Remitly Expands into the Middle East with United Arab Emirates Launch, Dubai Office
February 23 2023 - 9:00AM
Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a leading digital
financial services provider for immigrants and their families,
today announced it has expanded into the Middle East with the
launch of its outbound remittance product in the UAE. Remitly has
also opened an office in the Dubai International Financial Center
(DIFC), its first in the country. The company’s new presence in the
UAE marks its 30th send country, contributing to its more than
4,300 corridors overall.
The remittance sector in the UAE is strong, with immigrants
comprising nearly 90 percent of the country’s population. With the
vast majority of remittance transactions completed through cash
pay-in at brick-and-mortar stalls, Remitly’s expansion into the UAE
brings a welcomed solution for the millions of immigrants there
dealing with long wait times, operating hour constraints, and risks
associated with cash (both financial crime risk and physical
security risk).
“With one of the world’s largest populations of immigrants and
the second-highest global volume of remittance originations, the
UAE was a natural choice for us as a market for expansion,” said
Mohamed Mansour, Head of Region, UAE at Remitly. “Moreover, the
country’s advanced digitization and push towards a cashless economy
makes Remitly’s platform particularly relevant and well suited to
the population here. I’m thrilled that this expansion will bring
reliable international payments support for immigrants and their
loved ones back home.”
Remitly is already a trusted partner throughout significant
recipient regions from the UAE, including locations such as India,
Pakistan, the Philippines, and Bangladesh. Its strong foothold and
partnerships in these areas, coupled with its customer-centric
commitment to a reliable, fast, transparent, and convenient
remittance experience, sets the company up for long-term growth in
the region.
Remitly is available for download from the Apple App Store and
Google Play. To learn more or get started with Remitly, visit
www.remitly.com.
About RemitlyRemitly is a leading digital
financial services provider for immigrants and their families in
over 170 countries around the world. Remitly helps immigrants send
money home in a safe, reliable and transparent manner. Its
digitally-native, cross-border remittance app eliminates the long
wait times, complexities and fees typical of traditional remittance
processes. Building on its strong foundation, Remitly is expanding
its suite of products to further its mission and transform
financial services for immigrants all around the world.
Contact:Kendall Sadlerkendall@remitly.com
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