MoneyGram, Emirates India Int'l Exchange sign deal

Thursday, May 15, 2014

Money transfer and payment services company MoneyGram has signed an agreement with UAE's Emirates India International Exchange to offer money transfer services in the UAE.

This new relationship will offer consumers in the UAE more options when they need to get money to or from friends and family around the globe quickly.

"United Arab Emirates is one of the largest remittance sending countries in the world," said Grant Lines, executive vice president Asia Pacific, South Asia and Middle East at MoneyGram.

"The alignment with Emirates India International Exchange gives our customers even more convenient locations to send and receive funds securely and quickly.

"The success of Emirates India International Exchange is responding to our customer needs," said Ali Mohamed Shattaf, CEO, Emirates India International Exchange.

"The arrangement with MoneyGram will widen our range of offerings and cash transfer networks to more locations across the globe."

According to the World Bank, UAE residents sent more than $20.3 billion remittances in 2013.