About Us

A Brief Description

Sonali Exchange Co. Inc. is an MSB licensed from New York, New Jersey, Michigan, Maryland, Georgia, Florida, Virginia and Connecticut. The Corporate Office of the Company is in New York, with nine (9) branch locations in these states. Sonali Exchange Co. Inc. started its operation back in December 1994. Since then, Sonali Exchange Co. Inc. has become a household name among the Bangladeshi community in the USA due to its enviable trustworthiness and quality of services.

Sonali Exchange Co. Inc. is owned by Sonali Bank PLC Bangladesh.

The main strength of the company is the trustworthiness of its customer base all over the States, and we always prioritize their satisfaction by providing a faster, more reliable, and more secure service.

Corporate Profile of Sonali Exchange Co. Inc.

Name	Sonali Exchange Company Inc.
Chairman	Mr. Muhammed Mahbubur Rahman
Board of Directors	Mr. Muhammed Mahbubur Rahman - Chairman (Chairman, Sonali Bank PLC Bangladesh) Mr. Md. Shawkat Ali Khan - Director (CEO and MD, Sonali Bank PLC Bangladesh) Mr. Md. Ataur Rahman - Director (Ex-General Manager, Sonali Bank PLC Bangladesh) Mr. Mohammad Mohsin Kabir - Director (Ex-officio) (President and CEO, Sonali Exchange Company Inc.)
President and CEO	Mr. Mohammad Mohsin Kabir
Legal Status	Corporation
Date of Incorporation	22 December 1993
Registered Office	31-10 37th Ave, Suite#303, 3rd Floor, Long Island City, NY 11101, USA
Ownership	Sonali Bank PLC, Bangladesh.
Authorized Capital	$2,000,000.00
Paid up Capital	$1,150,000.00
Number of Employees	20
Number of Branches	9
Phone Number	212-808-0790
Fax Number	212-808-0791
Email	sonali@sonaliexchange.com
Website	www.sonaliexchange.com

 

Vision: To serve the community by channeling the Foreign Remittance to the desired destination of the sender legally.

Slogan: Secured, Fast, Reliable

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Mr. Muhammed Mahbubur Rahman (Chairman, Sonali Bank PLC and Sonali Exchange CO. INC. USA)

Muhammed Mahbubur Rahman is a distinguished civil servant and a senior member of the Bangladesh Civil Service (Administration Cadre), belonging to the 13th batch. With an illustrious career spanning over three decades, he has made remarkable contributions to public administration, governance, and policy implementation in Bangladesh.

He retired as a Secretary to the Government of the People’s Republic of Bangladesh in 2025. Over the course of his career, he held a number of key positions, including Member (Secretary) of the Planning Commission, Additional Secretary in the Cabinet Division, and senior leadership roles in the Ministry of Youth and Sports, the Road Transport and Highways Division, the Ministry of Textiles and Jute, the Ministry of Housing and Public Works, and the Ministry of Food, where he played a pivotal role in advancing food security, policy analysis, and administrative reforms. A sports enthusiast, he also serves as the President of the Bangladesh Sepak Takraw Association.

Mr. Rahman began his career in 1994 as an Assistant Commissioner and has since served in a wide range of field and administrative capacities, including Upazila Nirbahi Officer (UNO) of Keraniganj, Assistant Commissioner (Land) in multiple jurisdictions, and various leadership roles across ministries. His career reflects a unique blend of grassroots experience and high-level policy-making expertise.

He is widely recognized for his exemplary leadership, integrity, and unwavering commitment to public service. In recognition of his ethical standards and professional excellence, he was awarded the Integrity Award in 2019.

Mr. Rahman’s long-standing service reflects his enduring dedication to strengthening public institutions and advancing effective governance in Bangladesh. He comes from a bona fide Muslim family based in Cumilla Sadar.

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Md. Shawkat Ali Khan (CEO and MD, Sonali Bank PLC and Director, Sonali Exchange CO. INC. USA)

Md. Shawkat Ali Khan has officially joined Sonali Bank PLC as its CEO and Managing Director. His appointment was formalized by the Financial Institutions Division of the Ministry of Finance through a letter dated October 21, 2024. Before this role, he served as the Managing Director of Bangladesh Krishi Bank and held the position of Deputy Managing Director at Rupali Bank PLC.

With 26 years of banking experience, Md. Shawkat Ali Khan brings expertise across various departments, including Administration & HR, Industrial Credit, General Credit & SME, Agro and Rural Credit, Micro Credit, Foreign Trade Finance, Home Loan, Anti-Money Laundering, ICT, and Legal Affairs. His leadership roles have included serving as CAMLCO, CFO, and CRO within these departments.

He began his career as a Senior Officer in Rupali Bank PLC in 1998, selected by the Bankers' Recruitment Committee (BRC). Khan holds a BSc (Honours) and MSc in Chemistry from Jahangirnagar University and an MBA in Banking from the University of Dhaka. Among his achievements, he was recognized with a letter of appreciation for his significant contributions to formulating the home loan policy for government employees under the Ministry of Finance.

Throughout his career, he has actively participated in various seminars, training programs, and symposiums, both domestically and internationally. Md. Shawkat Ali Khan hails from a respected Muslim family in Sakhipur upazila, Tangail district.

