Wall Street in deal with India's Axis Bank
Dubai, October 16, 2007
Wall Street Exchange Centre, a subsidiary of Emirates Post, has entered into a remittance arrangement with Axis Bank (formerly UTI Bank) to facilitate speedy remittances to India.
Axis Bank has 560 branches across India.
Under the new partnership, credit into Axis Bank account holders is instantaneous, and credit into beneficiary accounts through other banks takes place seamlessly via the NEFT facility provided by Reserve Bank of India.
“The dynamic and diverse Indian market can be best serviced by forging partnerships with players like Axis Bank that combine technology with local expertise to deliver quality services,” said Abdullah Bin Ghalib, group managing director of Wall Street Exchange. “Wall Street is looking forward to boosting our share in remittances to India through this alliance with one of India’s major banks.”
Bin Ghalib said a large number of Indian expatriates had already started experiencing the speed remittance facility through Wall Street Exchange Company, Dubai.
“Wall Street Exchange Centre is exploring further diversified value-added services to expatriate Indians, through a proposed tie-up between Axis Bank and our subsidiaries, including Instant Cash Worldwide Ltd.,” added Bin Ghalib. “In the long run, the partnership will enable us to offer a well-rounded portfolio of services through our alliance with Axis Bank.” – TradeArabia News Service
More Finance & Capital Market Stories
- ABG units win top Islamic finance award
- Finance House approves 25pc cash dividends
- Qatar 'most expensive country in Gulf'
- Egypt regulator sets rules for index
- Dubai Islamic eyes Kenya, Indonesia for expansion
- ADCB to buy back 3pc of its shares
- GCC insurance growth outpaces developed markets
- Bahrain 'faces budget deficit, inflation challenges'
- Global Payment Services wins key certification
- BBK unveils big India expansion plans
- Kuwait GDP growth to hit 3.5pc in 2014
- Gulf shares tumble over EM exposure cut
- GCC bonds to gain from macro-economic climate
- French Business Council Dubai members up 18pc
- Egypt economy growth seen less strong than thought
- Sharjah approves $4.2bn budget for 2014
- Saudi non-oil sector posts solid growth in Feb
- Seera total income rises to $34m
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator