Financial News
'UAE Exchange' turns to IT, real estate
PTI[ WEDNESDAY, AUGUST 30, 2006 10:50:30 PM]

KOZHIKODE: Having established itself as one of the leading money transfer agents in the country, "UAE Exchange" will now focus on other areas like IT, real estate and rail booking, a top company official said on Wednesday.

"While we will start doing business in IT and real estate after sometime, rail booking will be arranged in next 10 days through all our branches", Exchange's country head George Antony told reporters here.

With 206 offices in the country, of which 62 were in Kerala, the company proposes to further widen its money transfer activities in the coming days, he said adding at present UAE Exchange transfers Rs 600 crores every month across the country.

The company was also engaged in transferring about Rs 200 crores every month through its "Express Money Scheme," that disbursed money on a 'cash to cash payment' basis, he said.

It was awaiting RBI's nod for authorised dealership to launch outward money transaction also, Antony added.
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