On 23 September 2023, National Exchange Company marked a historic moment by celebrating its 20th Anniversary through a grand ceremony in Rome, Italy. This milestone represents two decades of trust, dedication, and unparalleled service to millions of expatriates living across Italy. Founded with the mission of providing fast, secure, and reliable remittance services, the company has successfully built a strong foundation based on transparency, customer satisfaction, and technological advancement.

The anniversary celebration served as a tribute to the extraordinary journey undertaken by the company. It was an occasion to reflect on the hard work, resilience, and unity that brought National Exchange Company to where it stands today. Thousands of remitters, partner agencies, diplomats, community leaders, and esteemed guests arrived from different regions of Italy to participate in the event, turning the venue into a gathering of pride, gratitude, and celebration.

A Grand Celebration in the Heart of Rome

The event was hosted in Rome, where distinguished guests and valued partners joined to celebrate the company’s continued progress. Guests were warmly welcomed with flowers and gifts, a gesture reflecting the company’s appreciation for their ongoing support. The beautifully decorated venue created an atmosphere of joy and dignity, setting a tone filled with reflection, recognition, and celebration.

The program officially began with a beautiful recitation from the Holy Qur’an. This spiritual beginning was followed by the national anthem and introductory remarks, creating a respectful and uplifting atmosphere. The early part of the evening set the stage for speeches, recognitions, and reflections that highlighted the company’s extraordinary evolution over the past two decades.

From the very beginning, it was evident that this was not just a corporate event—it was a gathering that symbolized the strong connection between the Bangladeshi diaspora in Italy and their homeland. For two decades, National Exchange Company has served as a vital remittance bridge between families separated by distance, allowing millions to support their loved ones back home. This celebration highlighted both the emotional and economic significance of that bond.

Honourable Guests Who Graced the Ceremony

The presence of distinguished guests made the event even more memorable. Presiding over the ceremony was the esteemed Chairman of National Exchange Company, Haji Mohammed Idrish Farazy, whose visionary leadership has defined the company’s progress since its inception. His dedication, strategic insight, and personal involvement have guided the organization through challenges, expansion, and continuous innovation. Alongside him, the respected Vice Chairman, Mr. Mohammad Jahangir Farazy, and Directors Mr. Ikram Farazy, Haji Abdul Wahab Fakir, Dr. Anower Farazy, and Mr. Babul Moral added significance to the ceremony with their presence and contributions. 

The event was further elevated by high-profile diplomatic attendees. The Honourable Ambassador of Bangladesh in Italy, Mr. M. Shameem Ahsan, attended as the chief guest, acknowledging the crucial role of remittance in national development. His participation reflected the strong partnership between the Bangladeshi community and organizations that support their financial needs abroad. The ceremony also welcomed Mr. Jagath Wellawatte, Honourable Ambassador of Sri Lanka to Italy, and Ms. Humaira Azam, Managing Director and CEO of Trust Bank Limited, as special guests. Their presence demonstrated an international appreciation for the company’s commitment to excellence, compliance, and community service.

Honoured Senior Officials and Compliance Experts

The event honoured several key professionals whose dedication ensures that National Exchange Company operates with the highest standards of compliance, transparency, and risk management. These individuals include:

• Ezio Marocco, President – Advisor & Compliance
• Mr. Giovanni Amendola, Head of Anti–Money Laundering
• Mr. Thomas Kraicsovits, Internal Audit
• Mr. Giuseppe Alfieri, Compliance Responsible & Risk Manager
• Mr. Roberto Riccomagno, Risk Management Officer
• Mr. Consentino Valerio (President)
• Mr. Zenobio Pasquale
• Mr. Feresin Enrico
• Mr. Alberto Rinaudo

Alongside these respected members, many other officials of the company attended the event, contributing to its grandeur and success. Each of them played a vital role in strengthening the company’s regulatory framework and ensuring safe and secure operations across Italy. In recognition of their outstanding efforts, they were presented with honorary crests by the company, symbolizing appreciation for their continuous contributions.

 

Inspiring Speeches from Diplomatic and Industry Leaders

A central highlight of the event was the series of speeches delivered by the chief and special guests. Ambassador Mr. M. Shameem Ahsan praised National Exchange Company for its crucial role in supporting the Bangladeshi migrant workforce in Italy. He emphasized that remittances are a lifeline for Bangladesh’s economy and commended the company for ensuring fair rates, secure transfers, and a strong agent network across Italy.

Special guest Ms. Humaira Azam acknowledged the company’s strong approach to compliance and customer satisfaction, noting that such commitment is essential for long-term success in the financial services sector. She emphasized the importance of maintaining transparency, adopting digital innovation, and reinforcing customer trust—values that National Exchange Company has consistently upheld.

The speeches carried a clear message: remittance companies like National Exchange Company are pillars of economic stability for families and communities back home. The responsibility, dignity, and trust associated with remittance services were deeply appreciated by all attendees. 

Praise for National Exchange Company

The distinguished guests highlighted the company’s significant contributions to the remittance industry and the expatriate community. Their key points included:

• Consistent delivery of fast, secure, and reliable remittance services
• Establishment of a vast network of agent points throughout Italy
• Dedication to compliance, transparency, and international regulatory standards
• Significant contributions to Bangladesh’s and other countries’ economies through formal remittances
• Exceptional customer service and strong community presence

   

These praises underscored the company’s commitment to excellence and its position as a trusted leader in Italy’s remittance sector.

