Oman UAE Exchange to set up five electronic kiosks for remittances

Date

5/18/2016 4:48:45 PM

(MENAFN- Muscat Daily) Muscat-

Expatriates in Muscat will soon be able to remit money to their countries through self-service electronic kiosks.

This will be a first-of-its-kind initiative to be launched by any exchange house in Oman, said Boban M P, CEO, Oman UAE Exchange during a press conference at Haffa House on Wednesday.

'These five electronic kiosks will help expatriates remit money faster and with greater ease without visiting an exchange house,' Boban said. 'We hope to get the kiosks ready within three months.'

Boban added, 'We will also be starting the online money transfer facility in Oman. We have the online service in Bahrain and Qatar along with ten other countries. The technical part has already been taken care of.'

Oman UAE Exchange mostly serves expatriates from Bangladesh, Pakistan and India, and these three countries make up for almost 65 per cent of the total remittances.

Another plan is to establish direct links with eight banks in Bangladesh so that customers can receive money faster.

'Customers in Bangladesh have to wait for almost a day or two to receive their money. The integration with banks will speed up the service,' he said. 'At present Oman UAE Exchange has 52 branches of which five have already been relocated. We are planning to relocate some more branches.'

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