Latest news with #crossborder
Bloomberg
31 minutes ago
- Business
- Bloomberg
StanChart CEO on Earnings, Volatility, Digital Assets
00:00 You got better than expected results here. It looks like you've benefited from the volatility around Trumponomics. A lot of banks have. Do you think that you can continue this performance in the second half of the year then? Yeah, I'm really happy with the results in the first half of this year, in the second quarter, including since since April 2nd, it's really been building on five, six, seven years of continuous investment in a few things. We're a cross-border bank. Every part of our cross-border business is booming. We are a bank to the affluent across Asia, Middle East and Africa. That business is booming. So all the leading indicators, new clients, new money clients, putting that money to work is exactly what we had hoped for and have seen for some years. So now it's sort of all coming together. Add to that the market tumult, as you said then since April has been up and down quite a bit, including copper today. Is there a point where too much volatility becomes too bad for your business? Of course. And I think we wonder all the time what's when is the fatigue going to set in? It hasn't happened yet because things have been, I would say, a steadily improving trend, both in terms of economic outlook. Obviously, there's debates with debates within the Fed, as we saw yesterday. But the the uncertainty certainly leads to a little bit of delay in terms of decision making. So we look at some of our clients, whether they're Western or developed economy companies or companies operating throughout the emerging markets. They're just holding off on their investments to see where's it going to come out. But, you know, the fact is, the turf, that noise, at least for the time being, is settling out. A lot of detail yet to be worked through. But but nevertheless, I think confidence is building, investments are coming is reflected through to our business. Well, if we break down that uncertainty, what worries you more? US tariffs or falling rates? I mean, if falling rates, all else equal, is a challenging thing for a bank in the short term. But we also know that that stimulates investments. And, you know, fundamentally our bank is about investing and trade, that that's whether it's at the individual level or the corporate level. So falling interest rates would certainly support the investment decisions that our clients are making and it would impact our NII. Net interest income on the margin. So I won't say we're indifferent because in the short term, certainly that period of zero interest rates is very difficult for us as it was for for every bank. But that's not what we're going a little bit of talking and telling. I think we're actually in the sweet spot right now. And when you look at the share price, I'm not going to use the C word that you want to use to describe it, but you're up more than 30% this year is past the level when you took the job. And then are you happy with this now? Yeah, I'm happy with the progress. I'm happy with the progress for sure. I also look at our bank and say, this is a bank that is growing its operating earnings in reasonably substantial double digits. We've been growing at 20 or 25% for some time now in terms of our underlying earnings. And I think that can go for some time based on the investments that we've been making for years that should come through to our stock price over time. So I don't get too obsessively focused on the stock price day to day, but of course, I'm happier at at 1370 or wherever we are rather than six when I used a bad word to describe the share price. But how much higher do you think it can go? I think by most relative measures were relatively cheap compared to other Asian banks, for example, or other even European banks in some cases. So I think we can go we we want to be fair, but I never again I'm never going to predict the stock price. Look, what I focus on is growing our income, our customer satisfaction, managing expenses, keeping risk under control, and returning excess capital to shareholders. That's what we focus on. The stock market is going to take care of the rest. I want to talk about how Standard Chartered differs to some of your big competitors. Right. We had HSBC earnings yesterday. You're starting to plot a kind of different course to some of them. I think, about the return to office, for example, HSBC ordering MDs back. Are you saying your option to hybrid workers? You know, a really valuable way to attract talent over your competitors? It absolutely is. But but here's the secret. I Ramdas want to come to the office. They come to the office because they they collaborate, they manage their