The Hindu Business Line : SIB's online transfer licences

Kerala-headquartered South Indian Bank (SIB) has strengthened its relationship with UAE-based money exchange house Hadi Express Exchange. The bank, which holds two licences at Bur Dubai and Sharjah for online transfer of funds in agreement with Hadi Express, has been awarded three licences - at Abu Dhabi, Dubai and Risalkima. The Chairman and CEO of SIB, Dr V.A. Joseph, said, "The agreement with the UAE money exchange house underscores our commitment to enhance our global reach through strategic partnership with key players." With these licences, the ambit of the bank's online fund transfer facility - SIB Express - is expected to grow and enable non-resident Indians living in those pockets speed up their homeward remittances at competitive rates. - Our Bureau

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