CHICAGO: With many fists to its credit, including a successful launch in Chicagoland with two facilities now, Moneydart is now set to expand its activities by taking up increasingly foreign exchange transactions.
Shehla Jamil, head of Chicago facility, said in a talk to this paper that her agency would deal with and exchange any foreign currency at the most “competitive and best possible rate and the client would get the highest possible rate for the purchase or selling of foreign currency held by him. One can bring any currency and we will offer the best possible rate for its exchange,” she said.
Moneydart, she said, would undertake this transaction without charging any fee and that it is a novel feature with the client’s best interests in mind. “Others charge a fee ranging from one per cent to 10 percent,” she said.
Moneydart was no doubt was licensed to deal in foreign exchange but it was mostly concentrating on the money transfer business so far. It will continue to keep up the pace in this area and is expected to cover almost all the States in this country. “So far the company has been licensed to operate in 35 States. In Chicago it has two full fledged faculties – one in Schaumburg and the other in Chicago. And both are doing well meeting the highest level of expectations and confidence from its patrons,” she said in an exclusive talk to this paper.
Shehla feels that the new thrust for exchange of foreign currencies at competitive and no fee basis would prove a big boon to the customers who otherwise would have to pay fee and still may not be sure about the exchange rate for their currencies.
Moneydart has already tapped big hotels, tour operators and corporations for soliciting their business and the efforts, according to Ms Shehla, are quite rewarding and encouraging
It was Prabhakar Patel, now Assistant Vice President and Project Head for North America, who was instrumental in getting Moneydart in Chicago and putting it on track. He has now climbed the managerial ladder and is now setting his sight on having Moneydart licensed in all States of USA.
He holds a bachelor’s degree in accounting and business administration from M. S. University, Gujarat, India. He joined Moneydart as a Business Development Manager in 2007 and became Assistant Vice President (Midwest) in 2009 handling Chicago operations while ensuring state and federal regulatory compliance for the Midwest states of Texas and Georgia.
Prabhakar has effectively expanded the network and implemented various marketing initiatives to increase brand exposure in the region. Prior to joining Moneydart in the US, Prabhakar managed operations and finances of several hotels, real estates and coffee plantations in Kenya.
Surendra Ullal & Harish Rao
