SBT, Global Money Exchange tie up
Our Banking Bureau
04 April 2002
The bank already manages City Exchange LLC, an exchange company in the United Arab Emirates. Under the rupee-drawing arrangement with Global Money, expatriates in the sultanate can send remittances to SBTs 300 major branches, which can be encashed immediately without incurring any charges.
The bank also intends to introduce fast-remittance arrangements shortly. SBT at present has remittance arrangements with 13 exchange companies in West Asia. The annual volume of remittances channelised through these exceeds Rs 3,300 crore.