Farazy Ikram CIP
Chairman & CEO
Nec Group
Farazy Ikram CIP, an eminent figure in the business world, was born on July 25, 1978, into a moderate Muslim family in Jajira Upazila, Shariatpur district, Bangladesh. Being the fourth son among six brothers and two sisters of Hazi Abul Hashem Farazy and Hazi Uzala Begum, Farazy’s journey to success is marked by determination, resilience, and a commitment to creating positive change. He along with his wife, four daughters and a son reside in the UK.
Mr. Farazy’s educational pursuits led him to complete an MBA in International Money Transfer from Anglia Ruskin University, United Kingdom. However, his entrepreneurial spirit was ignited during his time in Italy, where he moved in 1997 with the support of his elder brother. His early business ventures faced both triumphs and setbacks. Despite encountering numerous obstacles, Farazy remained resolute in his vision to provide a service that would ease the process of sending money for expatriates. This determination led him to launch a money service business, even when faced with skepticism from family and friends. Undeterred by initial challenges, Farazy took on various business ventures while also engaging in notable social initiatives. He undertook extensive research and completed courses in anti-money laundering. demonstrating his commitment to ethical business practices. Amidst these endeavors, he realized that expatriates faced complexities in converting and sending money to beneficiaries. This realization prompted him to apply for licenses to establish legitimate money transfer businesses, a journey filled with obstacles that he successfully overcame. Ikram Farazy’s journey eventually took him to the United Kingdom, where he pursued an MBA at the University of Anglia Ruskin. His optimism, ambition, and dedication to simplifying money transfer for expatriates set him on a path to transform the industry. Collaborating with his two elder brothers and a brother-in-law, Farazy secured an MSB License from the Central Bank of Italy in 2003, marking the beginning of his journey into the money service business. Over the years, he obtained licenses from the Central Bank of Spain and FCA, UK establishing Nec Money Transfer Limited, a dream he had tirelessly pursued.
The relentless Farazy’s unwavering commitment to excellence and security became evident through his development of a state-of-the-art security software that revolutionized operations at Nec Money Transfer Limited. In his capacity as Chairman and CEO, Farazy was not only a leader but also a strategist. He meticulously formulated comprehensive plans and policies that aligned with the company’s values and objectives. Moreover, his innate ability to foster strong relationships with expatriates contributed to the organization’s reputation as a reliable and trustworthy institution. The expatriate community, spanning various countries. came to trust Nec Money Transfer Limited for its consistent and dependable service.
One of Farazy’s hallmarks was his dedication to providing customer-friendly services. This commitment was not only recognized within the company but also echoed throughout the fintech industry, earning Nec Money Transfer Limited a distinguished status as a global brand. The numerous accolades and remittance awards bestowed by Bangladesh Bank further validate the company’s prominence. Notably. being acknowledged as one of the highest remittances sending companies worldwide underscores the global impact of Farazy’s leadership and the organization’s services.
In a rapidly evolving financial landscape, Farazy’s efforts in establishing Nec Money Transfer Limited as a trailblazing fintech entity have been exceptional. Nec Money collects remittances from more than 40 countries and send them 90 plus countries. His focus on security, commitment to customer satisfaction, fostering expatriates to use legal channel in terms of sending money and strategic acumen have cemented Nec Money Transfer Limited’s position as a reliable partner for expatriates seeking dependable remittance services.
Through his leadership, Farazy has not only uplifted his business but has also contributed significantly to the financial empowerment of expatriates and the recognition of his nation on the global stage.
Beyond his business success, Farazy’s humanitarian contributions are noteworthy. His vision for quality education for expatriates’ children led to the establishment of the ‘Madani International School and College’ in Italy. Committed to moral and religious education, he established the ‘Hazi Ujala Begum Mohila Madrasa’ in Bangladesh and the ‘Farazy Ikram Foundation,’ which offers relief funds and goods to those affected by natural disasters.
Moreover, Farazy’s investments have created employment opportunities, directly benefiting thousands of unemployed individuals and His involvement spans various institutions. His multifaceted role as a Chairman & CEO of Nec Money Transfer Limited, UK & Australia; Nec Express LLC, USA; Nec LLC, UAE; Nec Pay Limited, Cyprus; Nec Express Ltd, Canada; Nec Money (Pty.) Ltd., South Africa; Nec Fast, UK; Nec Money Transfer Japan Ltd., Japan; Nec Money UAB, Lithuania; Nec Travels Ltd., UK, Italy, Bangladesh; Madani Int. School & College, Italy; FARAZY QURAN ACADEMY, Italy; Vice Chairman of Farazy Hospital Ltd, Bangladesh, Farazy Dental Hospital & Research Centre, Bangladesh; Director of National Exchange Company, Italy; Axon College, UK; President of NRB Global Remittance Companies’ Association underscores his versatile leadership and influence across countries and sectors. To sum up, the path of Farazy Ikram CIP is a monument to his undying tenacity, business skill, and dedication to social responsibility. He rose to fame in the world from his native Italy, revolutionizing the money service sector and significantly advancing employment, education, and humanitarian causes. His legacy encompasses good change and elevation for people, communities, and countries, going beyond his professional accomplishments.
