UAE-based RakBank has expanded its remittance service, RakMoneyTransfer, offering a 60 seconds money transfer to India through a network of 26 major banks including Axis Bank, ICICI Bank and more.
Not only is RakMoneyTransfer a tr
Mobile and digital channels offer a huge growth opportunity for international money transfer organisations (IMTOs) as the industry still remains still 94 per cent 'brick and mortar', an expert said.
Digital channels provid
Egypt received an estimated $19.7 billion in remittances from the world over in 2015, of which $1.83 billion came from the UAE, according to remittance data of World Bank.
Meanwhile, Jordan received $3.8 billion from countries acr
UAE Exchange, a top remittance solutions provider, has announced a six per cent year-on-year growth in its remittance transactions to the Arab corridor in the first quarter (Q1) of 2016.
The company has also posted rise in remitta
Wall Street Exchange, a leading money exchange service provider in the UAE and a member of Emirates Post Group, has reported a 10 per cent growth in its remittance business for 2015.
The chief marketing and support services office
Saudi Arabia's army of migrant workers will be among the biggest losers from the slump in oil prices and the impact will reverberate to poor countries across the Middle East and South Asia where many of them originate.
Axis Bank, the third largest private sector bank in India, continues to expand its partner network across the GCC region aiming to further strengthen its remittance offerings, said a top official.
The bank has a specific focus on
Expatriates working in Gulf Cooperation Council (GCC) countries sent $98 billion in outward remittances in 2014, according to a World Bank report.
GCC countries have seen a significant increase in migration inflows in the
The United Arab Emirates (UAE) does not plan to tax the incomes of individuals or remittances abroad by foreign workers in the country, a senior government official was quoted as saying in local newspaper Gulf News on Wednesday.
Emirates NBD, a leading bank in the region, has expanded its partner bank network in India to include State Bank of India (SBI) for the DirectRemit 60 seconds remittance platform.
With this partnership, E