Award Ceremony: Celebrating Remitters and Agents

One of the most anticipated parts of the event was the award ceremony, which celebrated the loyalty of remitters and the hard work of partner agencies. A special lottery system was arranged to honour those who consistently supported the company’s services. The award segment created excitement among the audience as winners were announced and invited to the stage.

The top 10 remitters who sent the highest remittance amounts through National Exchange Company received attractive prizes, including air tickets, iPhone 14 Pro Max devices, Samsung Galaxy S23 smartphones, and high-performance laptops. These awards symbolized the company’s heartfelt appreciation for the trust and loyalty shown by its valued customers over the years.

Similarly, 16 top-performing agencies from across Italy were honoured with prizes and crests. Their performance demonstrated outstanding service quality, customer engagement, and operational excellence. Recognizing their efforts reinforced the spirit of teamwork that continues to drive the company’s success.

Cultural Performances and Gala Dinner

To make the celebration even more memorable, the event included vibrant cultural performances that represented both Bangladeshi and Italian traditions. Artistic dances, musical segments, and cultural showcases captivated the audience and highlighted the shared cultural harmony between the expatriate community and the host nation.

The evening concluded with a lavish gala dinner, offering a range of diverse and exquisite dishes. It provided an opportunity for guests to relax, socialize, and share their experiences while appreciating the achievement of two successful decades.

An Emotional Reflection from the Chairman

The final and most heartfelt moment of the evening came when Chairman Haji Mohammed Idrish Farazy took the stage to reflect on the company’s journey. Overcome with emotion, he spoke about the challenges of the early years, the long nights of dedication, and the collective effort that brought the company to its current position. He expressed deep gratitude to all remitters, partner agencies, company officials, and the Bangladeshi community for their unwavering support.

He highlighted that the company’s success is built on the trust, love, and loyalty of millions of remitters who choose to send money through legal channels. The Chairman strongly urged everyone to avoid hundi, reminding the audience that illegal transfers harm both individuals and the nation. He reiterated the company’s long-standing message: “Say No to Hundi”—a principle that reflects National Exchange Company’s commitment to safe, transparent, and lawful remittance practices.

He concluded his speech with prayers for continued strength, unity, and prosperity for the expatriate community, reaffirming the company’s promise to serve them even better in the years to come.

 

20 Years of National Exchange Company: A Legacy of Trust and Service

For the past two decades, National Exchange Company has grown into one of Italy’s most trusted money transfer institutions. Founded in 2003 and operational since April 2004, it has expanded from a small startup into a nationwide network of over 1,000 agents, serving millions of expatriates who send money to more than 90 countries worldwide. The company is known for providing fast, secure, and smooth money transfer services, ensuring every transaction is reliable and hassle-free.

Throughout its journey, National Exchange Company has remained fully compliant under the strict oversight of the Bank of Italy and adheres to all Anti-Money Laundering (AML) regulations. This commitment to compliance and transparency has earned the trust and confidence of its customers, supported by a dedicated 24/7 customer care team.

Guided by its mission to be the most preferred brand in money transfer, foreign exchange, and payment solutions, the company continues to innovate with simplicity and customer focus at its core. Looking ahead, National Exchange Company aims to expand across Europe and evolve into a leading global non-banking financial institution.

Celebrating 20 years of excellence, the company stands on a legacy of trust, dedication, and exceptional service—ready to shape an even brighter future for the global remittance community.

Looking Ahead to a Promising Future

As the company steps into its next chapter, National Exchange Company is committed to enhancing its services through digital innovation, advanced technology, and customer-focused improvements. Plans are underway to strengthen agent networks, introduce new remittance solutions, and continue contributing to Bangladesh’s formal financial system.

With a renewed commitment to excellence, the company remains dedicated to supporting expatriate families, facilitating smooth money transfers, and upholding the highest level of trust.

On 09 March 2023, a high-profile and ceremonial event dedicated to promoting remittance transfers through legal channels was jointly organized by National Exchange Company SRL and NCC Bank Limited in Rome, Italy, marking a significant milestone in strengthening financial cooperation between Italy and Bangladesh.

The program was led by the Honorable Chairman of National Exchange Company SRL, Mr. Haji Mohammed Idrish Farazy, whose visionary leadership continues to play a pivotal role in promoting secure and lawful remittance flows. The event was further elevated by the presence of the Chief Guest, the Honorable Ambassador of Bangladesh to Italy, Mr. M. Shameem Ahsan, reflecting strong diplomatic and institutional support for increasing remittance inflows through formal banking channels.

Distinguished Participation from Banking and Diplomatic Leaders

The meeting was attended by several high-ranking officials from NCC Bank Limited, reflecting the bank’s strong commitment to remittance sector development. Among the honorable guests were Mr. Md. Abul Bashar, Chairman of NCC Bank Limited; Mr. S. M. Abu Mohsin, Honorable Director; and Mr. Md. Moinuddin, Honorable Director. Their participation underscored the importance of strategic collaboration between banking institutions and exchange companies to safeguard expatriate earnings.

The program also featured prominent special guests, including the Honorable Managing Director and CEO of NCC Bank Limited, Mr. Md. Mamdudur Rashid; Honorable Director of National Exchange Company and Honorable Chairman of NEC Money Transfer Limited (UK), Mr. Ikram Farazy (CIP); and the EVP and Head of Remittance and NRB Services of NCC Bank Limited, Mr. Md. Mahfuzur Rahman. Their presence added substantial professional insight into the discussion on expanding remittance services and improving customer experience for non-resident Bangladeshis.

