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Muslim Commercial Bank ties up with Al Fardan Exchange

03-01-2011 11:53 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Al Fardan Exchange

Al Fardan Exchange

Al Fardan Exchange

Dubai, March 1, 2011: MCB Representative Office Dubai, part of Wholesale Banking Group has initiated a new remittance service to Pakistan from United Arab Emirates and signed an agreement with UAE based Al Fardan Exchange, a leading exchange house in the region since more than 38 years.

This service further strengthens legal means of remittances to Pakistan. Al Fardan Exchange’s money transfer services across its 40-branch network in UAE would be available for MCB's remittance services. The new relationship, set up with support of Bank's Transaction Banking Division will help Pakistani expatriates remit money from Al Fardan Exchange free of cost.

It will undertake diverse services including issuance of Telegraphic Transfers from UAE and MCB will deliver payments in accounts, as well as instant cash, in Pakistan. MCB President M.U.A. Usmani said in today's environment, customers require rapid, efficient money transfer services. Association with Al Fardan Exchange, will facilitate meeting such requirements. "This Agreement is part of our strategy to offer broad span of latest financial services to our customers. We have full confidence in Al Fardan’s experience, technical services quality. It will further strengthen MCB as it moves forward to affirm its leading position in Pakistan's banking sector."

Osama Al Rahma, General Manager, Al Fardan Exchange, said that with one of best and largest branch networks in Pakistan, MCB would help the company in expanding their services across the country. "We are proud to be associated with Pakistan's leading bank and look forward to offer our services to MCB's customers." The tie up is a part of our strategy to extend our services to the Pakistan Market and offer excellent services to our esteemed customers.

Al Fardan Exchange is one of the oldest and leading names in the UAE remittance market and a pioneer in the industry of UAE money exchange business.

Privileged to be a part of the reputable Al Fardan Group, Al Fardan Exchange is into the remittance market since more than 38 years. Al Fardan Group is also managing many other businesses like Real Estate, High Class Jewellery, Financial Services and Trading under its one umbrella presided by Mr. Hassan Al Fardan, Chairman, Al Fardan Group.

Zameer A. Punjabi
Senior Manager
Marketing and Business Development
Al Fardan Exchange
PO Box 2095
Bur Dubai, UAE
Tel : 00971-6-5343003

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