FINANCIAL NEWS

Etisalat seeks approvals for expansion in remittance services

19 Mar 2012

(MENAFN) Director of Products at UAE- based Etisalat, George Held, said that the operator approached regulators in order to gain approval for providing more financial services in the GCC, reported Reuters.

Held said that financial remittances provide a huge opportunity for the operator.

Held added that operators have less costs than banks when it comes to remittances as operators do not need physical branches to function.

It is worth mentioning that Etisalat saw USD1.8 billion moved over its network in 2011.

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