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 6942 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
Grand Mall Opens the 52nd Outlet in Al Musallah - Sharjah [12261-Views]
Eid- Al- Fitr Gift Guide 2018 [11322-Views]
LOOTAH Perfumes launches four new springtime fragrances for Him and Her [9730-Views]
Leading Professional Beauty Distributor Nazih Cosmetics Celebrates the launch of Ardell Ma... [8424-Views]
GUESS Launches Ramadan Collection 2018 [8278-Views]
Meet the FOREO family as they share their top tips for radiant skin during the holy month [8089-Views]
Amani Glam Collection [7838-Views]
LOOTAH Perfumes launches fragrant oud ‘Ambwood' [7808-Views]
Experience 5 Seconds to New Skin with OXYGEN-PEEL from Filorga [7747-Views]
Three Trends to Try with Palladio Beauty [7387-Views]
Lip Stick to my Heart - GOSH New Collections [6893-Views]
Swatch Introduces Its Latest Spring-summer 2018 Collection [6246-Views]
Toyota Rush makes a new beginning in the UAE [6210-Views]
Carrera UAE Exhibition [6173-Views]
Lexus sweeps two podium finishes at round two of 2018 AUTOBACS SUPER GT 500 series [6112-Views]
bebe Launches First Ever Ramadan Capsule Collection [5661-Views]
New Master Maserati Driving Courses for 2018 [5588-Views]
Max Fashion Reveals Latest 2018 Fashion Trends at Exclusive Trunk Show [5582-Views]
Global Light and Power Celebrates 10 Years with the Opening of their New Showroom in Dubai [5374-Views]
Dubai's New Flagship Rolex Boutique Offers Unique Experience [5356-Views]
Celebrate a Traditional Ramadan at the First Swissôtel in Dubai [5234-Views]
Care for your baby's sensitive skin with Corine de Farme [5148-Views]
Diabetes & Ramadan (DAR) Alliance and Sanofi introduce new integrated digital hub to help ... [5106-Views]
HydroPeptide Launches Solar Defense Products in UAE [5063-Views]
Enhance your natural beauty while staying active with The Body Shop's Sportify Make-up Lin... [5057-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories