MoneyGram International and Agrani Bank Announce Alliance to Begin MoneyGram Money Transfer Services Across Bangladesh

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Dubai,16^th August, 2009: MoneyGram International (NYSE:MGI), a leading global money transfer company, and Agrani Bank, a leading commercial bank in Bangladesh have launched MoneyGram International Money Transfer services at 867 Agrani bank locations. Agrani Bank is 10th Bank in Country to Offer MoneyGram Service
 
“We are pleased to provide MoneyGram’s money transfer services across Bangladesh and to offer the convenience of service between 190 countries and territories. We are looking forward to an exciting and fruitful relationship. Adding MoneyGram’s money transfer service will add value to our customers and widen the array of services that we offer through our branches,” said, Mr.Syed Abu Naser Bukhtear Ahmed Managing Director & CEO Agrani Bank.      
 
MoneyGram’s Richard Meredith, Regional Director for Middle East, Pakistan and Afghanistan, said, “Bangladesh is an important market with more than $6 billion remitted to the region in 2007 according to the World Bank. We’re pleased to launch our service with Agrani Bank and to offer our safe, reliable money transfer services through their broad network of bank and foreign exchange branches. Bangladeshi’s can send money home from UAE from any of the Al Rostamani International Exchange, Al Fardan Exchange, Al Ahalia Exchange or any other location with MoneyGram sign,”
 
Agrani Bank is the 10th bank in Bangladesh to offer MoneyGram’s money transfer services. Globally, MoneyGram has 180,000 agent location including 15,200 on the Indian Subcontinent. MoneyGram money transfer service has been available in Bangladesh for approximately 10 years.
 
With a large number of Bangladeshis settled in the Middle East,U.S., U.K., Italy, Canada and Australia , remittances of funds from these countries to their families in Bangladesh is high. Locally, customers can walk into any MoneyGram location including all branches of Al Rostamani International Exchange, Al Fardan Exchange and Al Ahalia Exchange or anywhere there is a MoneyGram sign to send money to Bangladesh. MoneyGram’s low fees to Bangladesh include sending up to AED 4,400 for a fee of just AED 20.

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