Presence of Embassy Officials and Industry Professionals

Representatives from the Bangladesh Embassy in Italy further enriched the meeting, including Mr. Md. Al-Amin, Economic Counselor, and Mr. Asif Anam Siddique, First Secretary (Labour Welfare). Their attendance emphasized the embassy’s continued support for initiatives encouraging migrant workers to use legal remittance channels for the benefit of both individuals and the national economy.

Senior executives and officials of National Exchange Company SRL were also present, including Mr. Ezio Marocco, President; Mr. Giovanni Amendola, Responsible Anti-Money Laundering Officer; Mr. Giuseppe Alfieri, Compliance Responsible & Risk Manager; Mr. Roberto Riccomagno, Company Accountant & Auditor; and Mr. Iqbal Hasan, General Manager. The presence of compliance and risk management leaders highlighted the company’s firm commitment to transparency, anti-money laundering standards, and international regulatory compliance.

Additionally, senior officials and respected agents of National Exchange Company attended the program, demonstrating the company’s strong operational network across Italy.

Engagement with the Bangladeshi Community in Italy

The event was further graced by distinguished guests from the Bangladeshi community in Italy, including Mr. Md. Shahadat Hossain Saju, Honorable Managing Director of Popular Travels and Tours, and Mr. Hasan Iqbal, along with respected political, social, and community leaders from various sectors. Their participation reflected the collective interest in promoting safe, reliable, and legal remittance solutions for expatriate Bangladeshis.

Recognition of Outstanding Contributions to Remittance Services

A key highlight of the program was the exchange of crests as a mark of appreciation and recognition. National Exchange Company SRL presented crests to the Honorable Ambassador of Bangladesh to Italy for his special contribution to increasing remittance inflows through legal channels. Crests were also awarded to the honorable officials of NCC Bank Limited in recognition of their outstanding role in developing remittance services.

From the bank’s side, NCC Bank Limited presented crests to the Honorable Ambassador, as well as to the Honorable Chairman and Directors of National Exchange Company SRL, acknowledging their leadership and long-standing contribution to the remittance sector. NCC Bank Limited officially praised National Exchange Company SRL as the highest remittance-collecting company, further reinforcing its reputation as a trusted remittance service provider.

Commitment to Expatriates and National Economic Growth

In his brief but impactful speech, Mr. Haji Mohammed Idrish Farazy, Honorable Chairman of National Exchange Company SRL, expressed his sincere gratitude to NCC Bank Limited for its continuous support and enhanced services in the remittance sector. He reaffirmed the company’s unwavering commitment to ensuring maximum benefits for expatriates by providing fast, secure, and legal remittance services.

He also emphasized that strengthening formal remittance channels not only protects migrant workers’ hard-earned money but also plays a crucial role in boosting Bangladesh’s national economy. Mr. Chairman proudly noted that National Exchange Company SRL has received consecutive awards from the Government of the People’s Republic of Bangladesh for being the highest remittance collector for five consecutive years (2014–2018). He dedicated these prestigious awards to the valued customers whose trust and loyalty made this achievement possible.

A Shared Vision for the Future

The Rome discussion meeting concluded with a shared vision between National Exchange Company SRL and NCC Bank Limited to further enhance cooperation, expand remittance services, and encourage the use of legal and transparent remittance channels. This collaborative initiative stands as a strong example of how financial institutions, diplomatic missions, and community leaders can work together to empower expatriates and support sustainable economic development. 

On 15 February 2023, a major milestone was achieved in Bangladesh’s remittance and banking sector with the signing of a bilateral foreign remittance exchange agreement between National Exchange Company SRL and Meghna Bank Limited. This strategic partnership is aimed at strengthening remittance inflows to Bangladesh, especially from Bangladeshi expatriates living in Italy, and supporting the nation’s ongoing economic development.

This collaboration reflects the shared commitment of both institutions to ensuring secure, fast, and reliable remittance services, making it easier for expatriates to send their hard-earned money back home through formal banking channels.

 

A Landmark Signing Ceremony with Key Leadership Presence

The agreement signing ceremony was held in a grand, cordial, and highly professional atmosphere, reflecting the importance of the partnership between National Exchange Company SRL and Meghna Bank Limited. The presence of senior leadership and key officials from both organizations demonstrated strong mutual trust, shared values, and a common vision for building a long-term and successful collaboration in the remittance and banking sector.

At the ceremony, the Honorable Chairman of National Exchange Company SRL, Mr. Haji Mohammed Idrish Farazy, was warmly welcomed with floral greetings by the Honorable Managing Director & CEO of Meghna Bank Limited, Mr. Sohail R. K. Hussain. This welcoming gesture symbolized mutual respect, goodwill, and the strong foundation on which the partnership has been established, marking the beginning of a promising alliance between the two institutions.

Several distinguished senior executives of Meghna Bank Limited were also present at the event, highlighting the bank’s firm commitment to expanding its international remittance operations and delivering efficient, customer-focused services across Bangladesh. The dignitaries included Mr. Tanvir Shams, Vice President & Head of International Division; Ms. Kimiwa Saddat, Senior Executive Vice President & Head of Corporate Banking; Mr. M. Nazeem A. Choudhury, Head of Retail & SME Banking; Mr. Md. Sadiqur Rahman, Senior Executive Vice President & Head of Treasury; and Mr. Khaled Hossain, Executive Vice President & Head of Operations.

