April 24, 2014 13:00 UTC

MoneyGram Signs Agreement with Emirates India International Exchange

DALLAS--(BUSINESS WIRE)-- MoneyGram (NASDAQ: MGI), a leading global money transfer and payment services company, announces an agreement with Emirates India International Exchange, a local currency exchange house, to offer money transfer services inside its locations in the UAE.

This new relationship will offer consumers in the UAE more options when they need to get money to or from friends and family around the globe quickly.

“United Arab Emirates is one of the largest remittance sending countries in the world,” said Grant Lines, executive vice president Asia Pacific, South Asia and Middle East at MoneyGram. “The alignment with Emirates India International Exchange gives our customers even more convenient locations to send and receive funds securely and quickly.”

“The success of Emirates India International Exchange is responding to our customer needs,” says Ali Mohamed Shattaf, CEO, Emirates India International Exchange. “The arrangement with MoneyGram will widen our range of offerings and cash transfer networks to more locations across the globe. In the last 34 years we have strived to offer affordable remittance solutions to the customers with continuous product innovations and partnerships.”

According to the World Bank, consumers in the United Arab Emirates sent more than $20.3 billion* of outward remittances in 2013. It is home to many nationalities, with the majority coming from the Indian Subcontinent, South East Asia and Arab nations.

About MoneyGram International

MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide through a global network of 336,000 agent locations - including retailers, international post offices and financial institutions - in more than 200 countries and territories. MoneyGram also offers bill payment services in the United States and Canada. MoneyGram is listed on the NASDAQ Stock Exchange under the ticker symbol MGI. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.

About Emirates India International Exchange

Emirates India International Exchange was established in 1980 as part of Shattaf Group of Companies a leading business house in the UAE having blazed trails in Steel Manufacturing, Jewelry Manufacturing and Retail, General Trading and Real Estate businesses. Inspired by rich legacy Emirates International Exchange aim to enrich the customer experience in every service delivered for money transfer solutions. For more information, please visit www.emiratesexchange.com.

*World Bank Fact Book 2013

Contacts

MoneyGram International
Michelle Buckalew, 214-979-1418
media@moneygram.com


Source: MoneyGram International