Careem Pay Expands Remittance Service to Jordan
Home » Emerging technologies » Fintech » Careem Pay Expands Remittance Service to Jordan
Careem Pay, the digital payments platform within the Careem app, has announced the expansion of its remittance service to Jordan. This new feature allows UAE residents to send money directly to bank accounts in Jordan.
According to Careem, transfers are completed within 24 hours on average. The service supports direct bank transfers in Jordanian Dinars to any valid IBAN.
This move comes as part of Careem Pay's wider effort to serve some of the world's largest remittance corridors, including India, Pakistan, the UK, Europe, the Philippines, Lebanon, and Egypt.
Careem Pay reported that the UAE is home to a large Jordanian expat community. Annual remittances from the UAE to Jordan have exceeded USD 1 billion in recent years.
Mohammad El Saadi, VP of Careem Pay, revealed, 'Sending money home is one of the most meaningful things our customers do with Careem Pay. For many Jordanian expats, it's about supporting loved ones, covering school fees, or helping parents with everyday expenses. We wanted to make that process simpler, faster, and more affordable.'
The launch was timed ahead of Arafah Day and Eid Al Adha. Historically, international money transfers increase during these periods as customers support their families abroad.
To mark the launch, Careem Pay introduced limited-time offers: First-time remittance users get zero fees on their first two transfers to Jordan.
Repeat customers can send up to AED 25,000 per transaction, with a fixed AED 10 fee.
Careem Plus members enjoy added benefits. These include zero fees on transfers above AED 1,500 and lower fees on smaller amounts. They also receive exclusive perks across Careem services, such as discounted rides and free delivery on food and groceries.
To send money to Jordan or other supported countries, users can download the latest version of the Careem app and select 'Send Money' from the home screen.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sharjah 24
5 hours ago
- Sharjah 24
SSSD's "Intaj" Centre organises Eid Al Adha exhibition
The exhibition is held from May 29 to June 1 at Al Rahmaniya Centre, featuring participation from productive families in Sharjah and other branches across the Emirate. Diverse Product Packages on Display Families will showcase a variety of themed collections, including a package for traditional crafts, a package for clothing and accessories, and a package for handmade items. All products have been specially curated to suit the festive atmosphere of Eid. High Public Demand and Strong Community Support Maryam Al Hammadi, Director of the Centre, stated that productive families eagerly anticipate the arrival of Eid Al Fitr and Eid Al Adha in preparation for participating in the exhibition, which continues to draw high public turnout—especially in residential areas near shopping centres. The exhibition has grown to build a loyal fan base among those who appreciate elegance and craftsmanship, thanks to the Department's ongoing commitment to its members in the "Intaj" Centre and its desire to bring them joy by providing an additional income stream to improve their financial well-being. This support has been reflected in external showcases, the launch of an online store, and assistance in obtaining trade licenses from the Sharjah Economic Development Department at affordable rates. Homemade Goods with Natural Ingredients The showcased products are known for being authentically homemade, featuring natural ingredients. The range also includes clothing, accessories, and handmade crafts that align with the needs and traditions of Eid Al Adha. Attractive Promotional Offers Notably, shoppers can take advantage of exciting promotional offers: any customer who spends AED 300 will receive a shopping voucher courtesy of the Sharjah Cooperative Society.
