Royal Exchange (USA), a Muthoot Finance company ties up with Al Fardan Exchange (UAE) for instant money transfer to India

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Kochi, March 05, 2016: Royal Exchange (USA) Inc, a Muthoot Finance company signed an agreement with Al Fardan Exchange, a leading UAE based foreign exchange service provider for instant money transfer from UAE to India.

With this facility, expats in UAE will now be able to transfer money to India, using the much advanced remittance channel ‘Afex Remit’ through 60 branches of Al Fardan exchange across UAE. The money thus remitted can be collected instantly from any of the 4500 branches of Muthoot Finance and also through 5000 plus branch network of the agents and sub agents of Royal exchange spread all across India.

Commenting on the strategic tie-up, the Director of Royal Exchange and Chief General Manager, Muthoot Finance, Mr. KR Bijimon said, “UAE is emerging as a strong market in the remittance industry. Our partnership with Al Fardan Exchange will enable expats in UAE to transfer money to their family in India in a more convenient, instant and secured manner.”

He added, “Al Fardan Exchange is expecting to increase substantial amount of business with this tie-up to garner more market share in the remittance business of Indian Corridor in particular.”

Al Fardan Exchange CEO Mr. Osama Al Rahma said, “We are very pleased to partner with Royal Exchange to offer convenience and value to our customers remitting to India through 10,000 pay-out agents.”

Corporate Comm India (CCI Newswire)

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