Wednesday 20 September 2017
 
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Money transfer

Remittances to developing markets to hit $6.5trn

Remittances to developing markets are estimated to reach around $6.5 trillion between 2015 and2030, said an industry expert. These remittances have proved to be a powerful force in drastically improving the quality of people&rsquo

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DIB launches an instant remittance solution to India

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched an instant funds transfer solution for those wiring money to India. The new service ‘DIB Express Transfer’ guarantees that funds can be wired

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TerraPay, India bank partner for money transfer

TerraPay, the world's first mobile payments switch, has partnered with Yes Bank, India's fourth largest private sector bank, to enable real-time international money transfers to bank accounts in India. Powered by TerraPay&

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Fintech ‘will redesign GCC financial sector by 2020’

Fintech has the potential to alter financial services in the GCC by 2020, said an industry expert, adding that service is still in emerging status due to the lack of consumer confidence, issues of scale, and regulatory compliance.

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Xpress Money sees double-digit growth

Xpress Money, one of the world’s leading money transfer brands, witnessed a 12 per cent growth in its global operations in 2016, propelled by customer loyalty and a strong agent network. Xpress Money saw its traditional remi

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Remittances to developing countries to rise in 2016

Remittances to low and middle-income countries (LMICs) are projected to hit $442 billion in 2016 – an increase of 0.8 per cent over the previous year, according to a World Bank report. Remittances to the Mena region are expe

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WU offers remittance via mobile, social media

Western Union, a leader in global payment solutions, has launched a technology platform that integrates with leading consumer messaging and social media platforms to offer quick and convenient money transfers worldwide. The WU Con

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UAE Exchange ties up with Filipino bank

UAE Exchange, a leading global money transfer and foreign exchange brand, has tied up with Philippine’s Rizal Commercial Banking Corporation (RCBC), to offer remittance services in real time. Now Filipinos, living outside th

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UAE forex group turns up heat on grey transactions

UAE’s Foreign Exchange and Remittance Group (FERG) has turned up the heat on money laundering and frauds at its recent anti money laundering (AML) and combating terrorist financing (CTF) conference in Dubai. The aim of the c

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Iran uses China bank to transfer funds for Quds ops

Several companies in China receive money from Iran through a Chinese bank and such transfers help to finance international operations of the Islamic Revolutionary Guards Corps' elite Quds Force, a report said. The Western inte

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