IOC inks a deal with UAE exchange and financial services

Mumbai, Oct 10 (UNI) Indian Oil Corporation, a USD 50 billion company, inked a deal with UAE Exchange and Financial Service to offer MoneyGram International money transfer service.

Money sent through MoneyGram can be received across over 200 branch locations of UAE Exchange and the designated sub-agent locations including Indian Bank, Dhanalakshmi Bank, Development Credit Bank and Shriram City Union Finance among many others.

To receive money via MoneyGram in India, the receiver can walk into any MoneyGram agent location, complete a simple receive form and provide photo identification to receive funds.

MoneyGram now has 9,900 agent locations in the Indian sub-continent. Its money transfer service is approved by the Reserve Bank of India (RBI) and has been available in India for more than eight years.

MoneyGram has recently invested more resources in the Indian market and has introduced special pricing on transactions received in the country.

UNI