people. They lead teams. But if they need the flexibility, they can get it from us. Now you've got to have an agreement with your manager or you don't. You don't get to set your own schedule. So there's a discussion. But then I think we find we work with adults and the adults can have an adult conversation with other adults and decide how they're going to best manage their team, how they're going to collaborate. It's working for us, how other companies make that work. You know, everybody's got their own recipe. Are you working hybrid, Bill? Yeah, yeah, yeah. Here I am. You know, I'm it's it's 630 in the morning. I'm sitting in your studio. I'm not. I'm not in the office slaving away behind my laptop. You know, I work from home from time to time. If I come in from a from an overnight flight someplace or if I have a meeting in the West End. I live in West London. Yeah, yeah, sure. You know, you've got to live on the top. I also, you know, my agreement with my boss is that I come to the office four days a week. I think I probably average a little bit higher than that. But we all have a master. Look, you're also different from your competitors in terms of the fact that you're super bullish when it comes to crypto. $200,000 is your target. Do you think that that's an area where. As an advantage in particular for Standard Chartered. So I and we are super bullish as a bank on digital assets and we're super bullish on blockchain settlements, whether it's in payments or securities or anything else in crypto, the $200, 200,000 Bitcoin forecast, that's our research now. He's been pretty, pretty, pretty close to right now consistently so I definitely don't don't country Jeff but from our perspective we see a structural movement towards blockchain based settlements of which it starts most substantially today with with cryptocurrencies. But when, when that cryptocurrency technology puts into traditional finance, which is what's happening now with Stablecoins and the like, we are there with the infrastructure that's ready to receive and we're going to take market share from people who haven't been making those investments in our fees for seven years. Well, yeah. Is the plan basically to become the biggest mainstream trader in crypto assets, digital assets, Digital assets, Right. So, so cryptocurrencies has one part today. It's big and it's growing, but stablecoins tokenized bank deposits, eventually central bank digital currencies as they as they arrive, if they arrive, all of those things will be mediums of exchange for what today is traditional finance, which tomorrow will be a new mechanism for payments and settlement. And we are building that infrastructure. We have it through various ventures that we've set up. We're the most substantial institutional grade dealer in digital assets, and our institutional customers really value that at some point are our retail customers will really value that as well. There's a similarity to HSBC as well. You're both in cost cutting drives. You also is of course called Fit for Growth. This efficiency planet is set to peak this year. How important is that to you right now and how difficult is it proving so? Growth for us really is a transformation program. And yes, it's out of the back end of transformation. We'll save .5 billion of operating expenses, which is material for us. And we're investing significantly to simplify everything that we do, mostly through technology, digitized, etc.. So that's that transformation is very important. The cost cutting element is kind of what we've been doing for my entire ten years in the bank, you know, three or four or $500 million dollars per year of efficiency, which we then invest back into the business. So our overall expenses, I'd see it continue to grow up. The key for us is that they grow up, they go up a lot slower than our income. And that's that's what we've been doing. And finally, Bill, you've just marked a decade as CEO of Standard Chartered, yet a lovely interview with our colleague Francine Lacqua about this. I know that you're a thoughtful man. You told her that you'd have to be thrown out of Standard Chartered. Is there a particular milestone that you want to reach before you go? No, not particularly. I'm pretty sure that whatever I leave behind, the next guy or woman is going to be able to grow really nicely from there. But I would like to to do everything I could. I can between now and then, whenever that then is to set the place up for continuous growth. Then we've got we've got a clear set of financial plans that go through the end of next year, very keen to deliver that. We're very much on track. We've got a new chairman, Maria Ramos, who's who's been fabulous is her call on how we manage this succession thing.
