The United Bank renewed its cooperation Wednesday with MoneyGram International by signing a common cooperation agreement.
The agreement aims to increase the volume of Egyptians expatriates’ remittances, expand the local money transfer network to cover the entire country, and apply international quality standards to the process of money transference.
The renewed framework allows the bank’s customers to transfer money from an international location to Egypt through the bank’s branches and ATMs network.
Renewing cooperation with MoneyGram asserts the company’s confidence in the level of services provided to customers in its branches, said Farag Abdul Hamid, the acting chairman of the bank’s board and its managing director.
The agreement with MoneyGram, a prominent entity in the field of money transfer, will significantly contribute to the provision of better services to Egyptians working abroad and customers of the United Bank, according to Vice Chairman and Managing Director Amr Maher.
There is a significant increase in the demand for expedient and secure money transfer services in Egypt. Egypt has the seventh highest volume of international remittances, according to World Bank estimates.