About Us

A Brief Description

Sonali Exchange Co. Inc. (SECI) is an MSB licensed from New York, New Jersey, Michigan, Maryland, Georgia, and Florida. The Corporate Office of the Company is in New York, with ten (10) branch locations in these states. SECI started its operation back in December 1994. Since then, SECI has become a household name among the Bangladeshi community in the USA due to its enviable trustworthiness and quality of services.

SECI 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 Company Inc. (SECI)

Name	Sonali Exchange Company Inc.
Chairman	Mr. Ziaul Hasan Siddiqui
Board of Directors	Mr. Ziaul Hasan Siddiqui - Chairman (Chairman, Sonali Bank PLC Bangladesh, Ex-Deputy Governor, Bangladesh Bank. Bangladesh). Mr. Md. Afzal Karim - Director (CEO and Managing Director, Sonali Bank PLC. Bangladesh ) Md. Ataur Rahan - Director (Ex-General Manager, Sonali Bank PLC Bangladesh.) Mr. Devasree Mitra - Director (Ex-officio) (President and CEO, Sonali Exchange Company Inc.)
President and CEO	Mr. Devasree Mitra
Legal Status	Corporation
Date of Incorporation	22 December 1993
Registered Office	336, E 45 Street. 8th Floor. New York-10017, USA
Ownership	Sonali Bank Limited, Bangladesh.
Authorized Capital	:$2,000,000.00
Paid up Capital	$1,150,000.00
Number of Employees	17
Number of Branches	10
Phone Number	202-808-0790
Fax Number	202-808-0791
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

Mr. Ziaul Hasan Siddiqui

Mr. Ziaul Hasan Siddiqui has been Chairman of Sonali Bank Limited since August 22, 2019. Before, he was Deputy Governor of Bangladesh Bank (The Central Bank of Bangladesh).
Mr. Siddiqui also held the following ex officio positions at home and abroad:
Deputy Governor:
Bangladesh Bank (The Central Bank of Bangladesh)
Chairman:
The Board of Directors, Bangladesh Commerce Bank Limited
Executive Director:
Bangladesh Bank (The Central Bank of Bangladesh)
Managing Director:
Security Printing Corporation of Bangladesh
Independent Director:
Union Capital Ltd (Financial Institution) and four other power-generating companies of Summit Group
Director:
The Board of Directors, Karmashangthan Bank, Bangladesh
Advisor:
Prime Bank Limited
Head:
Financial Intelligence Unit
Academic Position

1. Taught BAFN 205 at ACU S1- 2018
2. Taught BUS112 and ECON200 at ACU S1 2019
3. Professor of Practice in BRAC Business School, BRAC University
1. Taught units:
1. ECO 501 Microeconomics (International University of Business and Technology, Dhaka)
2. ECO 502 Macroeconomics (BRAC University, Dhaka)

Selected Qualifications

1. 1989: Master of Public Administration (MPA) from Harvard University, USA (GPA: A-)
2. 1974: Master of Economics (MA) Dhaka University, Bangladesh
3. 1973: Bachelor of Economics(Hons), Dhaka University

Special Assignments

1. Led a team to create the Bangladesh Infrastructure Finance Facility Fund (BIFF).
2. Led Bangladesh side during its first Sovereign Rating by S&P and Moody’s.
3. Played a crucial role in making the Taka convertible for current international transactions and transiting from fixed to floating exchange rate regime.

Mr. Md. Afzal Karim Director
Md. Afzal Karim joined state-owned Sonali Bank PLC as CEO and Managing Director on 28 August 2022. He was appointed to this position by the consent of GoB provided through the letter dated 14 August 2022 of the Financial Institutions Division, Ministry of Finance. Before his new assignment, he served the Bangladesh House Building Finance Corporation (BHBFC) as Managing Director.

He had previously worked as Deputy Managing Director of Sonali Bank Limited and Bangladesh Krishi Bank, respectively. Mr. Karim was only awarded the Integrity Award among all MDs and CEOs of Banks and Financial Institutions under the Financial Institution Division, Ministry of Finance, for the 2021-2022 financial year in recognition of his honesty and efficiency.

Having 35 years of diversified experience in banking and other organizations, Md. Afzal Karim started his career at Bangladesh House Building Finance Corporation as Senior Principal Officer in 1995 and later on served as Deputy General Manager and General Manager (Current Charge) in BHBFC and General Manager of Bangladesh Krishi Bank with the responsibilities of various departments. Before joining BHBFC, he worked for eight years in different responsible positions in four other domestic and foreign organizations, including government institutions.

He obtained a BSC in Mechanical Engineering from Khulna University of Engineering and Technology. He also received a Post Graduate Diploma in Industrial Management (PGDIM) from the Bangladesh Institute of Management (BIM) and an MBA (Major in Finance and Banking). He participated in various training courses, seminars, and workshops on banking activities held at home and abroad and traveled to multiple countries, including Singapore, Thailand, Malaysia, Indonesia, and Italy.

Md. Ataur Rahan, Director

Md. Ataur Rahan joined Sonali Bank Limited as a Senior officer 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 Sonali Bank UK Limited and was the President and CEO of Sonali Exchange Company Inc. from 2007 to 2011 and performed his duties successfully.

He retired from Sonali Bank as a General Manager in 2017 and resides in New York. Sonali Bank authority has appointed him as a Director of Sonali Exchange Company Inc. in 2020.  

Mr. Devasree Mitra President and CEO, Director (Ex-officio)

Mr. Devasree Mitra joined Sonali Bank Limited in 1998 as a Senior Officer and has served as Manager of different Branch offices for over Twelve years. Before his transfer to Sonali Exchange as President and CEO, he was posted in the Foreign Remittance Management Division of Sonali Bank PLC, Head office in Dhaka, Bangladesh.

Management Team:

Mr. Mohammad Sadat Hossain,	IT Manager and Company Secretary,
Mr. GM Nurul Haque,	Accounts and Compliance Officer,
Mr. Nawab Hossen,	Manager and Vice President, Jackson Heights Branch,
Mrs. Tarana Chowdhury,	Manager and Vice President. Jamaica Branch

Nationwide Multi-State Licensing System (NMLS) Number:  

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.

 

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.  

Mobile App (Online):

Senders may use our 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 SECI) 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.

BLAZE Service:

For instant cash receiving, use the BLAZE service for non-Sonali Bank Account holders. It’s easy; inform our customer service associate if you want to use the BLAZE service.

MFS Service:

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