BBC News
9 hours ago
- Politics
- BBC News
Government denies reallocating £1m of NI peace funding
The UK government has denied reallocating £1m of funding from a cross-border peace project to a new scheme aimed at strengthening connections between Northern Ireland and Great for the International Fund for Ireland (IFI) was withdrawn, with the government saying there was a "challenging fiscal position".It emerged after the government in June announced funding of up to £1m to help groups build connections between NI and government said the two initiatives were "entirely separate" and it "remains supportive of the IFI's aims of promoting peace and reconciliation". The IFI was set up by the UK and Irish governments in 1986 and supports work in Northern Ireland and border counties in the Republic of UK government was due to contribute £4m between 2021 and 2025 in four a spokesman said it "decided not to continue" with a planned £1m contribution in 2024-25."This government inherited a very challenging fiscal position, and needed to take difficult but necessary decisions to place the public finances on a sustainable footing," he said. In June, the government launched a funding scheme worth up to £1m aimed at "strengthening east-west connections".The Connect Fund was announced after a meeting of the East-West council was set up in a deal between the previous Conservative government and the Democratic Unionist Party (DUP) that saw it return to Stormont after a two-year boycott over post-Brexit trade O'Toole, leader of the opposition in the Northern Ireland Assembly, said the funding decisions were "deeply concerning".The Social Democratic and Labour Party assembly member claimed the "north-south and cross-community" aspects of such funding were being "abandoned".He described the Connect Fund as being "borne out of a clandestine, bilateral deal cooked up between the last Tory government and the DUP". The government rejected the concerns and said the decision to introduce the new funding scheme was in response to sectoral needs."The UK government did not reallocate money from the IFI to the East-West Council," a spokesperson said."These are two entirely separate entities."The government remains supportive of the IFI's aims of promoting peace and reconciliation."A DUP spokesperson said the party welcomed "recent funding announcements".The Irish government said it contributed €4m (£3.45m) to the IFI in 2025.A spokesperson for its Department of Foreign Affairs said: "We are aware that the UK government indicated they were not in a position to make the final £1m instalment of funding in 2024."We look forward to continuing to work with the UK in support of the IFI and hope that the UK will consider further funding to the IFI when its new strategy for 2026-2030 is launched at the end of this year."In a statement, the IFI said it had received financial support from a range of donors including the UK, Irish and US governments, the European Union, Canada, Australia and New Zealand.A spokesperson for the IFI said it was "grateful for the long-standing support from the UK government and the financial assistance provided in supporting our delivery of the IFI's current strategy"."We look forward to continuing to work with the UK government and our partners in delivering critical peace and reconciliation initiatives in Northern Ireland and the southern border counties," the spokesperson added.
Associated Press
11 hours ago
- Business
- Associated Press
Euronet and CoreCard Announce Merger Agreement to Unlock Global Opportunities in Credit Card Issuing and Processing
LEAWOOD, Kan. and NORCROSS, Ga., July 30, 2025 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT), a global leader in payments processing and cross-border transactions, and CoreCard Corporation (NYSE: CCRD), a leading provider of innovative credit technology solutions and processing services to the financial technology and services market, today announced they have entered into a definitive agreement for Euronet to acquire CoreCard in a stock-for-stock merger transaction that values CoreCard at approximately $248 million, or $30 per share of CoreCard common stock. The exchange ratio and other terms of the transaction are described below. The proposed transaction marks a pivotal step in accelerating Euronet's strategic goal of a more diversified, future-ready revenue mix, that is anchored in scalable, modern platforms designed for the next generation of digital financial services across the globe. Acquisition to Add a Proven Credit Card Platform and Marquee Clients to Fuel Euronet's Growth Strategy CoreCard's platform is proven and trusted by some of the most respected names in finance and technology, and has been instrumental in launching one of the most successful co-branded credit card offerings in U.S. history in partnership with Goldman Sachs. This credibility, combined with CoreCard's deep expertise in credit products, positions Euronet to compete in a sizeable market traditionally dominated by a few legacy providers. The CoreCard modern architecture enables faster deployment, easier integrations, and the flexibility to support rapid innovation, which are key advantages in today's world of payments, where banks and fintechs are looking to embed financial experiences in their customer journeys. This has enabled CoreCard to support diverse, bespoke use cases for fintech innovators such as Cardless, who has recently been chosen as the partner for the Coinbase credit card. 'More than a product expansion, this acquisition will be a catalyst for long-term growth, and we expect it to be accretive in the first full year post close,' said Michael J. Brown, Euronet's Chairman and Chief Executive Officer. 'By integrating CoreCard's platform with our own Ren architecture and global distribution network, we will be positioned to become a leading modern card issuer and innovation partner for the next generation of digital finance. This acquisition is a natural extension of our strategy to invest in scalable, high-margin businesses that align with long-term market trends. We also value and respect the work of CoreCard's employees, who we are eager to welcome to Euronet, and we look forward to their contributions to our company in the future.' 