New mobile remittance scheme for Indians in UAE
Strong Indian workforce, engaged in different kind of activities, has a reason to cheer as UAE based telecom firm has announced to enter in the $10 billion remittance market with a new service, making it easy to for Indians to transfer money home using cell phones.
Telecom Operator Etisalat and Citibank joined hands to roll out mobile remittance in India. The scheme would be made available for the nationals of Bangladesh, Pakistan and Egypt in next few months. The move can prove dearly to currency exchange houses, largely depended on money transfer business.
Essa al Haddad, Chief Marketing Officer of Etisalat added, "We are making it available for our Indian customers to send money to their relatives in India." However, the charges for transfer money are yet to be decided but it can be availed using cell phones of any kind.
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