FINAL NOTICE

ACTION

1.
For the reasons listed below and pursuant to Regulation 10(1)(h) (as applied by
Regulation 14) of the PSR, the Authority has decided to cancel the registration
granted to Shahjalal Umrah & Hajj Company Limited (“Shahjalal”), as a small
payment institution under the PSR.

2.
The Authority gave Shahjalal a Decision Notice on 10 July 2013 (“the Decision
Notice”) which notified Shahjalal that for the reasons given below and pursuant to
Regulation 10(1)(h) of the PSR, the Authority had decided to cancel the
registration granted to Shahjalal as a small payment institution under the PSR.

3.
Shahjalal has not referred the matter to the Tribunal within 28 days of the date
on which the Decision Notice was given to Shahjalal.

4.
Accordingly, the Authority has today cancelled Shahjalal’s registration as a small
payment institution.

DEFINITIONS

5.
The definitions below are also used in this Final Notice:

“the Act” means the Financial Services and Markets Act 2000;


“the Authority” means the body corporate previously known as the Financial
Services Authority and renamed on 1 April 2013 as the Financial Conduct
Authority;

“the PSR” means the Payment Services Regulations 2009;

“the Tribunal” means the Upper Tribunal (Tax and Chancery Chamber).


REASONS FOR THE ACTION

6.
On the basis of the facts and matters and conclusions described in the Warning
Notice given to Shahjalal on 6 June 2013, and in the Decision Notice, the
Authority has concluded that Shahjalal has failed to notify the Authority of a
change in its principal place of business. This failing has led the Authority to
conclude that:


Shahjalal has failed to meet its obligation to notify the Authority of a
change in the address of its principal place of business;


Shahjalal’s failure to provide current and adequate contact information to
the Authority is preventing the Authority from regulating Shahjalal
effectively; and


Shahjalal has failed to demonstrate a readiness and willingness to comply
with its ongoing regulatory obligations and to deal with the Authority in an
open and co-operative way. Therefore it is desirable to cancel Shahjalal’s
registration as a small payment institution in order to protect the interests
of consumers, in accordance with Regulation 10(1)(h) of the PSR (as
applied by Regulation 14).

DECISION MAKER

7.
The decision which gave rise to the obligation to give this Final Notice was made
by the Regulatory Decisions Committee.

IMPORTANT

8.
This Final Notice is given to Shahjalal in accordance with section 390(1) of the Act
(as applied by paragraph 7(b) of Part 1 of Schedule 5 to the PSR).

9.
Sections 391(4), 391(6) and 391(7) of the Act (as applied by paragraph 7(c) of
Part 1 of Schedule 5 of the PSR) apply to the publication of information about the
matter to which this Final Notice relates. Under those provisions, the Authority
must publish such information about the matter to which this Final Notice relates
as the Authority considers appropriate. The information may be published in such
manner as the Authority considers appropriate. However, the Authority may not
publish information if such publication would, in the opinion of the Authority, be
unfair to Shahjalal or prejudicial to the interests of consumers.

10.
The Authority intends to publish such information about the matter to which this
Final Notice relates as it considers appropriate.

11.
For more information concerning this matter generally, please contact Edward
Thompson at the Authority (direct line: 0207 066 3564).

John Kirby
Enforcement and Financial Crime Division