Oman UAE Exchange shifting some branches

Business Wednesday 18/May/2016 12:41 PM
By: Times News Service
Oman UAE Exchange shifting some branches

Muscat: Oman UAE Exchange is set to open new branches across the Sultanate and is also in the process of relocating some of them, according to company CEO Boban MP.
Under the expansion plans, two branches are likely to open this year taking the total branch network in the Sultanate to 54.
Regarding relocation of branches he said, “We have always endeavoured to be one step closer to our customers.
“The relocation of our branches to project sites is mainly for the convenience of those customers who find it difficult to remit from remote areas.”
“Evolution of technology has also resulted in the evolution of customers’ needs and to cater to these evolving needs, we would be introducing new services and products. Going forward, we also plan to engage with our customers more on the digital space through online money transfer as well as introduce the KIOSK model operation in the Sultanate, all subject to regulatory approvals,” he further stated.
Recently, the company entered into an agreement with State Bank of Travancore, State Bank of India and Federal Bank for FLASH remit, a real time account
credit facility.
This facility will enable Indian expatriates residing in the Sultanate to transfer money directly to their beneficiary having account in the respective banks across borders in India in real time (24x7). The company also plans to commence the FLASH remit facility to Bangladesh and Pakistan.