Agrani Remittance House Canada Inc. : A glimpse

After approved by the Bangladesh Bank, Agrani Bank Limited opened its subsidiary, a 100 % owned, Agrani Remittance House Canada Inc. (ARHC Inc.), a federally incorporated ( by which the company is able to do business all over the Canada in same registration) company, registered under the Canada Business Corporation Act of Industry Canada, as on May 11, 2012 with an objective to serve the expatriate Bangladeshi community in Canada, as a part of Agrani Bank Limited’s social commitment to the people of the country. To comply with the Money Service Business (MSB) regulations of Canada, ARHC Inc. is also registered with the Financial Transactions and Reporting Analysis Centre of Canada (FINTRAC).

The Board of Directors of Agrani Remittance House Canada Inc. is constituted with 5 members; among them, the Chairman is nominated from the Board of Directors of Agrani Bank Limited, Managing Director & CEO of Agrani Bank Limited, Deputy Managing Director of Agrani Bank Limited and One Canadian Citizen born in Bangladesh. Mohammed Khurshed Alam, Asstt. General Manager has been appointed as Director & CEO of Agrani Remittance House Canada Inc.

ARHC Inc. is the only subsidiary company of a Government Bank of Bangladesh, is strategically located at 2960 Danforth Avenue, Toronto, Ontario, Canada; the highest Bangladeshi concentrated area of Canada., and started its operation on May 26, 2014 and despite of strong competition and challenges. Within a short spun of time, ARHC Inc. has achieved a substantial progress and remitted more than One Million Canadian Dollars (CAD) and day by day increasing its business volume and offering remittance services to the community.

As the business is increasing, more and more people are showing interest to send their hard earned money in legal Banking channel. The Board of Directors of ARHC Inc., are actively considering for opening its second location in Montreal, Quebec (the 2nd largest city of Canada) and in near future, in the west coast of Canada.

Apart from the regular remittance, ARHC Inc. is also helping our community for opening all types of Bank Accounts, FDR, Wage Earner’s Bond, US$ Premium Bond, ABS, APS etc. and offering advisory services for investment in Bangladesh within the Agrani Bank Limited. In the short span of time, more than 30 clients have already used these services and invested their money and contributed to the economy of Bangladesh.