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| In order to increase inflow of foreign remittance of Bangladeshi expatriates to send their remittances through official/banking channel, during the fiscal year 1999-2000 Ministry of Finance, Bangladesh took special initiative and advised all Banks to open exchange house in countries where Bangladeshi people work and live. Janata Bank PLC is one of the largest state owned scheduled commercial banks in Bangladesh and In abidance of this instruction, the Bank considered to open an exchange house in Italy as a huge number of Bangladeshis were then working and living in Italy. At that time, there was no easy channel to remit their hard-earned money. |
| As consequence, Janata Exchange Company srl, Italy was incorporated on 18 January, 2002 with 100% ownership of Janata Bank PLC as a subsidiary and started its operation on 19 June, 2002 with its first branch in Rome city. Later on, in accordance with approval of The Ministry of Finance, Bangladesh Government another branch of the company started operation in Milan city from 7 March, 2004. |