Representing National Exchange Company SRL, General Manager Mr. Rashidul Islam attended the ceremony along with other senior officials. Their participation underscored the organization’s dedication to strengthening secure, transparent, and fast remittance services, further reinforcing its long-standing commitment to effectively serving the Bangladeshi expatriate community living in Italy.

Strengthening Bangladesh’s Remittance Landscape

National Exchange Company SRL has been serving expatriates in Italy for more than two decades. Over the years, it has earned the trust of customers through quick processing, transparency, and reliability, emerging as one of the highest remittance-collecting institutions, contributing significantly to Bangladesh’s economy.

On the other hand, Meghna Bank Limited is widely recognized as one of the most dynamic and customer-focused banks in Bangladesh. With 51 branches nationwide, the bank has built a strong reputation for innovation, reliability, and excellence in financial services- making it an ideal partner for international remittance operations.

Through this bilateral agreement, the combined strength of National Exchange Company’s international expertise and Meghna Bank’s nationwide banking network will ensure that remittances sent from Italy reach beneficiaries in Bangladesh quickly, safely, and conveniently.

Shared Vision for Economic Growth

In their speeches, both the Honorable Chairman of National Exchange Company SRL  and the Honorable Managing Director & CEO of Meghna Bank Limited emphasized the importance of collaboration- especially during challenging economic times.

They expressed confidence that by leveraging the experience, operational strength, and strong reputations of both institutions, this partnership would encourage expatriates to use formal remittance channels and help increase overall remittance inflows to the country.

They further stated that, Insha’Allah, both organizations would work hand in hand to support Bangladesh’s economy by ensuring smooth, secure, and timely fund transfers to families and beneficiaries.

 

Appreciation and Event Conclusion

At the ceremony, Mr. Haji Mohammed Idrish Farazy expressed sincere appreciation to the management and team of Meghna Bank Limited for arranging such a well-organized and elegant event. He also thanked them for their warm hospitality and professionalism, expressing optimism about the future success of the partnership.

The event concluded with a luncheon hosted by Meghna Bank Limited, allowing guests from both organizations to engage in cordial discussions and further strengthen mutual ties.

A Promising Partnership for the Future

The signing of this bilateral remittance agreement marks a strategic alliance that will enhance financial connectivity between Italy and Bangladesh. By working together, National Exchange Company SRL and Meghna Bank Limited are well-positioned to deliver efficient, secure, and customer-friendly remittance services, while contributing meaningfully to Bangladesh’s economic resilience.

As remittance continues to play a vital role in the country’s economy, partnerships like this serve as a symbol of progress, trust, and long-term commitment to serving expatriates and their families with excellence.

The Annual Picnic 2023 of the Bangladesh Office of National Exchange Company was successfully held on February 4, 2023, at the scenic Rajendrapur Eco Resort Park. Set amid lush greenery and a serene natural environment, the event brought together management, employees, and families for a memorable day of celebration, bonding, and appreciation. The picnic reflected the company’s strong organizational culture, commitment to employee engagement, and respect for leadership values that continue to drive National Exchange Company forward.

A Distinguished Gathering of Leadership and Families

The event was graced by the presence of the Honorable Chairman of the company, Mr. Haji Mohammed Idrish Farazy, whose visionary leadership has been a driving force behind the company’s growth and continued success. He was accompanied by the Honorable Vice Chairman, Mr. Mohammad Jahangir Farazy, and esteemed Directors- Mr. Kuddus Farazy, Mr. Abdul Wahab Fakir, Dr. Anower Farazy, and Mr. Monir H. Farazy, along with their families, made the gathering truly special.

A particularly touching and dignified moment of the day was the presence of Haji Ujala Farazy, the revered matriarch and respected guardian of the Farazi family. Her attendance added warmth and cultural significance to the occasion, symbolizing the family values, unity, and strong moral foundation that underpin the organization’s principles.

Participation of Bangladesh Office Employees

The Annual Picnic 2023 saw enthusiastic participation from all officers and employees of the Bangladesh Office of National Exchange Company. The event served as a perfect platform for colleagues from different departments to interact beyond the workplace, strengthening interpersonal relationships and reinforcing teamwork.

Such initiatives underline the company’s belief that a motivated and connected workforce plays a vital role in delivering fast, secure, and reliable remittance services to customers worldwide.

A Day Filled with Joyful Activities

The day-long picnic featured a vibrant lineup of activities thoughtfully arranged to ensure enjoyment for everyone. Attendees enthusiastically participated in a variety of sports events, including an exciting football match that fostered friendly rivalry, teamwork, and collective excitement. Alongside the sports activities, several participants showcased their talents by singing songs, adding a lively and engaging touch to the celebration. These activities not only entertained everyone but also strengthened collaboration, leadership, and a strong sense of sportsmanship.

In addition, the cultural program highlighted creativity and expressive performances, beautifully reflecting the rich cultural diversity of the company’s workforce. The excitement reached its peak with the raffle draw, which filled the atmosphere with anticipation and joy, making the event truly memorable for all.

Honoring Excellence: CIP Recognition Ceremony

One of the most prestigious and memorable moments of the event was the CIP Recognition Ceremony, held to honor four distinguished members of the renowned Farazi family, who were awarded CIP (Commercially Important Person) status by the Government of the People’s Republic of Bangladesh. This esteemed recognition reflects their remarkable contributions to business leadership, economic development, and national progress.

