MoneyGram Expands Business in #Libya, Says Senior Director

Mr. Richard Meredith, MoneyGram’s Senior Regional Director for the Middle East is seen here in the center of the front raw with a number of MoneyGram agents in Libya, March 2013. Tripoli-- After visiting Libya for a few days during which he took part in promotional events, Mr. Richard Meredith, Senior Regional Director for the Middle East, says the MoneyGram team is very excited to be in the country where business opportunities are abundant. Contrary to some media reports, Meredith says everyone is moving around the city of Tripoli with ease. MoneyGram services in Libya are offered at many major banks and branches across the country including National Commercial Bank (NCB), Al Sarafa Exchange, Al Waha Bank, Wahda Bank and Mediterranean Bank. Business in Libya has witnessed a strong full-year and fourth quarter 2012. Money transfer constant currency revenue growth went up 13 percent in the same period, while transaction growth increased by 14 percent. The Tripoli Post’s Correspondent, Noureddine Boughanmi, caught up with Mr. Meredith for an interview about MoneyGram’s business activities in Libya and here are excerpts of that interview: Q: How do you find the New Libya? A: The MoneyGram team is very excited to be in Libya. We are glad that there the conflict has ended and we see many exciting and promising opportunities. We are moving around the city with ease, and are excited to see our agents. MoneyGram provides an important financial service to a varied group of customers and it’s encouraging to be in the market and close to our customers and agents. Q: What are your plans to expand in Libya? A: MoneyGram had hired a Libyan citizen, Mr. Mahmoud Tabib, to be MoneyGram’s local representative in Libya based in Tripoli. We believe it's important to be close to our customers and agents. His task is to provide support to MoneyGram agents in operations, IT and marketing. We see a huge opportunity for growth in Libya and we are working hard with our agents to maximize the MoneyGram business to expand through our existing agent relationships. We are investing into marketing and other activities to ensure customer retention and Loyalty. Q: What are the key corridors for Libya? A: So far Egypt is the largest corridor from Libya and MoneyGram has the largest receive network in Egypt conveniently located at Banque Du Caire, United Bank, Piraeus Bank and Sphinx Exchange Company. We payout in USD in Egypt and these locations are part of MoneyGram’s 310,000 locations globally. MoneyGram also has conveniently receiving networks in Morocco, Tunisia, Ghana, Nigeria, Bangladesh, Jordan, Lebanon, UAE, Pakistan, India and Europe all countries and regions which expats in Libya and Libyans are sending money to. MoneyGram, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers bill payment services in the United States and Canada and money transfer services worldwide through a global network of more than 310,000 agent locations – including retailers, international post offices and financial institutions – in 197 countries and territories. To learn more about money transfer or bill payment at an agent location or online, please visit www.moneygram.com or connect with us on Facebook.    tripoli post