'Joining Euronet marks an exciting new chapter for CoreCard,' said Leland Strange, CEO of CoreCard. 'Our team has built a modern, resilient credit card processing platform that serves some of the largest companies and financial institutions in the world. We're excited to bring our capabilities to a global stage. We have spent a lot of time and diligence over the last year exploring the right 'fit' for what our team has built over many years, and we believe this is a great outcome for the team and our shareholders. We are joining with a company that has also been built on a strong foundation over many years that has kept a strong team and customer-focused culture with a focus on innovation.' Time and Approvals The transaction has been approved by the boards of directors of both Euronet and CoreCard, and is expected to close in late 2025, subject to approval by CoreCard shareholders and the satisfaction of certain other customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Transaction Details Under the terms of the merger agreement, each share of CoreCard common stock will be exchanged for a number of shares of Euronet common stock equal to an exchange ratio between 0.2783 and 0.3142, calculated as $30 divided by the volume weighted average share price of Euronet common stock over the 15-trading day period ending on and including the second to last trading day prior to the closing date (the 'Final Euronet Stock Price'), subject to a floor of $95.48 per share and a ceiling of $107.80 per share. CoreCard shareholders will receive 0.3142 Euronet shares for each of their CoreCard shares if the Final Euronet Stock Price is at or below $95.48, and 0.2783 Euronet shares for each of their CoreCard shares if the Final Euronet Stock Price is at or above $107.80. Advisors Stinson LLP is acting as outside counsel to Euronet. Kilpatrick Townsend & Stockton LLP is acting as outside counsel to CoreCard. Keefe, Bruyette & Woods, a Stifel Company, provided certain financial advice to the board of directors of CoreCard. About CoreCard CoreCard Corporation (NYSE: CCRD) provides a modern card issuing platform built for the future of global transactions in an embedded digital world. Dedicated to continual technological innovation in the ever-evolving payments industry backed by decades of deep expertise in credit card offerings, CoreCard helps customers conceptualize, implement, and manage all aspects of their issuing card programs. Keenly focused on steady, sustainable growth, CoreCard has earned the trust of some of the largest companies and financial institutions in the world, providing truly real-time transactions via their proven, reliable platform operating on private on-premise and leading cloud technology infrastructure. About Euronet A global leader in payments processing and cross-border transactions, Euronet moves money in all the ways consumers and businesses depend upon. This includes money transfers, credit/debit processing, ATMs, point-of-sale services, branded payments, currency exchange and more. With products and services in more than 200 countries and territories provided through its own brand and branded business segments, Euronet and its financial technologies and networks make participation in the global economy easier, faster and more secure for everyone. Visit the company's website at Cautionary Statement Regarding Forward-Looking Statements This communication contains 'forward-looking statements' within the United States Private Securities Litigation Reform Act of 1995. You can identify these statements and other forward-looking statements in this document by words such as 'may,' 'will,' 'should,' 'can,' 'could,' 'anticipate,' 'estimate,' 'expect,' 'predict,' 'project,' 'future,' 'potential,' 'intend,' 'plan,' 'assume,' 'believe,' 'forecast,' 'look,' 'build,' 'focus,' 'create,' 'work,' 'continue,' 'target,' 'poised,' 'advance,' 'drive,' 'aim,' 'forecast,' 'approach,' 'seek,' 'schedule,' 'position,' 'pursue,' 'progress,' 'budget,' 'outlook,' 'trend,' 'guidance,' 'commit,' 'on track,' 'objective,' 'goal,' 'strategy,' 'opportunity,' 'ambitions,' 'aspire' and similar expressions, and variations or negative of such terms or other variations thereof. Words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such statements regarding the transactions contemplated by the Agreement and Plan of Merger (the 'Merger Agreement'), dated as of July 30, 2025, by and among CoreCard, Euronet and Genesis Merger Sub Inc. (the 'Transaction'), including the expected timing of the closing of the Transaction; future financial and operating results; benefits and synergies of the Transaction; future opportunities for the combined company; the conversion of equity interests contemplated by the Merger Agreement; the issuance of common stock of Euronet contemplated by the Merger Agreement; the expected filing by Euronet with the SEC of the Registration Statement and the proxy statement/prospectus; the ability of the parties to complete the proposed Transaction considering the various closing conditions and any other statements about future expectations that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such forward-looking statements are based upon current plans, estimates, expectations and ambitions that are subject to risks, uncertainties and assumptions, many of which are beyond the control of Euronet and CoreCard, that could cause actual results to differ materially from those expressed in such forward-looking statements. Key factors that could cause actual results to differ materially include, but are not limited to, the expected timing and likelihood of completion of the Transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the Transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreement; the possibility that CoreCard's shareholders may not