The honored individuals were:

Mrs. Tahmina Akhter Mitu

• Spouse of the Honorable Chairman, National Exchange Company SRL, Mr. Haji   Mohammed Idrish Farazy
• Director, Popular Travels and Tours

Mr. Mohammad Jahangir Farazy

•  Honorable Vice Chairman, National Exchange Company SRL
• Chairman, Farazy Real Estate

Mr. Ikram Farazy

•  Honorable Director, National Exchange Company SRL
• Chairman, NEC Money Transfer Limited
  

Dr. Anower Farazy

• Honorary Director, National Exchange Company SRL
•  Chairman, Farazy Hospitals Limited
  
  

On behalf of National Exchange Company, the Honorable Chairman, Mr. Haji Mohammed Idrish Farazy, presented special honorary crests to each of the CIP awardees, acknowledging their outstanding achievements and leadership excellence. The ceremony stood as a proud and inspiring moment, reflecting the company’s core values of integrity, excellence, and recognition of meaningful contributions to society.

Prize Distribution and Words of Appreciation

Accompanied by all Directors, the Honorable Chairman also distributed prizes among the winners of the sports competitions and raffle draw. This gesture highlighted the organization’s appreciation for participation and effort, reinforcing inclusivity and encouragement across all levels.

In his brief but heartfelt speech, the Chairman expressed satisfaction over the successful organization of the Annual Picnic 2023. He commended the organizing team for their dedication and thanked all employees and family members for their enthusiastic participation. Emphasizing unity and togetherness, he expressed hope that such meaningful gatherings would continue in the future.

Strengthening Bonds Beyond the Workplace

The Annual Picnic 2023 was more than a recreational event- it was a reflection of National Exchange Company’s commitment to corporate harmony, family values, and employee well-being. By creating opportunities for relaxation and informal interaction, the company strengthens trust, motivation, and a shared sense of purpose among its workforce.

As National Exchange Company continues to expand its footprint and deliver reliable remittance services globally, events like this picnic remain an essential part of nurturing a positive organizational culture.

Looking Ahead

With fond memories and renewed energy, the Bangladesh Office of National Exchange Company looks forward to continuing this tradition of connection and celebration in the years to come. The Annual Picnic 2023 stands as a testament to leadership excellence, family values, and the collective spirit that drives the organization toward sustained success.

Recognition is most meaningful when it reflects years of integrity, leadership, and dedication to national progress. On 18 December 2022, such a moment of pride unfolded when Mrs. Tahmina Akhter Mitu, Honorable Director of Popular Travels and Tours and wife of Mr. Mohammed Idrish Farazy,Honorable Chairman of National Exchange Company SRL, was awarded the prestigious Commercially Important Person (CIP) Award 2022.

The award was conferred by the Ministry of Expatriates’ Welfare and Overseas Employment of the People’s Republic of Bangladesh in recognition of her remarkable contribution to the country’s economy during the financial year 2018–2019. This honor stands as a powerful testament to her long-standing commitment to strengthening Bangladesh’s remittance inflow and expatriate services sector.

A Milestone of Excellence in the Remittance and Travel Industry

Mrs. Tahmina Akhter Mitu has been deeply involved in facilitating lawful overseas employment, ethical travel services, and regulated remittance support for expatriate Bangladeshis. Through her leadership at Popular Travels and Tours, she has consistently upheld transparency, professionalism, and compliance- key values that foster trust among migrant workers and overseas communities.

Her contribution goes beyond business success. By supporting legal migration pathways and formal remittance channels, she has directly contributed to reducing irregular migration risks and strengthening Bangladesh’s formal foreign currency inflow. This commitment aligns closely with the government’s broader objectives for sustainable manpower export, expatriate welfare, and economic resilience.

Receiving the CIP Award 2022 is therefore not just a personal achievement; it is a national acknowledgment of her broader role in empowering expatriate workers, safeguarding ethical business standards, and supporting Bangladesh’s long-term economic growth.

Multiple CIP Awards go to the esteemed Farazy family

The day became even more momentous as several other distinguished leaders associated with National Exchange Company and the esteemed Farazi family were also honored with the CIP Award 2022, highlighting collective excellence and visionary leadership.

The award recipients included:

Mr. Mohammad Jahangir Farazy

• Honorable Vice Chairman, National Exchange Company SRL
• Chairman, Farazy Real Estate

   

Mr. Ikram Farazy

• Honorable Director, National Exchange Company SRL
• Chairman, NEC Money Transfer Limited

   

Mr. Dr. Anower Farazy

• Honorary Director, National Exchange Company SRL
• Chairman, Farazy Hospitals Limited

Their recognition underscores their significant role in expanding critical sectors such as remittance services, real estate development, healthcare, and financial inclusion—areas that directly support Bangladesh’s socio-economic development.

 

NCC Bank Limited Hosts Honoring Ceremony

To commemorate and celebrate the achievements of the distinguished CIP awardees, NCC Bank Limited organized a warm and respectful gathering. The program included a casual lunch, flower reception, and crest-giving ceremony, creating an atmosphere of appreciation and recognition.

The event was hosted under the leadership of Mr. Mohammad Mamudur Rashid, Honorable Managing Director and CEO of NCC Bank Limited. Senior executives, including the Additional Managing Director, Deputy Managing Director, and other high-ranking officials of the bank, were present to honor the awardees.

Their presence symbolized the banking sector’s acknowledgment of the invaluable contributions made by expatriate service providers, financial institutions, and business leaders in sustaining Bangladesh’s remittance-driven economy.

A Shared Vision for National Progress

The participation of the Honorable Chairman of National Exchange Company SRL, Honorable Directors, and senior officers further reflected unity and shared commitment toward ethical business practices and national advancement.

