MoneyGram Int'l, AIBL sign money transfer deal
Sunday, 24 May 2009
FE Report
MoneyGram International, a leading global Money transfer company, and Al-Arafah Islami Bank Limited (AIBL) recently signed an agreement to launch MoneyGram international money transfer services at 50 branches of the bank countrywide.
"We are pleased to provide MoneyGram's money transfer services across Bangladesh and to offer the convenience of service between 190 countries and territories. We are looking to an exciting and fruitful relationship. MoneyGram's money transfer service will add value to our customers and widen the array of services that we offer through our branches", said AIBL Managing Director MA Samad Sheikh.
The agreement supports MoneyGram's network expansion plans in Bangladesh and also enables the bank to enrich its services to its clients.
"Bangladesh is one of the important remittance markets in the world. We are continuously expanding our footprint in Bangladesh and via this strategic alliance with Al-Arafah Islami Bank that supports our growth plans, it helps us to make our fast, reliable and convenient money transfer services more accessible across the country", senior regional director of MoneyGram's Asia Pacific and South Asia region Nick Cunnew said.
AIBL is the twelfth bank in Bangladesh to offer MoneyGram's money transfer services. Globally MoneyGram has 180,000 locations including 17,800 agent locations on the Indian Sub-continent. MoneyGram money transfer services have been available in Bangladesh for approximately 10 years.
MoneyGram regional director for South Asia Harsh Lambah said, "Bangladesh is an important market with more than US$ 8.22 billion remitted to the region in 2008 according to the Bangladesh Bank. We are pleased to launch our services with the bank through their network".
With the large number of Bangladeshis settled in the US, UK, Italy, Canada, Australia and the Middle East, remittance of funds from these countries to their families in Bangladesh is high.
MoneyGram International, a leading global Money transfer company, and Al-Arafah Islami Bank Limited (AIBL) recently signed an agreement to launch MoneyGram international money transfer services at 50 branches of the bank countrywide.
"We are pleased to provide MoneyGram's money transfer services across Bangladesh and to offer the convenience of service between 190 countries and territories. We are looking to an exciting and fruitful relationship. MoneyGram's money transfer service will add value to our customers and widen the array of services that we offer through our branches", said AIBL Managing Director MA Samad Sheikh.
The agreement supports MoneyGram's network expansion plans in Bangladesh and also enables the bank to enrich its services to its clients.
"Bangladesh is one of the important remittance markets in the world. We are continuously expanding our footprint in Bangladesh and via this strategic alliance with Al-Arafah Islami Bank that supports our growth plans, it helps us to make our fast, reliable and convenient money transfer services more accessible across the country", senior regional director of MoneyGram's Asia Pacific and South Asia region Nick Cunnew said.
AIBL is the twelfth bank in Bangladesh to offer MoneyGram's money transfer services. Globally MoneyGram has 180,000 locations including 17,800 agent locations on the Indian Sub-continent. MoneyGram money transfer services have been available in Bangladesh for approximately 10 years.
MoneyGram regional director for South Asia Harsh Lambah said, "Bangladesh is an important market with more than US$ 8.22 billion remitted to the region in 2008 according to the Bangladesh Bank. We are pleased to launch our services with the bank through their network".
With the large number of Bangladeshis settled in the US, UK, Italy, Canada, Australia and the Middle East, remittance of funds from these countries to their families in Bangladesh is high.