lariexchange.com, mohammed.islam@lariexchange.com,
mohammed.nadimuddin@lariexchange.com, FuaadLari@lariexchange.com,
dilawar.khan@lariexchange.com

United Kingdom (UK):

BRAC Sajaan Exchange Ltd.
Address: 147 Lozells Road Birmingham, B19 2TP, United Kingdom
Phone: +44 121 515 4008, Fax: +44 121 515 4937
E-mail: a.salam@bracsaajanexchange.com,
avinash@bracsaajanexchange.com

Eastern Union Remittance & Exchange Ltd.
Address: Head Office 75 White chapel Road E1 1DU London United Kingdom
Phone: +44-207-247-4827, Fax: +44-207-392-2053
E-mail: md@easternunion.com.bd, info@easternunion.com.bd,
eudhaka@yahoo.com, data@easternunion.com.bd

United States of America (USA):

Money Gram Payment System, Inc.
Address: 1550 utica Avenue, Minneapolis, MN 55416, USA
India Address: MoneyGram International, IFCI Building, 12th Floor, 61 Nehru Place, Delhi, 110019
Phone: + 911146861009, + 91971742011
E-mail: sgaine@moneygram.com

Choice Money Transfer Inc. (a member of Small World Group)
Address: Empire State Building 350, fifth Avenue, Suite -1016, New York, NY 10118 U.S.A
Phone: +1-212-268-9290, Fax: +1-212-268-9245
E-mail: mohammed.rahman@smallworldfs.com,
joseph.neuschatz@smallworldfs.com,
cs.bangladesh@choicemoneytransfer.com,
juangomez@choicemoneytransfer.com

Continental Exchange Solutions, Inc
Address: dba Ria Financial Services, 6565 Knott Avenue, Buena Park, California 90620, U.S.A.
Phone: 562-345-2673, +44 20 7486 4233, Fax: 562-345-2632
E-mail: sshamsi@riafinancial.com, skanjilal@riafinancial.com,
jbianchi@riafinancial.com

Prabhu Group Inc
Address: 37-15, 73rd Street Jackson Heights, NY 11372, New York, U.S.A.
Phone: +1-718 651 6060, Fax: +1-718 651 6080
E-mail: prabhu@prabhugroupusa.com, kusum@prabhumoneytransfer.org,
prabhugroupusa@gmail.com, kusum.prabhugroupusa@gmail.com, 
usum@prabhugroupus.com

Trans Fast Remittance LLC
Address: 44, Wall Street, Suit #400 New York, NY 10005, USA
Phone: +1-212-382-2828, Fax: +1-212-908-1190
E-mail: khairuzzaman.zaman@yransfast.com, info@transfast.com

Western Union Network (France) SAS (Western Union)
Address: 100 Summit Avenue, Montvale, New Jersey 07645, USA,
Phone & Fax: +1-201 263-6374, +1-201 263-6384
E-mail: Matiur.Rahman@westernunion.com

Placid NK Corporation
Address: 400 Post Avenue Suit# 101 Westbury New York 11590 USA
Phone: +1 718 392 3500
Fax: +1 718 777 1597
E-mail: drkamal@placid.net, hoq@placid.net, 
rashid.office@placid.net, mohammed.mohsin@placid.net,
plasys@placid.net, plaacc@placid.net

To know more details about JB Remittance facilities and updated lists please visit the official website of Janata Bank Limited.