These CIP recognitions reaffirm how strategic leadership, compliance-driven operations, and people-centric services can collectively shape Bangladesh’s global economic standing.

Looking Ahead with Confidence and Purpose

The CIP Award 2022 ceremony was more than a formal recognition- it was a reminder of how responsible entrepreneurship and visionary leadership contribute to a stronger nation. Mrs. Tahmina Akhter Mitu, along with the other honorees, continues to set high standards in service, governance, and national responsibility.

As Bangladesh advances with increasing reliance on remittance inflows, overseas employment, healthcare development, and infrastructure growth, such contributions remain not only commendable but essential for sustained economic progress.

On 1st December 2022, National Exchange Company SRL and Shahjalal Islami Bank Limited, signed a Memorandum of Understanding (MoU) to enhance remittance services for Bangladeshi expatriates living in Italy. This strategic collaboration aims to make sending money from Italy to Bangladesh faster, easier, and more accessible for families and communities across the country.

The MoU signing ceremony highlighted the commitment of both institutions to providing secure, efficient, and reliable financial services while building stronger ties between Italy and Bangladesh.

Distinguished Representatives Attend the MoU Ceremony

The MoU signing ceremony was attended by senior officials from both organizations, reflecting the mutual respect and professionalism underpinning this partnership.

On behalf of National Exchange Company SRL, the delegation included:

• Mr. Mohammed Idrish Farazy, Honorable Chairman
• Dr. Anower Farazy, Honorable Director

   

Representing Shahjalal Islami Bank Limited, the signing was led by Mr. Musleh Uddin Ahmed, Managing Director and Chief Executive Officer, along with Additional Managing Directors and other senior officials of the bank.

As part of the ceremony, Shahjalal Islami Bank officials presented floral greetings to Chairman Mr. Mohammed Idrish Farazy and Director Dr. Anower Farazy, symbolizing respect, goodwill, and the start of a promising partnership.

 

Enhancing Remittance Services for Bangladeshi Expats

With a large community of Bangladeshi expatriates living and working in Italy, the demand for reliable and efficient remittance services has never been higher. National Exchange Company SRL has built a strong reputation as a leading money transfer company in Italy, providing secure, transparent, and fast services to customers across the country.

Through this collaboration, Shahjalal Islami Bank Limited brings its extensive network of branches across Bangladesh, ensuring that beneficiaries can easily receive remittances in any region, whether in major cities or rural areas. By combining the strengths of both institutions, expatriates in Italy now have a more streamlined, convenient, and reliable way to send money home to their families.

Strategic Advantages of the Partnership

This MoU will allow both institutions to leverage their respective strengths:

• National Exchange Company SRL: Expertise in international money transfer operations, secure digital systems, and extensive presence across Italy

   

• Shahjalal Islami Bank Limited: Strong banking infrastructure, regulatory compliance, and a wide-reaching branch network across Bangladesh

   

By joining forces, they are committed to providing faster transaction processing, enhanced security, and greater convenience for customers. This partnership not only simplifies the remittance process but also ensures compliance with international and local banking regulations.

A Vision for the Future

The collaboration demonstrates the shared vision of National Exchange Company SRL and Shahjalal Islami Bank Limited: to make remittance services easier, safer, and more reliable for Bangladeshi expatriates worldwide. Both institutions are dedicated to:

• Expanding accessible financial services for expatriates in Italy
• Enhancing speed and efficiency of money transfers
• Providing secure, transparent, and compliant transactions
• Supporting families and communities in Bangladesh with easy access to remittances

   

This MoU marks the beginning of a long-term partnership aimed at strengthening the financial bridge between Italy and Bangladesh. It will benefit thousands of expatriates who rely on fast and reliable money transfer services to support their families and communities back home.

 

Conclusion

The MoU signing on 1st December 2022 between National Exchange Company SRL and Shahjalal Islami Bank Limited signifies a strong commitment to delivering efficient, secure, and customer-friendly remittance services. By combining Italy-based expertise in money transfers with Bangladesh’s robust banking network, this partnership ensures that expatriates can send funds home safely and conveniently, while beneficiaries across Bangladesh enjoy seamless access to their money.

This collaboration reinforces National Exchange Company SRL’s position as a leading money transfer provider in Italy and highlights Shahjalal Islami Bank Limited’s dedication to serving families across Bangladesh, creating a trusted and efficient remittance corridor for years to come.

National Exchange Company SRL, one of Italy’s leading and most trusted money transfer organizations, has marked a major milestone in its digital transformation journey with the official launch of its new web-based software on 24th March 2022.

The new platform is designed to make remittance transactions faster, easier, and more secure, strengthening the company’s long-standing commitment to providing the Bangladeshi expatriate community in Italy with seamless and reliable money transfer services to Bangladesh and other destinations.

Leadership Presence at the Launching Program

The software launching program, held on 24th March 2022, brought together the company’s top leadership, board members, and compliance officials in a celebratory and forward-looking event.

Among the distinguished attendees were:

• Mr. Mohammed Idrish Farazy, Honorable Chairman of National Exchange Company SRL
• Mr. Mohammad Jahangir Farazy, Honorable Vice Chairman
• Mr. Abdul Wahab Fakir, Honorable Director.

