MoneyGram International has entered into an agreement with United Bank in Egypt thus adding the bank's 43 locations across the nation. United Bank, which is majority owned by the Central Bank of Egypt, will introduce MoneyGram services into many new cities.
Richard Meredith, regional director for the Middle East, Pakistan and Afghanistan at MoneyGram, said: “Our goal is to provide an easy and safe way to transfer money within and across borders. To that point, we recently expanded our service offerings in Saudi Arabia, making it convenient for workers there to send money from any of the 1,400 ATMs around the country, which is a key factor in transactions to Egypt.”
Mohamed Ashmawy, chairman for United Bank of Egypt, said: “We are pleased to add MoneyGram’s services to our branch locations, and especially to provide convenient services in Sharkeya, Sohag, El Nobaria, Damettena City and Mansoura. Also, we’ll soon open a branch in Al Mahala and Bani Sweif to support the remittance demands there.”