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Mr. Md. Ataur Rahman (Director, Sonali Exchange CO. INC. USA)

Mr. Md. Ataur Rahman joined in Sonali Bank PLC in 1984. During his career with Sonali Bank, he held many responsibilities in different Divisions of the Head Office of the Bank and also in the Regional Offices. He has served in Sonali Bank UK Limited from 1991 to 1993 and was the President and CEO of Sonali Exchange Co. Inc. USA from 2007 to 2011. He retired from Sonali Bank PLC as a General Manager in 2017 and resided in New York, USA. The authority of Sonali Bank PLC has appointed him as a local director of Sonali Exchange Co., Inc., in 2020. Mr. Ataur was born in a respected noble Muslim family in the district of Kurigramr, Bangladesh. He is blessed with one son and one daughter.

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Mr. Mohammad Mohsin Kabir (President and CEO, Director (Ex-officio), Sonali Exchange CO. INC. USA)

Mr. Mohammad Mohsin Kabir joined Sonali Bank PLC in 2009 as a senior officer, selected by the Bankers' Recruitment Committee (BRC-2008), and served as manager of different important branches of the bank in Dhaka, Bangladesh. He also played a significant role in different branches, corporate offices, and important divisions of the head office of the bank. Before joining as the President and CEO of Sonali Exchange Co., Inc., on August 15, 2024, he was the Assistant General Manager of Small and Medium Enterprise Division and Foreign Remittance Management Division, Head Office, Dhaka, Bangladesh.

Mr. Mohsin holds a Master of Development Studies (MDS) degree from the University of Dhaka, Bangladesh. He graduated with honors in social work from Shahjalal University of Science and Technology, Sylhet, Bangladesh. He holds the designation of Certified Anti-Money Laundering Specialist (CAMS) in 2025, awarded by ACAMS, USA.

Mr. Mohsin is a big fan of traveling and has visited countries like the USA, Dhubai, Italy, Singapore, Malaysia, and Indonesia.

Mr. Mohsin was born into a respected noble Muslim family in Dhaka. In his personal life, he is married. His wife, Mrs. Tunazzina Bishwas, is a homemaker by profession. They are blessed with a lovely daughter, who is studying in grade 6 at a school in New York, USA.

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Management Team:

Mr. Mohammad Sadat Hossain	IT Manager and Company Secretary,
Mr. GM Nurul Haque	Accounts and Compliance Officer,
Kazi Md Khaled Bib Aziz	Manager and Vice President, Jackson Heights Branch,
Md. Emran Hossain Bhuyain	Manager and Vice President. Jamaica Branch

Nationwide Multi-State Licensing System (NMLS) ID # 1098789

Licensed States

Licensed States	Regulators
New York	Department of Financial Services, New York.
New Jersey	Department of Banking and Insurance, New Jersey.
Michigan	Department of Insurance and Financial Services, Michigan.
Georgia	Department of Banking and Finance, Georgia.
Maryland	Maryland Department of Labor, Licensing, and Regulation- Office of the Commissioner of Financial Regulation.
Florida	Florida Office of Financial Regulation.
Virginia	Virginia Bureau of Financial Institutions.
Connecticut	Connecticut Department of Banking.

 

Our Services

Real-Time Transmission

Our prime service as an MSB is Money Transmission to Bangladesh. We transmit money to any Bank and MFS (Bkash and NAGAD) in Bangladesh electronically in Real-time.

How we Serve You:

You may send the money to Bangladesh to the receiver’s Bank Accounts with any Bank and in cash (Cash pickup/ Spot Cash) by the following ways:

Office counter:

Senders can send money to their family, friends, or others in Bangladesh. Visit any of our office locations and deposit the transferable money in cash or by check. The officer on the counter will issue a Money Receipt after generating the transaction within a minute.

Mail a Check:

Senders can mail a check to any of our office addresses. The check has to be issued in favor of “ Sonali Exchange Company Inc.” Please download the “Transfer Request” form (from Download Forms) sent to us along with the check.  

Sonali Exchange Mobile App (Online):

Senders may use our Sonali Exchange Mobile App (also on this website from the web version) to send money to Bangladesh. Download the App from your Apple Store or Google Play Store (Brand name Sonali Exchange Co. Inc.) and open your online account for sending money. Please see the user manual for details.

Always Provide the following for sending money:

For Bank Account:	For Cash Pickup and Bkash/ Nagad
1. Receiver Name: 2. Receiver Account Number: 3. Bank Name: 4. Branch Name:	1. Receiver Name: 2. Receiver Account Number: (Only from Sonali Bank).

Note: Request the receiver to carry his/her NID of Bangladesh to the Bank for cash pickup.

How we deliver the service:  

Bank Account:

You may send the funds to the receiver's Bank Account with any Bank in Bangladesh.

Cash Pick-up:

You may send the money using the Name and Mobile Number. They will have to pick up the money from any branch of Sonali Bank. Make sure that the receiver carries their Bangladesh NID.

MFS Service:

You may use the Bkask platforms. Inform our customer service officer that you want to send money receivable through Bkash.