MoneyGram Signs Agreement with Emirates India International Exchange to Offer Money Transfers Services in UAE

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.