About CBL Money Transfer

CBL Money Transfer Sdn. Bhd. (previously known as Rush Money Express Sdn. Bhd.) is a Company incorporated on April 12th, 2007 under the Companies Act 1965. It was established for the purpose of operating cross-border remittance business for customers. The Bank Negara Malaysia (BNM) registration number is AKPW/012/2007. On 1st July 2013, with the approval of BNM, The City Bank Limited (City Bank) of Bangladesh acquired a majority stake in the company and on 10th September 2013, CBL Money Transfer (CBLMT) officially commenced its operations.

CBLMT is a remittance service provider with business purpose is to assist foreign workers and business organizations to remit funds to their home countries. By taking advantage of the advent of technology, the company is able to transfer funds efficiently to its customers. Recognizing the need for a fast and secure delivery system, CBLMT has created "CityRemit", an integrated online remittance software that connects with strategic partners around the world to facilitate the processing, storage, and delivery of funds. CBLMT provides a great understanding of the remittance business and an understanding of your needs. International money transfers received from you will be delivered to the recipient on the same day in the shortest possible time. A superior security and internal control system with appropriate risk management measures is in place to ensure the integrity of our transfer operations is free from fraudulent or illegal activities. CBLMT has a strong remittance network in Bangladesh, Indonesia, Vietnam, the Philippines, Nepal, India, Pakistan, and Sri Lanka. You get a range of modern remittance solutions, plus security, which we consider to be the most important.

The company has accounts in every bank and branch in Bangladesh through its robust network. No matter where your account is or if you prefer to pay with cash, you can send money instantly. Our simplest and easiest payment method is highly secure with a PIN number and has no hidden costs, ensuring convenience and reliability. At CBLMT we do everything we can to transfer your hard-earned money safely and securely.

 

Objective

To provide honest, focused, and superior work ethics and ensure that our customer satisfaction is fully realized.

Vision

People from developing countries exchange their labor and skills for comforts people in opulent societies have become used to and would prefer to continue to enjoy. Remittances therefore can be used to narrow the wealth divide between the rich and poor NATIONS.

Mission

To provide a user-friendly, swift and safe platform for our customers to channel remittance to the destination of their choice while ensuring the customer’s peace of mind which is our commitment to our slogan: Swiftly Processed, Safely Delivered.

Corporate Overview

CBLMT is a remittance service provider with one of its corporate objectives to assist foreign workers and business organizations in the remittance of their funds to their home country. By harnessing the advent of technology, the company is able to efficiently remit funds for the customers. Recognizing the need for a swift and safe delivery system, CBLMT has put in place an integrated online software “City Pay” which is linked to its strategic partners around the globe to facilitate settlement, custody, and delivery of funds.

CBLMT offers an excellent understanding of the remittance business and an appreciation of the needs of our customers. Outward remittance funds received from our customers are delivered to the beneficiaries in the quickest possible time, as early as the same day. Majority of our marketing representatives are from where the foreign workers originate, thus facilitating transactions without any cultural and language barrier.

A good security and internal control system with proper risk management measures are put in place to ensure the integrity of our remittance operations are free from fraudulent and illegal acts.

CBL Money Transfer has a strong remittance network in Bangladesh, Indonesia, Vietnam, Philippines, Nepal, India, Pakistan and Sri Lanka. Apart from a range of modern remittance solutions, you will get peace-of-mind which we believe counts the most. The company is capable of delivering remittances to any beneficiary having an account with any of the branches of any banks in Bangladesh through its robust network. So, wherever your account is or you want to transfer cash payments we are able to send your money instantly. Our simplest and easiest payment procedure is highly secure with a PIN number and no hidden cost to ensure your comfort and trust. At CBL money transfer, we go all lengths to remit your hard-earned money safely to your loved ones – as our tagline says, ‘by your side, all the way’.

Our Management

Mr. Aziz Al Kaiser
Mr. Aziz Al Kaiser
Director

Mr. Kaiser, Chairman of The City Bank Ltd. is a prominent entrepreneur of Bangladesh. He comes with a sound academic and entrepreneurial background. A graduate from U. S. International University, Watford, London, U.K., Mr. Kaiser is involved in diverse areas of business like Shipping, Food, Telecom, ICT, Bank, Leasing, Real Estate etc. Along with being the Chairman of the Bank, Mr. Kaiser also holds Managing Director & Director positions in a number of Partex Star Group Companies. He is also the Chairman of the City Bank subsidiary in Malaysia namely City Bank Money Transfer Sdn. Bhd. Mr. has a keen interest in cricket and he was one of the Directors of the Bangladesh Cricket Board (BCB) and Chairman of the Marketing and Commercial Committee, BCB.

Under his leadership, Finance Asia recognized City Bank as the “Best Bank of Bangladesh” in terms of adopting global best practices by doing away with the age-old traditional decentralized banking model and culture. Mr. Aziz Al Kaiser, received awards like: The QFC – Asian Banker The Strongest Bank in Bangladesh 2010 award; The QFC – Asian Banker The Leadership Achievement award 2010 for its CEO; American Express Marketing Award for Outstanding New Card launch in 2010 – a major global award from American Express Company; MoneyGram International’s Best Corridor Collaboration – South Asia in 2011 in recognition of its remittance business growth. Recently the Bank became an IFC (International Finance Corporation) client, the 3rd such bank in the entire industry, after going through rigorous checks and due diligence undertaken by IFC. Mr. Kaiser’s vision ushered in the age of smart banking through digital channels. His exemplary leadership has put City Bank in the driver’s seat to lead the entire industry.
Mr. Farooq Sobhan
Mr. Farooq Sobhan
Independent Director

Mr. Farooq Sobhan, Independent Director of The City Bank Ltd. is a former Bangladeshi diplomat. He served in various capacities in the Bangladesh government and foreign service. He was Bangladesh's Ambassador to the People's Republic of China and High Commissioner to Malaysia and the Republic of India as well as the Foreign Secretary of Bangladesh.

