KUALA LUMPUR, Aug 30 (Bernama) — AmBank Group and Gulf International Bank have inked a Memorandum of Understanding (MoU) to appoint AmBank as the primary settlement bank for bespoke remittances from Malaysia to the Kingdom of Saudi Arabia. Through this collaboration, AmBank Islamic shall provide a unique proposition for specialist tour agents to facilitate remittances services.
Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group said, “We are pleased to partner with Gulf International Bank to enhance the current process and service levels such as same day settlement thus reducing transit and delays in fund realisation, competitive foreign exchange rates and lower transaction costs, as well as improve transaction reconciliation. This gateway expands our ability to make our customers’ international payments and cross-border banking more convenient and secure.”