Arabian Post
9 hours ago
- Arabian Post
GulfNav's $871M Deal Signals Strategic Shift in Energy Logistics
Dubai-listed Gulf Navigation Holding PJSC has secured shareholder approval for a AED 3.2 billion acquisition of Brooge Energy Ltd.'s assets, marking a significant expansion into the midstream oil and gas sector. The transaction, involving cash, newly issued shares, and mandatory convertible bonds , is expected to close in the second quarter of 2025, pending regulatory approvals. The acquisition encompasses Brooge Petroleum and Gas Investment Company FZE, Brooge Petroleum and Gas Investment Company Phase III FZE, and BPGIC Phase 3 Limited. These entities operate advanced storage facilities in Fujairah, a strategic oil storage and export hub. GulfNav plans to integrate these assets to enhance its storage and logistics capabilities, aligning with its long-term vision to become a dominant player in the energy sector. The deal's financial structure includes the issuance of 358,841,476 new shares to Brooge Energy at AED 1.25 per share, with a one-year lock-up period. Additionally, MCBs worth AED 2.336 billion will be issued to Brooge, convertible at the same price and subject to a similar lock-up period post-conversion. An extra AED 500 million in MCBs, priced at AED 1.10 per share, will be allocated to existing GulfNav shareholders, with major shareholders covering any unsubscribed bonds. A cash payment of AED 460 million completes the settlement. ADVERTISEMENT CEO Ahmad Kilani stated that the acquisition is expected to generate significant operational synergies, including cost savings from integrated logistics and increased storage capacity. Financially, the deal is projected to enhance GulfNav's revenue streams and improve EBITDA margins over the next few years. The issuance of new shares and MCBs will increase GulfNav's share capital by approximately 320%. Brooge Energy, founded in 2013 and based in the Cayman Islands, operates through subsidiaries focused on clean petroleum products, biofuels, and crude oil storage. Its facilities in Fujairah are among the most technologically advanced in the sector, adhering to international standards. The company's strategic location outside the Strait of Hormuz positions it advantageously in global oil logistics. The acquisition aligns with GulfNav's commitment to sustainable growth and operational excellence. Post-acquisition, the company plans to expand its storage and logistics capabilities to meet the growing demand for midstream oil and gas services in the region. By leveraging Brooge's advanced infrastructure, GulfNav aims to improve operational efficiencies, diversify its service offerings, and unlock new revenue opportunities. Additionally, the company will continue to support the UAE's sustainability goals by exploring innovative solutions, such as alternative fuel storage and reduced carbon emissions. The transaction is subject to customary closing conditions and regulatory approvals. GulfNav's Board of Directors has been authorized to take all necessary actions to finalize the acquisition, including completing regulatory approvals, amending the Articles of Association, and overseeing capital increase procedures.
Web Release
14 hours ago
- Web Release
UAE Transfer Pricing Rules Bring Director Salaries Under New Scrutiny Says ADJC
As businesses across the UAE adjust to the Corporate Tax (CT) regime, ADJC is urging companies to revisit how they remunerate directors, particularly those who may be classified as related parties. Under the new rules, director salaries fall within the scope of Transfer Pricing (TP) scrutiny—an area many businesses are now navigating for the first time. 'The UAE's transfer pricing framework is fully aligned with OECD standards, and that means companies must apply the arm's length principle to all related-party transactions—including director compensation,' said Iftikhar Kazi, Business Manager at ADJC. 'If a director qualifies as a related party, then their salary, bonuses, and benefits must be benchmarked to reflect what an independent party would accept under similar market conditions.' Under UAE CT Law (Federal Decree-Law No. 47 of 2022), related parties include individuals who own or control 50% or more of a business, directors with significant decision-making authority who are also shareholders, and in some cases, even family members. If a director falls into this category, then any payments made to them must meet arm's length criteria—typically substantiated through a benchmarking analysis or Local File documentation. 'Benchmarking director salaries is not just a compliance formality—it's a necessity,' Kazi added. 'Companies should rely on market data from sources such as Mercer, Willis Towers Watson, or regional salary surveys to ensure compensation falls within a defensible range. The Federal Tax Authority (FTA) may challenge excessive payments, especially if they fall outside the interquartile range commonly accepted in transfer pricing reports.' According to Ministerial Decision No. 97 of 2023, companies with revenue above AED 50 million—or part of a multinational group with global turnover exceeding AED 3.15 billion—must maintain contemporaneous transfer pricing documentation, including any material director compensation paid to related parties. ADJC advises UAE businesses to proactively assess their internal remuneration policies, ensure benchmarking is up to date, and prepare robust documentation to withstand potential audits. ADJC is a leading advisory firm in the UAE specializing in corporate tax, transfer pricing, and compliance advisory. With a dedicated team of experts and a deep understanding of regional regulations, ADJC supports businesses in achieving tax efficiency and regulatory
