13 April 2017

Money transfer global company, Xpress Money, said it had trained over 125,000 workers in the six Gulf Cooperation Council countries over the past three months on how to plan their finances and use regulated channels to transfer money, the company said in a press release on Wednesday.

“Xpress Money has a proud history of community outreach, and prides itself on being a responsible member of the global financial sector. Our program was designed to promote financial security and inclusion by raising awareness among blue-collar workers – who can be at risk of falling prey to grey remittance channels and scams,” Ashwin Gedam, the firm’s vice president of global marketing said in the press release.

“Simple but important tips on how to save money are very well appreciated by the audience. We are happy to have made a small but essential difference to the lives of thousands of expats residing in the GCC,” he added.

The trainings, according to the statement were given to expats from India, Bangladesh, Pakistan, Nepal, Sri Lanka, Philippines, Kenya, Nigeria, Ghana, Uganda and Ethiopia.

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Many employees in the GCC frequently complain from the high cost of living that make them unable to save money

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A survey conducted by compareit4me consultancy firm in the period from December 2015 to January 2016 showed that about 30 percent of over 2,200 residents in the United Arab Emirates (UAE) who were surveyed in the study said they were unable to save “a single dirham”.

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