approve the Transaction; the risk that the parties may not be able to satisfy the conditions to the Transaction in a timely manner or at all; risks related to disruption of management time from ongoing business operations due to the Transaction; the risk that any announcements relating to the Transaction could have adverse effects on the market price of Euronet's common stock; the risk that the Transaction and its announcement could have an adverse effect on the parties' business relationships and business generally, including the ability of CoreCard or Euronet to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers, and on their operating results and businesses generally; the risk of unforeseen or unknown liabilities; customer, shareholder, regulatory and other stakeholder approvals and support; the risk of potential litigation relating to the Transaction that could be instituted against CoreCard or its directors and/or officers; the risk associated with third party contracts containing material consent, anti-assignment, transfer or other provisions that may be related to the Transaction which are not waived or otherwise satisfactorily resolved; the risk of rating agency actions and Euronet's ability to access short- and long-term debt markets on a timely and affordable basis; the risk of various events that could disrupt operations, including: conditions in world financial markets and general economic conditions; inflation; the war in Ukraine and the related economic sanctions; and military conflicts in the Middle East. These risks, as well as other risks related to the proposed Transaction, will be described in the Registration Statement that will be filed with the SEC in connection with the proposed Transaction. While the list of factors presented here and the list of factors to be presented in the Registration Statement are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Additional factors that may affect future results are contained in each company's filings with the SEC, including each company's most recent Annual Report on Form 10-K, as it may be updated from time to time by quarterly reports on Form 10-Q and current reports on Form 8-K, all of which are available at the SEC's website Euronet regularly posts important information to the investor relations section of its website. Any forward-looking statements made in this release speak only as of the date of this release. Except as may be required by law, neither Euronet nor CoreCard intends to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances. Important Information for Investors and Stockholders In connection with the proposed transaction, Euronet plans to file with the SEC a registration statement on Form S-4 (the 'Registration Statement'), which will include a proxy statement of CoreCard that also constitutes a prospectus of Euronet, and any other documents in connection with the transaction. After the Registration Statement has been declared effective by the SEC, the definitive proxy statement/prospectus will be sent to the holders of common stock of CoreCard. INVESTORS AND SHAREHOLDERS OF CORECARD AND EURONET ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT EURONET, CORECARD, THE TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other documents filed by Euronet or CoreCard with the SEC, when filed, will be available free of charge at the SEC's website at Alternatively, investors and stockholders may obtain free copies of documents that are filed or will be filed with the SEC by Euronet, including the registration statement and the proxy statement/prospectus, on Euronet's website at and may obtain free copies of documents that are filed or will be filed with the SEC by CoreCard, including the proxy statement/prospectus, on CoreCard's website at The information included on, or accessible through, Euronet's or CoreCard's website is not incorporated by reference into this press release. No Offer or Solicitation This press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Participants in the Solicitation Euronet and CoreCard and their respective directors, executive officers and other employees may be deemed to be participants in the solicitation of proxies from CoreCard's shareholders in connection with the proposed Transaction. A description of participants' direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus relating to the proposed Transaction when it is filed with the SEC. Information regarding Euronet's directors and executive officers is contained in the definitive proxy statement, dated April 4, 2025, for its 2025 annual meeting of stockholders, and in Euronet's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Information regarding CoreCard's directors and executive officers is contained in CoreCard's definitive proxy statement, dated April 14, 2025, for its 2025 annual meeting of shareholders, and CoreCard's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Additional information regarding ownership of Euronet's securities by its directors and executive officers, and of ownership of CoreCard's securities by its directors and executive officers, is included in each such person's SEC filings on Forms 3 and 4. These documents and the other SEC filings described in this paragraph may be obtained free of charge as described above under the heading 'Important Information for Investors and Stockholders.' Euronet Contact Stephanie Taylor Director, Financial Planning and Investor Relations +1-913-327-4200 CoreCard Contact Matt White +1-770-564-5504 [email protected]
CNA
19 hours ago
- Politics
- CNA
Thailand and Cambodia reaffirm truce commitment at China-facilitated talks in Shanghai
Thailand and Cambodia have reaffirmed their commitment to Jul 28's truce, following reports of sporadic cross-border skirmishes. Officials from both sides were in Shanghai for informal consultations, brokered by China. Beijing pledged to play a constructive role to promote a peaceful solution between the Southeast Asian neighbours. Leong Wai Kit and Saksith Saiyasombut report.
