BRAC Saajan Exchange Limited

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BRAC Saajan Exchange Ltd
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List of Worldwide Agents & Exchange Houses of BRAC Bank Limited
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The Recruitment of Agent

Any potential agent must  apply using the specified Agent Application Form. If the Compliance team is satisfied after the due diligence, then the agent will be recruited on board. Agents will not be able to carry out any business until or unless they are registered under BRAC Saajan Exchange Ltd MLR and FCA registers.

If an agent can demonstrate all of the below qualities, the agent might not be required to be registered to the MLR and FCA registers

Qualities

  • The applicant has its own MLR registration as Money Transmitter with HMRC.
  • The applicant has its own registration with FCA as an Authorized Payment Institute.
  • The applicant has its own Anti-money Laundering Compliance Program in place, the compliance program must meet the all the requirements as explained in this policy.
  • The applicant owns a money transfer software which fulfils BRAC Saajan Exchange Ltd’s AML/CTF compliance policy.
  • The applicant always carries out transaction electronically.
  • The applicant has Money Service Business Bank Account with a bank that is regulated by FCA and
  • The applicant will transfer funds for its transactions electronically.

 

Documents Required

  • All applicant must provide the below information as appropriate.
  • Original passport of all persons related to the application for the business relationship (owner, partners, directors, nominated officer, and company secretary)
  • Proof of address for all above mentioned persons
  • Individual Information Form for all above mentioned persons
  • Proof of business address


For limited company:

  • Articles of Association
  • Articles of Memorandum
  • Business profile of the limited company
  • Shareholding structure of the company


For partnership businesses:

  • A written partnership agreement between the mentioned partners, which should be signed by all the partners
  • Business profile of the partnership business

If the original of any of the required document is not available, photocopies can only be accepted if the photocopy is certified. We accept certification only by the below persons. An attorney

  • An attorney
  • An accountant
  • An embassy or consular official
  • A doctor
  • A notary
  • A postmaster and
  • A solicitor


Application Fee

You will need to come to our Branch Office with all your documents that is required to apply for an account with BRAC Bank.

Month of Application Application Fee Description
From September to February £350 1st year’s Annual Compliance Fee Included
From March to August £250 Half year’s Annual Compliance Fee Included


Annual Compliance Fee

An Annual Compliance Fee of £200 will be charged. This charge will be applied on to the agent’s account between 15th and 25th September each year. The Annual Fee is charged for:

  • Renewing your regulatory registrations with BRAC Saajan Exchange Ltd
  • Arranging AML/CFT training for your business

 

How To Submit The Application ?

You will need to send the Agent Application Form, Individual Information Form(s), all required documents as appropriate for your business and a cheque for the Application Fee to the below address.

The cheque will be payable to “BRAC Saajan Exchange Ltd”

BSEL Compliance
BRAC Saajan Exchange Ltd
160-162 Lozells Road, Lozells
Birmingham
B19 2SX
United Kingdom

Should you require any information to becoming a BRAC Saajan Agent, please contact us at sales@bracsaajanexchange.com or call us at 0121 515 4008 and ask for member of our Business Development Team. Alternatively you can contact one of our sales representatives below:

Italy Sales Representative:

Zaman Kamruzzaman - 00 39 3246543225
Md Moshiar Rahman - 00 39 3207651581
Mohammad Al Amin - 00 39 3920725065
Mustafizur Rahman - 00 39 3896685345
Mohammad Al Amin (Jr) - 00 39 3245897233

Portugal Sales Representative:

Mizanur Rahman - 00 35 1939521522

Spain Sales Representative:

Sahadul Suhed - 00 34 673784198

UK Sales Representative:

Syed Ryad Ahmed - 07504923406
Md Shumon Ahmed -  07458677808
Shoaib Shahid - 07933527077

Download Application Form:

Application Form

Individual Information Form