History

Park West News Ltd. established in 1984 is providing foreign exchange and money transfer services under the trading name of Elite Forex to its valued clients. The CEO of the company with vast experience in banking domain along with his experienced team has served London’s finance market for past 20 years.

The Company

Western Union Edgware Road

Park West News Limited is registered in UK (England and Wales). With the formation of the company the registered office is 19 Seymour Place, London W1H, with its current operational address of the business is 87 Edgware Road, London W2.

The company over the years have earned credible reputation and the customers trust our name. We have maintained long term relationships with our third party business dependencies. This includes banks which we trade with, companies and regular customer who transact with us.

We proudly project ourselves as one of the law abiding companies in the UK. HMRC guidelines are followed to regulate the business. Timely auditing of business operations is carried out by internal auditing team and once a year by external auditing company. We believe in constant improvements and refinements in our services including customer service.

The company follows all the timelines set by HMRC for tax filings. We have a history of filing our tax returns on time and you can find the details here https://beta.companieshouse.gov.uk/company/01804746/filing-history

The company is under guidance of well experienced CEO who makes sure the operations of company are streamlined. He also makes sure his staff is been looked after for smooth running of the company. Tax affairs are his top priority and he closely works with the company accountant to file them.

The Business

The company’s main business operations is money exchange and money transfer services. We use third party company Western Union for money transfer services.

For money exchange also referred as bureau de change, we deal with more than 60 currencies. This includes the major world currencies like Euro, United States Dollars, Swiss Francs, Australian Dollars, and Canadian Dollars. We also regularly deal with Kuwaiti Dinar, Saudi Riyal, Emirati Dirhams and other Middle East currencies. We are providing best and competitive exchange rates to our customers.

We believe in long term relationships and so follow KYC procedures until we are satisfied. For regular customers or one time big transaction customers we follow the Customer Due Diligence and if required Enhanced Due Diligence. We make sure all our customers are made aware of our procedures and the transactions are confirmed only with customer’s agreement. We advise our customers to count their transacted amount before leaving the cash counter.

Elite Forex on one hand is pioneer in retail currency transactions but we have championed ourselves with wholesale dealings too. We are renowned as one of the major players in wholesale bank note dealings to the corporate clients, car dealers, import and export wholesalers.

Our future venture is to start ‘home delivery’ of currency. We know how important your time is and we want to make sure this seamless service is made available to our customers at earliest.

Directors of the company have a vision of expanding company’s business to different sectors. In near future the company will provide travel agency service to Hajj and Umrah. We expect huge number of bookings with the reputation that we have earned. The travel agency business will also benefit with the central location that our offices have.

The Team

CEO
Mr. Syed Ilyas, CEO

CEO

Mr. Syed Ilyas bin Azam is CEO of the company and comes with vast experience of banking sector. He has been previously employed with reputed banks for almost 10 years. Following his banking career he has been working in the currency industry for more than 17 years.

Mr. Azam is one of the most respected and admired currency expert in finance industry. He is being approached by various small and medium scaled company for advice. He had played key role in setting up processes for different companies across London who were newbies in currency market. Being observant is one of the key skills of Mr Azam, it is because of his skills, surveillance in operations, focussing on details, helped him setup the company. His efforts are equally complimented by his skilful staff who has proven valuable to the operations of the company.

Mr. Azam has chosen his staff members carefully and each one has been proven to be valuable in the operation of the business.

Mr. Akbar Syed

Director Compliance


Mr. Akbar Syed is associated with the company over twelve years. Throughout his employment tenure he has proven his skills when it comes to implementation of Anti Money Laundering regulations. We value his dedication and determination towards keeping the company compliant with various regulations.

Mr. Sayyid Razavi

Director Operations


Mr. Sayyid Razavi has thirteen years of experience in the money transfer and forex industry. When it comes to setting up operational procedures then Sayyid handles it all. He effortlessly resolves operational glitch if any and guarantees smooth running of the company’s services. We are proud to have Sayyid who is an asset to the company.

Mr. Raza Jeffery

Manager customer services


Mr. Raza Jeffery started with the company eight years ago. Brilliant in this communication and comprehension skills, Raza is the best person when it comes to customer complaint. He makes sure he listens carefully to all our customers and try to his best extent to satisfy customer queries. The company is happy to have employee like Raza who is hard working, smart and always puts the company first.

Mr Ali Sardar

Financial Control & Accounts


Mr. Ali Sardar (Financial Control & Accounts) he is our house accountant. He is one of the best in his job, make sure the financial activities are in control. The exchange rates for currencies are set correctly. He has streamlined multiple processes in the company for its betterment. A visionary who is good with technology and always wants the company to progress both financially and technologically. Apart from accounting he is vastly involved in the company’s operations. The company finds it privileged to have employee like Ali.

Our Professional Statement

  • No transaction is small, we focus on all
  • We don’t believe in commissions
  • Competitive currency exchange rates
  • Price guarantee (we will match exchange rate by bank, building society or post office)
  • Customer Service is at our heart.

About us

Elite Forex is one of the leading foreign exchange and international payment consultancies. Based in the heart of London at Marble Arch, Elite Forex is fully geared to providing international payment services to clients worldwide.

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