The name of the business is Instant Exchange – our name reflects our business. The business will supply foreign currency exchange and transfer to Bangladesh at a competive rate, reliable, efficient and provide an honest financial service. We intent to transfer money for the Bangladeshi people living in Wales and West of England. We intend to offer a cheap rate of transfer with Bengali speaking agent, as well as providing flexibility of transfer into any Bangladesh Bank account in any corner of Bangladesh.

Our core aim is to serve the niche missed out by western union, money gram etc, and so become a significant force in the money transfer market. We are aiming for 3-8% share of this market in the Wales and West of England.

We have a licence to exchange money in the UK, we are at the stage of forming a business partnership with International Finance Investment Commerce Bank (IFIC) in Bangladesh, and this will give us presence in Bangladesh and greater reach through out each regions of Bangladesh. For our venture to succeed and our services to be swift, it is necessary to obtain a currency transfer licence from the Bangladesh Government as well. In our bid to obtain the licence IFIC will present this case to the Bank of Bangladesh and Finance Minster, this is maturing well and looking very positive.

Also we have chosen to work with HSBC in the UK, we have chosen HSBC because of their global presence and professionalism. So we have the business model and structure in place.

We are currently forming a stragic alliance with Instant Travel. Instant Travel provides airline tickets to the Asian Markets, such as Bangladesh and Pakistan, Instant Travel have established an immense customer base. Instant Travel customers are always enquiring if they provide money transfer service to Bangladesh, this service is not provided by Instant Travel.

Presently customers of Instant Travel are dealing with Global transfer Service Company for there money transfer needs. They are experiencing the following problems: the service charge is too high, dealing with non-Bengali speaking agents and poor coverage of Bangladesh regions. Otherwise using unofficial channels, which is unreliable and no guarantee of transfer, some customer have even lost all their money using this method.

With forming a partnership with Instant Travel, we will become a one-stop shop, where customers can buy tickets to Bangladesh and also have currency transferred into their Bangladesh Bank account, introducing value added service whereby both businesses will compliment each other.

There is a need for this service in the market, we intend to fulfil this need and satisfy the market place, our aim and goal is to become market leaders in our niche market.