I-Remit Inc. (PSE: I) and Travelex have inked a partnership aimed at providing Filipino remitters in Bahrain the ease and convenience of sending and receiving money between Bahrain and the Philippines. Travelex is a leading foreign exchange specialist and this new service will be accessible at all 25 branches across the Kingdom, including five airport stores which offer remittance and FX products.
Founded in 1976, Travelex Worldwide is present in 70 countries across the globe, with more than 1,500 stores. It processes over 70 million transactions yearly, with products encompassing FX, VAT Refunds, Remittance, Prepaid cards and IMT.
I-Remit President Harris Jacildo expressed great pleasure about this partnership with Travelex. “Over the course of 16 years, we have emerged as a preferred provider of top quality worldwide remittance, expanding to reach a large segment of the population. We anticipate the synergy created by this partnership in further facilitating remittances for residents of the Kingdom,” he said. “The Philippines ranks as the third largest remittance recipient in the world with over $32 billion being received in 2017 alone, according to the World Bank Data wherein outflow of remittance from Bahrain to the Philippines was recorded at $224 million.”
Tom Fane, Travelex Managing Director for Middle East & Turkey, said, “We are delighted to partner with I-Remit and bring the Filipino community of Bahrain a great, new product which will make sending money back home much easier. There are nearly 60,000 Filipinos residing in the country and with I-Remit’s brilliant network of pay-out locations across the Philippines and same day service, our customers will really feel the benefit.”
In celebration of the new partnership, remitters sending money to the Philippines via I-Remit can avail the best rates in Bahrain over the next three months and enjoy a host of other exciting benefits.