Dubai PR Network, Online Press Release from Dubai and Middle East
 
Money, Business & Investments(Banking & Investments)
Filter PR by
  
Xpress Money sees 26% Increase in Remittance Transactions from UAE to Uganda
 

United Arab Emirates, 27th November 2017:  Xpress Money, one of the most dependable money transfer brands in the world, reported an average growth of 26% in the number of remittance transactions from UAE to Uganda over the last three years. The company has also seen a 28% increase in the volume of money being sent by expats in the UAE to their home country, Uganda.

For years, Xpress Money has been a preferred choice for Ugandan expats in UAE to send money back home; offering convenient and cost-effective money transfer options like Cash-to-Cash and Cash-to-Mobile Wallet services to Uganda. With over 250 agent and sub agent partners in Uganda like UAE Exchange, Diamond Trust Bank, dfcu Bank and a host of other trusted banking and non-banking financial institutions, an Xpress Money location is easily accessible in Uganda, making receiving money even more convenient for the beneficiaries in the country. 

“This phenomenal increase in number of transactions from UAE is great news for Uganda’s economy, and for Xpress Money. For us, Uganda has always been a significant market, both in terms of inward and outward remittances. We have strategically created a wide network of agent partners in Uganda to ensure an efficient and cost-effective money transfer ecosystem for our Ugandan customers” says Xpress Money’s COO Sudhesh Giriyan. 

“This rapid increase in remittances encourages us to further increase our footprint in Uganda and offer more convenient ways for Ugandan expats to securely access their money.” adds Giriyan. 

Remittances sent to Uganda from abroad, locally known as kyeyo, play an in important role in the country’s economy in terms of an increased flow of foreign exchange and high economic growth. As per a World Bank report, Uganda received nearly $1.02 Billion in remittances in 2016. This number is expected to grow further in 2017. Traditionally, Uganda receives remittances mainly from the UK, USA, Europe, United Arab Emirates, South Africa and Japan. The growth in remittance transactions also indicates that more and more Ugandans are choosing UAE for better prospects. 


Posted by : Dubai PR Network Editorial Team
Viewed 5722 times
PR Category : Banking & Investments
Posted on : Monday, November 27, 2017  9:54:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Union Coop Hires 30 Emirati during Q3
Next Story : Johnson's Baby Wipes Voted “Baby Wipe Brand of the Year” by ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Fresh Hair in an Instant with SHOW Beauty [13597-Views]
Amadeo® Fleurier 39 “Fan” [11730-Views]
Show/Pop-up Event “Pret-A-Cover™ Buyers Lane” to Be Launched in Dubai From March 28th to A... [10169-Views]
Mother's Day Gift Guide 2018 from The Little Birdy Group [10169-Views]
Moreish Café in Dubai introduces a healthy Quinoa Burrito [9595-Views]
True Colours [9455-Views]
Robinsons Honored for Outstanding Store Design [9333-Views]
Splash receives 2 awards [8729-Views]
UAE Team Emirates' Mirza Takes Gold at Asian Cycling Championships [8503-Views]
Phenomenal development in falconry racing from small beginnings: HHC Deputy CEO [8485-Views]
WGS 2018: Opening Session Highlights Importance of Embracing Smart Living to Enhance Quali... [8363-Views]
RAK Hospital launches the biggest weight-loss challenge in association with MoHAP, RAK [7503-Views]
2XL launches Malmo Bed with floral designs for a vintage shabby chic inspired master bedro... [7155-Views]
Food Lovers Rejoice: Dubai Food Festival Is Back This Month [6808-Views]
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018 [6759-Views]
Mealtop, Introducing a Whole New Dessert Experience [6161-Views]
Optim-Eyes Lashes & Brows with Filorga [6063-Views]
Al Ahli Holding Group to redefine the UAE value shopping category through an AED 1.25 bill... [5850-Views]
NEZO launches new identity to guide consumers in selecting the best salt for their culinar... [5307-Views]
WGS 2018: Governments Need to Prioritize Wellbeing of Citizens, Say International Experts [5264-Views]
Safilo Group Reveals Its Spring/ Summer 2018 Collection [5258-Views]
Redefining the Skin Clinic Experience. #allnewkaya opens in Muscat City Centre! [5252-Views]
The new BMW HP4 RACE arrives at Abu Dhabi Motors – one of just 750 built [5222-Views]
The Robots Are Coming: Ministry of Finance Brings Artificial Intelligence to Dubai in a Bi... [5130-Views]
Leading Scientists, Astronauts Share Insights on why Space Exploration Matters at WGS 2018... [4984-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories