MANILA, Philippines--I-Remit Inc. the leading non-bank Filipino cash transfer company, has gained a foothold in Syria with the signing of a partnership with Damascus-based money remittance and foreign exchange trading firm Al Alamiah Group Co.
Company officials told the Philippine Stock Exchange yesterday that they had signed a memorandum of agreement with Al Alamiah, hoping to serve about 17,000 Filipinos based in Syria.
“The agreement allows a tie-up of two companies in offering money remittance services to Filipino workers in Syria who intend to remit money to beneficiaries in the Philippines,” i-Remit said.
The agreement expands i-Remit’s global footprint, having established presence in 26 countries and territories.
In 2008, i-Remit reported a remittance volume of $1.08 billion, up by 42 percent over a year ago.
