Allahabad Bank, UAE firm tie up for remittance facility

Tuesday, 31 March 2009, 02:32 Hrs
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Kolkata: 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.
Source: IANS
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