Zawya
2 days ago
- Business
- Zawya
MoneyGram and Bank AlJazira partner to expand cross-border money movement in Saudi Arabia
RIYADH, Kingdom of Saudi Arabia: MoneyGram, a leading global payments network for consumers, businesses and communities, today announced resuming money transfer services with Bank AlJazira, a leading bank in Saudi Arabia. This partnership expands access to physical and digital cross-border money movement solutions across the Kingdom, supporting Saudi Arabia's Vision 2030 and its goal of building an inclusive, digitally empowered economy. Now, Bank AlJazira's customers can send money to over 200 countries and territories via the bank's digital channels or at FAWRI Retail locations where they can also receive money across the Kingdom, providing convenience for Saudi nationals, residents and visitors. Powered by MoneyGram's global payments network and world-class APIs, customers benefit from a range of transfer methods, including bank accounts, mobile wallet and cash pick up. This announcement of receive service supports millions of visitors who travel to Saudi Arabia year-round for Hajj and Umrah pilgrims, business or tourism. This highlights MoneyGram's strategic focus on enabling inbound remittance services into the Kingdom and serving a broad range of customers from around the world. 'Over the past decade, MoneyGram has partnered with the Kingdom's leading fintechs, mobile wallets and banks to deliver a broad range of cross-border solutions,' said Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram. 'Today, we're proud of our partnership with Bank AlJazira – a trusted brand with strong technological capabilities – to advance our mission of connecting the world by making the movement of money across borders seamless, affordable and reliable for everyone.' Recipients of funds sent from Saudi Arabia will benefit from flexible payout options – whether picking up cash at one of MoneyGram's 480,000+ global retail locations or receiving funds across five billion digital endpoints 'This collaboration delivers greater value to our customers by offering faster and more reliable international money transfer services. It strengthens our commitment to providing seamless and reliable financial solutions, ensuring we meet the evolving needs of our customers, both locally and globally,' said Fahad AlMuteri, Head of Digital Banking at Bank AlJazira. Remittances from Saudi Arabia rose to $4.13B in March 2024, marking a 29.61% year-on-year increase and the highest monthly level recorded in nearly nine years 1. Approximately 42% of the Kingdom's population are immigrants, many of whom have relocated for economic opportunities. These expatriates primarily send money to key remittance corridors, such as India, Indonesia, Pakistan, Bangladesh, Egypt and Yemen. -END- About MoneyGram MoneyGram connects the world by making the movement of money across borders seamless, affordable and secure for everyone. Each year, the company serves more than 50 million people in over 200 countries and territories. Headquartered in Dallas, Texas, with offices in 36 countries, MoneyGram is globally recognized for its high-performance culture and has been honored as a Top Workplaces USA award winner for four consecutive years. MoneyGram Media Contact media@ About Bank AlJazira Bank AlJazira (BAJ) is recognized as one of the leading Shariah compliant fast growing financial institutions in Saudi Arabia, client-driven and service-oriented Saudi Financial Group which provides individuals, businesses and institutions with innovative Shariah compliant financial services through professional and dedicated staff. 1 Arab News 'Saudi Arabia's expat remittances hit near 9-year high at $4.13bn in March'
