Saturday, 26 June 2010

MoneyGram makes transfer deal with Abu Dhabi bank

MoneyGram International Inc. said Thursday it has signed a deal with National Bank of Abu Dhabi for international money transfer services via mobile phones.

The deal makes the money transfer capability available to the bank's customers throughout the United Arab Emirates.

Financial details of the deal were not disclosed.

The World Bank has recently estimated remittances from the UAE to be between $15 billion and $20 billion in 2009 with potential to continue growing in the coming years. In addition, the UAE has one of the highest mobile phone penetration rates in the world, MoneyGram said.

Shares of MoneyGram rose 3 cents to close at $2.62.

1 comment:

  1. Nice information for transfer money online. it's facilitate foreign exchange business with the help of money transfer services and also transfer to overseas.