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