ABC Bank has launched a money remittance service, called iRem, to facilitate fast and secure money transfers from Kenya to India, to grow its reach in to new markets.
The service will allow ABC Bank customers and non-customers to make person-to-person, business-to-business and business-to-customer funds transfer in the Indian currency, Rupee, at competitive forex rates.
The newly launched service will enable the funds transfer via SWIFT (Society for Worldwide Interbank Financial Telecommunication).
Commenting on the launch of the new service, ABC Bank group general manager Peter Kinyanjui said: "Essentially, the remittances between the two countries are increasing in direct proportion to the growing socio-economic activity between them, hence the need for reliable and cost effective funds transfer solutions.
"This product is more than a remittance solution; it will further catalyze the entrepreneurial acumen and prop up the social support system of the Indian communities in both countries," Kinyanjui added.

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