Posted: Wednesday, 26 December 2012

Tags: - Banking

Country: United Arab Emirates

Industry Sector: Banking

Description:

Doha Bank enters into an agreement with Bank of the Philippines for remittance of funds to Philippines.

Comments:

Doha Bank, one of the leading private commercial banks in Qatar, has entered into an agreement with Bank of the Philippine Islands (BPI), the third largest private sector bank in Philippines, for remittance of funds to Philippines. The agreement was signed recently by Dr R Seetharaman, Group CEO, Doha Bank and Mr Raul D Dimayuga, Senior Vice President, BPI Philippines.


BPI is the third largest private bank in Philippines. With more than 750 branches in the network, BPI has the ability to transfer funds quickly and serve the customers efficiently.

Doha Bank’s customers will be able to transfer money online from Doha Bank account to their account with any branch of BPI in Philippines. The customer can remit funds to beneficiaries having accounts with any other bank in Philippines. BPI has arrangements for door-to-door delivery of remittances. The beneficiaries can also collect cash from any branch of BPI.

Commenting on the agreement, Dr Seetharaman said: “The tie-up with BPI will provide an opportunity to extend our services to the Filipino community in Qatar, UAE and Kuwait, by meeting their banking and remittance requirements. We are committed to serving our customers in every possible manner and provide them a seamless banking experience.”

Speaking on the tie-up, Mr Dimayuga said: “This association with Doha Bank is a commitment of BPI towards providing cost effective services to Filipino nationals who live in Qatar, UAE and Kuwait. The arrangement will enable us to provide our customers convenient and secure services by expanding our remittance network from the GCC countries to Philippines.”

Mr Suresh Bajpai, Head of Retail Banking, Doha Bank, highlighted that this arrangement is very convenient and cost effective for Filipino nationals to remit their funds to home country. It offers online transfer of money in Filipino Pesos from Qatar, UAE and Kuwait to Philippines. He added that Doha Bank also offers remittances services to Middle East countries like Egypt, Jordan, Turkey, Yemen and also other Asian countries like Bangladesh, India, Indonesia, Nepal, Pakistan, and Sri Lanka.