Abu Dhabi-based Xpress Money, a leading money transfer service, has expanded its network to include Ireland and Denmark.

According to latest figures, inward remittances to Ireland stand at about $618 million, while outward remittances are at $2 billion.

Xpress Money hopes to leverage this market and provide its instant money transfer service to the top source countries that are US, Nigeria, Germany, Philippines and India, it said in a statement.

In 2009 the inward remittance to Denmark was at $926 million and has gone up to $952 Million in 2010.

Outward remittances were significantly higher at $3.4 billion.

The company’s first agent in the country is Quick International Money Transfer who will bring on board 40 sub agents, the statement said.

"Europe is an extremely dynamic market, with its large and diverse immigrant population,” Sudhesh Giriyan, vice president, Xpress Money.

“The expansion into Denmark and Ireland is a great start and we are now present in 8 countries in the continent and this is just the beginning. With careful analysis and study we hope to cater specifically to our customers needs we hope to make an indelible impression in the minds of our customers and make Xpress Money a household name,” he added. – TradeArabia News Service