Mr. Sobhan was born in 1940 in Calcutta during British rule into a Bengali Muslim family. He did his schooling in St. Paul's School, Darjeeling. He attended the University of Dhaka and the University of Oxford before joining the Foreign Service of Pakistan.

He also served as the chairman of the Board of Investment in with the rank and status of a State Minister. Presently he is the president of the Bangladesh Enterprise Institute, a private think-tank in the country that focuses on private sector development.

He is the president and chief executive officer of the Bangladesh Enterprise Institute, an independent research institute for the development of the private sector in Bangladesh.

He was executive chairman, Board of Investment and special envoy to the Prime Minister from 1997 to 1999. He served as chairman of the Group of 77 at the UN 1982–1983, and was chairman, UN Commission on TNCs from 1991 to 1992. He is a member of the Board of Governors of the South Asia Centre for Policy Studies, based in Kathmandu and was co-chairman of the Coalition for South Asian Co-operation from 1994 to 2001.

Mr. Sobhan was a visiting professor at the Elliott School for International Affairs at George Washington University in 2003, where he taught a post-graduate course on South Asia. He is the chairman of the board of trustees of the independent CSR Centre, an organization focused on corporate social responsibility, established in Dhaka in September 2007. He is the chairman of an advisory committee on counter-terrorism established in 2006, which includes senior officials of the government.

He is also the Director of the City Bank subsidiary in Malaysia namely City Bank Money Transfer Sdn. Bhd.

Sobhan's publications include a book entitled Opportunities for South-South Co-operation and as co-author, Shaping South Asia’s Future: Role of Regional Co-operation.
Mashrur Arefin
Mashrur Arefin
Director

Mr. Mashrur Arefin is the Managing Director and Chief Executive Officer of The City Bank Limited, Bangladesh.

He has extensive management background – spanning 23 years – in the retail line of business (including cards) within the financial services industry that includes short exposures in Australia and the Middle East. A pioneer of management transformation recognized by the entire industry. Led the way in the metamorphosis and centralization of two local banks consecutively.

Mr. Arefin has vast experience in retail bank product and process development, management of alternate delivery channels and customer management. His major strengths also include building and leading teams toward achieving business and financial goals. Strengths also include a first-rate understanding of retail and card credit and other risk management. His expertise in brand and marketing communications is well-renowned in the entire industry. With a literary knack, Mr. Arefin established himself as an accomplished writer as well as a dynamic leader in the banking industry.

 
Dato' Gurcharan Singh A/L Ujagar Singh
Dato' Gurcharan Singh A/L Ujagar Singh
Director

Dato' Gurcharan Singh befittingly enjoys the status of a pivotal personality in CBL Money Transfer Sdn Bhd. Due to his vibrant and enthusiastic character and motivating ideas, Dato' has been a source of good influence for the members of management and staff of CBL Money Transfer.

Dato' Gurcharan, a commercial pilot in his first calling, has imprinted his mark on the aviation industry and the challenging corporate world alike owing to spotless hard work, diligence to duty and the capacity of rationale and expedient decision-making. Dato' is also the Executive Director of Revenue Creation Sdn Bhd, a company engaged in the management and recovery of receivables for AmBank (Malaysia) Berhad and MBF Credit Card and a few other satisfied clients. He also holds substantial shareholdings in a number of other entities.

Dato' Gurcharan boasts of an overall working career of over 38 years. Dato' commenced his professional career back in 1971 as a cadet pilot with Malaysia Singapore Airlines (MSA). Subsequently, Dato' joined Malaysia Airlines System (MAS) where he held many management positions including Audit, Standards and Training. He was also involved in leasing and manpower planning.

For overseas stints, Dato' was seconded to Jet Airways India for a period of two years from 1997 to 1999. As director of operations and Vice President, Dato' played a key role in the setting up of the Operations Department for the airlines. Jet Airways is now considered to be one of the fastest-growing airlines earning exceptional profits from its operations.

During his service with Mas, Dato' also served as Vice President and then President of the Malaysian Airlines Pilot Association. At the international level, Dato' served in various capacities including Industrial Relations, Safety and Human Factors in Aviation in the International Federation of Airline Pilots Association.

For his excellent and meritorious professional and societal contributions, Dato' Gurcharan Singh was awarded the title of Dato' in 1994 by His Royal Highness the Sultan of Perak, the then Yang di Pertuan Agong of Malaysia.
Md. Saidur Rahaman Farazi
Md. Saidur Rahaman Farazi
Chief Executive Officer (CEO)

Mr. Md. Saidur Rahaman Farazi is the Chief Executive Officer of CBL Money Transfer Sdn. Bhd. He has 20 years of experience in the financial services sector. He is responsible for the business development overall administration and day-to-day financial operations of CBL Money Transfer Sdn. Bhd.

Mr. Farazi has vast experience in the banking sector. He started his banking carrier with Sonali Bank Limited, the largest bank in Bangladesh in 2001 as a probationary officer.  Then he worked with Eastern Bank Limited and now with The City Bank Limited. He was the Head of the Foreign Remittance Business of The City Bank Limited. His main responsibility as Head of Foreign Remittance was to expand the remittance business for the bank by establishing a relationship with different foreign exchange companies across the world. He was also responsible for setting up a smooth operation system in City Bank.  He has extensive training in General Banking, Foreign Exchange, and Anti-Money Laundering.

As he is one of the best performers in City Bank, the Management of the bank has deployed him to Malaysia as Chief Executive Officer to establish the business.