Also present were respected Italian partners and senior management officials:

• Mr. Ezio Marocco, Board President
• Mr. Roberto Riccomagno, Company Accountant & Auditor
• Mr. Alfieri Giuseppe, Compliance Responsible & Risk Manager
• Mr. Amendola Giovanni, Responsible for Anti-Money Laundering
• Mr. Kraicsovits Thomas, Internal Auditor

Their collective participation reflected the organization’s unity and shared vision of innovation, integrity, and compliance- core values that have helped National Exchange Company SRL maintain its leadership in Italy’s remittance sector.

A Leap Toward Digital Innovation

The launch of this new web software marks a significant technological advancement for National Exchange Company SRL. With a strong focus on improving operational efficiency and user experience, the system introduces cutting-edge tools to ensure real-time processing, enhanced transparency, and greater security.

The upgraded platform allows agents across Italy to manage customer transactions more efficiently, while customers benefit from quicker service and improved reliability. With  real-time transaction updates, robust verification systems, and automated compliance checks, the platform streamlines the entire remittance process- from Italy to Bangladesh and beyond.

Ensuring Compliance and Security

In today’s rapidly evolving financial landscape, security and regulatory compliance are critical components of sustainable remittance services. The new system has been developed under strict adherence to European financial and Anti-Money Laundering (AML) regulations.

Led by Mr. Alfieri Giuseppe (Compliance Responsible & Risk Manager) and Mr. Amendola Giovanni (Responsible for Anti-Money Laundering), the software incorporates advanced security features and risk assessment protocols that safeguard every transaction. This ensures full compliance while maintaining customer trust and operational transparency.

Additionally, Internal Auditor Mr. Kraicsovits Thomas and Company Auditor Mr. Roberto Riccomagno played vital roles in ensuring the system meets international auditing and accountability standards- further solidifying National Exchange Company SRL’s position as a trusted and compliant remittance service provider.

 

Commitment to Customer Experience

The launch of the new web software aligns with National Exchange Company SRL’s mission to continuously enhance customer satisfaction. The system simplifies the process of sending money from Italy to Bangladesh, making it faster and more accessible for expatriates and their families.

Whether customers visit one of the company’s 1,000+ agent points across Italy or use its digital channels, they can now experience greater convenience and efficiency. This advancement ensures that every transfer (large or small) reaches its destination safely and promptly. 

 

A Message from the Leadership

During the event, Chairman Mr. Mohammed Idrish Farazy expressed his gratitude to the board, compliance team, and all employees for their continuous dedication. He emphasized that the introduction of the web software is not just a technological upgrade, but a  strategic step toward digital transformation.

“Our goal has always been to serve our customers with trust, speed, and reliability. This new web platform is a reflection of that commitment,” said Mr. Farazy. “We believe technology should make remittance simpler and safer for everyone, and this system will help us achieve exactly that.” 

A Vision for the Future

With over two decades of trusted service and a strong reputation in the Italian remittance market, National Exchange Company SRL continues to lead the way in innovation. The company plans to expand its digital infrastructure even further– introducing new features, improving accessibility, and integrating advanced analytics for better customer support.

The launch of the web software on 24th March 2022 marks the beginning of a new era for the organization— one where technology, compliance, and customer trust come together to deliver world-class money transfer services.

 

Conclusion

The new web software launch demonstrates National Exchange Company SRL’s unwavering dedication to excellence in the money transfer industry. By combining cutting-edge technology with strong regulatory compliance and exceptional service quality, the company continues to ensure that every remittance from Italy to Bangladesh remains easy, fast, and secure.

With visionary leadership and a forward-looking approach, National Exchange Company SRL stands ready to shape the future of global remittance– empowering communities and connecting families across borders.

National Exchange Company SRL, in partnership with Uttara Bank Limited, celebrated their strong and enduring business relationship at a special get-together hosted by Mr. Mohammad Rabiul Hossain, the Honorable Managing Director and CEO of Uttara Bank Limited, on 23rd December 2021. The event marked yet another milestone in their partnership, which has played a crucial role in facilitating remittance services from Italy to Bangladesh.

A Meeting of Trust and Collaboration

The meeting brought together key figures from both institutions, highlighting the mutual respect and shared commitment that have shaped this partnership over the years.

Representing National Exchange Company SRL, the attendees included:

• Honorable Chairman Mr. Mohammed Idrish Farazy,
• Honorable Vice Chairman Mr. Mohammad Jahangir Farazy,
• Honorable Director Mr. Ikram Farazy,
• Honorable Director Dr. Anower Farazy,
• Country Manager (Dhaka Office) Mr. Kazi Abdullah Al-Masum, and
• General Manager Mr. Rashidul Islam.

The team attended the invitation at Uttara Bank’s head office in Dhaka, where they were warmly welcomed by Mr. Rabiul Hossain and his management team. During the visit, the delegates from National Exchange Company had the opportunity to tour the entire Uttara Bank head office and meet senior officials who have been instrumental in maintaining the operational link between the two organizations.

A Partnership Built on Service and Trust

The collaboration between National Exchange Company SRL and Uttara Bank Limited is one of the most successful examples of cross-border financial cooperation between Italy and Bangladesh. National Exchange Company SRL, a well-established Italy-based money transfer company, has been serving the Bangladeshi expatriate community across Italy for more than two decades.

With over 1,000 agent points across Italy, National Exchange Company SRL has become a trusted brand for sending money from Italy to Bangladesh quickly, safely, and efficiently. Through their extensive network, thousands of Bangladeshi expatriates are able to send remittances to their families back home, contributing significantly to Bangladesh’s economy.

