Prime Bank Limited established its fully-owned subsidiary "Prime Exchange Co. Pte Ltd." to offer remittance services to Bangladeshi nationals in Singapore, which started its operation from 8th July, 2006, under remittance license received from Monetary Authority of Singapore (MAS) and approval of Bangladesh Bank. Mr. Tanjil Chowdhury is the Chairman of the Board of PEC. and Professor Ainun Nishat is the other member in the Board . The Exchange Company is located at 2A Desker Road, (2nd floor), Singapore 209549 a very convenient place at Serangoon area near Mustafa Centre, where Bangladeshi nationals congregate during weekends for social interaction and money remittance services. Opening of the fully owned subsidiary in Singapore to offer remittance services to Bangladeshi nationals will add new dimension to the Bank's remittance operation.