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 8863 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
24 Karat Gold Elixir by Mehrunisa Launches in the UAE Beauty Market [11230-Views]
Interview with Asil Attar, CEO of Al Yasra Fashion [10870-Views]
Festive Gift Sets from Bubble T [10022-Views]
Get Ready for Party Season with Lottie's new make-up hits [9931-Views]
Holiday Gifting Made Easy with Wet n Wild Beauty Specials [9681-Views]
DKNY Launches (Limited Edition) Holiday 2018 Collection [9077-Views]
Tissot PR100 Lady Sport – Chic Glamourous Festive Season [9022-Views]
Winter wool Christmas must- haves [7808-Views]
New 1948 Seamaster Watches Join the Ranks' [7534-Views]
Samsung Galaxy A9 – Designed to capture the world in its fullest [6972-Views]
Tissot PR100 Lady Sport – Chic Sporty yet Feminine [6673-Views]
Chic and Stylish Wraps with a 3 in 1 effortless concept [6582-Views]
Michael Kors Collection Transeason 2019 Press Presentation [6472-Views]
Dubai Shopping Festival Wednesday Specials at The Smile Bar [6362-Views]
Santa is Coming to Town! [6100-Views]
9th Edition of China Homelife Exhibition to Have Over 3000 Exhibitors Across Business Sect... [5582-Views]
New Menu alert: Moombai & Co. launches exciting and delicious food items to its menu [5533-Views]
Els Back for the 30th Omega Dubai Desert Classic Aiming for a Record Fourth Victory [5258-Views]
CITIZEN's “#MyBetterStartsNow” campaign seeks out UAE's inspired and driven individuals [4935-Views]
UAE students win top awards at international math competition in Malaysia [4910-Views]
Enjoy 11 exciting new street entertainment shows at BOLLYWOOD PARKS™ Dubai [4746-Views]
Model of the Year Takes Camo to Catwalk Level [4709-Views]
Get Party Ready with Champion Cleaners [4575-Views]
Marni Introduces Marni Rothko, A 7-layer Acetate Frame With a Vivid, New Color Palette [4508-Views]
'Introducing the GUESS Jeans Fall 2018 Collection' [4465-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories