Emirates Islamic launches 'QuickRemit' money transfers to India

October 03, 2017

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced the launch of QuickRemit, an online funds transfer service that enables customers to remit money to India in 60 seconds.

QuickRemit transfers to an HDFC Bank account in India will be processed in a minute with zero transaction fees and at competitive exchange rates. Customers can also remit funds to any other Indian bank account with their remittance being processed within an hour, without any fee as well. Customers can avail of the QuickRemit service via the Bank’s online and mobile banking channels. For a limited period, Emirates Islamic will be offering 2 gold coins every 2 weeks as a lucky draw for customers who transfer money to India using QuickRemit.

Commenting on the launch of QuickRemit to India, Wasim Saifi, Deputy CEO - Consumer Banking and Wealth Management, Emirates Islamic said: “Our Non-Resident Indian (NRI) customers expect the safest, most convenient and fastest remittance solutions from us. With QuickRemit, they can now send money to their family and loved ones quickly, safely and efficiently, be it for a special occasion, a family emergency, or to capture an investment opportunity. We are working in parallel to extend QuickRemit services to other countries and provide this facility to customers from other nationalities.”

According to the World Bank, Indian expatriates sent home $62.7 billion in 2016 from abroad, the highest globally. With foreign workers from Asian countries constituting a majority of the expatriate population in the UAE, overall remittances from the UAE are one of the highest in the world, estimated to reach AED 70 billion annually.