MoneyGram Signs Agreement with Bank AlJazira

JEDDAH, Saudi Arabia--(BUSINESS WIRE)--

MoneyGram MGI, a leading global money transfer and payment services company, announces an agreement with Bank AlJazira (BAJ) to offer its services at multiple bank and remittance centers. The alliance gives consumers access to over the counter global money transfers and the ability to quickly send and receive money to friends and family around the globe.

“Our customers in Saudi Arabia need quick access to places where they can send and receive funds,” said Grant Lines, senior vice president Asia Pacific, South Asia and Middle East at MoneyGram. “This alignment answers our customers' needs, not only in this region, but worldwide.”

Bank AlJazira offers personal, corporate, investment and private banking services and it is renowned for its customer-centric philosophy and out-of-the-box thinking.

“We are very excited to join hands with MoneyGram,” says Nabil Al-Hoshan, CEO at Bank AlJazira. “We offer world-class customer service in our Fawri money remittance centers. MoneyGram will play a central role in helping to meet our goals in 2014.”

Saudi Arabia is the second leading remittance-sending country in the world, with an estimated $27.6 billion of outward remittance in 2012.

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 334,000 agent locations -- including retailers, international post offices and financial institutions -- in 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.