Allahabad Bank, UAE firm tie up for remittance facilityMarch 30th, 2009 - 5:48 pm ICT by IANS
Kolkata, March 30 (IANS) City-based Allahabad Bank signed a pact Monday with the Gulf-based money transfer and exchange house UAE Exchange and Financial Services for promoting its own money transfer services, the company said here.
According to the state-owned bank’s chairman and managing director K.R. Kamath, the association would “create enormous scope” for providing remittance facilities to the bank’s customers and augmenting its fee-based income.
“Under the tie-up, the bank shall become a preferred partner of the (UAE) company as a service provider in the area of inward money transfer in India,” a bank statement said.