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Bank Albilad partners with Western Union to launch money transfer service
- Saudi Arabia: Tuesday, November 27 - 2012 at 05:20
Saudi lender Bank Albilad has signed an agreement with Western Union to launch Western Union's Account-Based Money Transfer (ABMT) service for the first time in the kingdom, Saudi Gazette has reported. The service offering will enable all Bank Albilad account holders to send money domestically and internationally, through all banking channels. In 2010, remittances from Saudi Arabia amounted to SR98.2bn ($26.2bn) and the World Bank has ranked the kingdom as the world's second largest remittance-sending countries behind the US.
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