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UAE bank launches special rates for remittances campaign

Published: 05/11/2013 05:26:41 PM GMT
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The offer, which is valid till November 20, 2013, offers special rates with no fees on remittances in five GCC currencies - Saudi Riyal, Omani Riy (more)

The offer, which is valid till November 20, 2013, offers special rates with no fees on remittances in five GCC currencies - Saudi Riyal, Omani Riyal, Bahraini Dinar, Kuwaiti Dinar and Qatari Riyal.

The campaign is expected to generate considerable interest from residents intending to transfer funds back home, thus taking advantage of the special exchange rates and 0% transaction fees offered by Emirates Islamic Bank .

"Foreign currency remittances are a key aspect of life in the UAE, as a result of the vast expatriate community that works in the UAE and makes regular transfers to their home countries," said Faisal Aqil, Deputy CEO, Emirates Islamic Bank .

"We are pleased to launch this 0% transaction fee campaign with discounted rates in our branches at this time when we expect considerable transfers within the GCC states."

The campaign on GCC currencies transfers is part of Emirates Islamic Bank 's wider strategy to diversify and expand its product range and offer customers remittance and currency exchange products in addition to standard retail banking services.

© Emirates 24|7 2013

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