On the other hand, Uttara Bank Limited, one of Bangladesh’s leading commercial banks, has been a reliable local partner in ensuring that remittances reach their intended beneficiaries efficiently. Through Uttara Bank’s strong local presence, remittance recipients across Bangladesh enjoy convenient access to funds sent through National Exchange Company SRL.

Previously, in 2020, Uttara Bank Limited recorded the highest distribution of remittances in Bangladesh through its collaboration with National Exchange Company SRL. This consistent performance demonstrates the mutual success and growing strength of their partnership.

Supporting Bangladeshi Expatriates in Italy

Bangladeshi expatriates in Italy form one of the largest diaspora communities contributing to the national remittance inflow. Their hard-earned money plays a vital role in supporting families, developing local economies, and strengthening Bangladesh’s foreign reserves.

Recognizing this importance, National Exchange Company SRL has continuously focused on providing secure, transparent, and fast remittance services. By partnering with reputable banks like Uttara Bank Limited, the company ensures that every transaction is handled with utmost care and compliance, building trust within the expatriate community.

 

A Shared Vision for the Future

The recent meeting between the top management of National Exchange Company SRL and Uttara Bank Limited reflects their shared vision for a stronger financial corridor between Italy and Bangladesh. Both organizations reaffirmed their commitment to expanding digital remittance channels, improving service speed, and introducing more convenient payout options for beneficiaries in Bangladesh.

As global remittance trends evolve with technology, the partnership aims to remain at the forefront of innovation– making cross-border money transfers simpler, faster, and more reliable than ever before.

 

Conclusion

The longstanding partnership between National Exchange Company SRL and  Uttara Bank Limited is a shining example of how collaboration can drive success in the global remittance industry. Their joint efforts have not only strengthened financial connectivity between Italy and Bangladesh but also touched the lives of countless families who rely on remittances for their livelihood.

With a foundation built on trust, service, and shared goals, this partnership continues to pave the way for a brighter and more connected future in international money transfer.

A bilateral meeting was held on 31 August 2021 at the Bangladesh office of National Exchange Company SRL between the company and NCC Bank Bangladesh Limited, aimed at strengthening foreign remittance services between Italy and Bangladesh.

Distinguished Representatives in Attendance

The meeting brought together senior leaders from both institutions, demonstrating the significance of this bilateral discussion. From National Exchange Company SRL, Honorable Chairman Mr. Mohammed Idrish Farazy, Country Manager (Bangladesh) Mr. Kazi Abdullah Al-Masum, and General Manager (Dhaka Office) Mr. Rashidul Islam were present, while NCC Bank Bangladesh Limited was represented by Managing Director & CEO Mr. Mohammad Mamdudur Rashid, Deputy Managing Director Mr. Khandkar Naimul Kabir, Senior Vice President & Head of NRB Division Mr. Mahfuzur Rahman, and Senior Vice President & Head of Treasury Mr. Shariful Islam. This impressive gathering of leaders underscored the importance both organizations place on strengthening their partnership in the field of foreign remittances.

A Gesture of Respect and Partnership

One of the most memorable moments of the meeting was when the Chairman of National Exchange Company, Mr. Mohammed Idrish Farazy, presented a commemorative crest and flowers to NCC Bank’s Managing Director & CEO, Mr. Mohammad Mamdudur Rashid.

This heartfelt gesture symbolized not only the deep respect between the two institutions but also served as a reminder of their long-standing business relationship.

Agenda: Making Remittance Services Stronger and More Dynamic

The central theme of the meeting revolved around making foreign remittance services more dynamic, secure, and accessible. Both National Exchange Company SRL and NCC Bank Bangladesh Limited share a common commitment to ensuring that remittances are delivered quickly, efficiently, and at competitive rates, so that Bangladeshi expatriates and their families can benefit more directly.

Some of the focal points of discussion included:

1. Enhancing Digital Integration – Exploring ways to integrate modern technology for faster, seamless money transfers.
2. Expanding Service Coverage – Ensuring remittance services reach even the most rural parts of Bangladesh.
3. Boosting Customer Confidence – Offering transparent, secure, and trustworthy services for the expatriate community.
4. Strengthening Bilateral Cooperation – Building upon the long-standing relationship between the two institutions for future growth.

The Importance of the Italy–Bangladesh Remittance Corridor

Italy hosts one of the largest Bangladeshi expatriate communities in Europe, with thousands of individuals regularly sending money back home, making remittances a vital part of Bangladesh’s economy. For over two decades, National Exchange Company SRL has been a trusted partner for expatriates, ensuring secure and efficient transfers. In close collaboration with NCC Bank Bangladesh Limited, these remittances reach families across the country, strengthening financial ties while contributing to foreign reserves and economic stability.

Looking Ahead

The meeting between National Exchange Company SRL and NCC Bank Bangladesh Limited was more than a formal event—it marked a renewed commitment to innovation and customer-focused remittance services. Both institutions pledged to modernize systems, expand service coverage, and build stronger customer trust, ensuring their partnership remains central to the Italy–Bangladesh remittance corridor. As global remittance trends evolve, their shared vision is to deliver reliable, secure, and impactful solutions that empower communities and support economic growth.

 

Final Thought

The bilateral meeting at the National Exchange Company’s Bangladesh office has laid a solid foundation for deeper cooperation. With senior leaders in attendance, fruitful discussions, and the symbolic exchange of a crest and flowers, the event highlighted the long-standing bond between the two institutions. Together, National Exchange Company SRL and NCC Bank Bangladesh Limited reaffirm their commitment to efficient and trustworthy remittance services that continue to strengthen the connection between Italy and Bangladesh.