khaleej times / aDVeRtisiNG sUPPlemeNt

Farhana Chowdhury

When the need comes to improve living standards and increasing monetary income,

many choose to leave the comfort of their homes and seek jobs in foreign nations. This has grown into a trend as can be seen through an immense number of expatriates living abroad, notably in the UAE, who support their families and home country through remit-tances. The concept of sending money to a loved one — be it to pay for expenses such as education, food, monthly bills, mortgages, to invest in properties or save up for

retirement — as well as the dif-ference in currencies has made a significant impact in the both the remitter as well as the receiver’s quality of life.

The Philippines government es-timates that about two million Filipinos live and work in the Middle East. In the UAE alone, over 600,000 Overseas Filipino Workers (OFWs) are involved in a variety of sectors ranging from construction, design, media and telecommunications to logistics, information technology, real estate and healthcare.

Remittances are a reliable source of revenue for the country. In a recent report, the World Bank noted that remittances from overseas workers to the Philippines rose to $24 billion in 2012, which made it the third highest re-mittance recipient of the year among developing countries. These figures were an estimate based on monthly and quarterly information from the central banks and the International Monetary

Funds balance of payments.Filipinos, known for their hard-

working nature, lively spirits and positive outlook on life, have mastered the art of limiting personal expenses and usually live in shared accommodations so that they can dedicate most of their monthly earnings to members back home. This action further helps boost the country’s economy as statistics by the World Devel-opment Indicators (WDI) show that remittances contributed about 10.3 per cent to the country’s GDP in 2011.

Philippine overseas labour offices (POLO) alongside agreements between both the UAE and Filipino governments ensure that expat Filipinos receive a set minimum wage, which further strengthens the support system. And, thanks to a strong network to keep expats buoyed during fi-nancial crises, OFWs manage to find decent jobs within their area

Building a futureThe Philippines ranks high in remittances

RakBaNk

Simply better remittance solution to Philippines with RAKBANK Bayani

Connect with a card

Filipino expats form one of the largest expat communities in this country, many of whom col-lect their salaries through other means rather than a bank ac-count. Recognising the lack of suitable financial solutions aimed at the Filipino community in the UAE, RAKBANK launched its Bayani prepaid card to offer the convenience of plastic money with the advantage of an instant and cheap remittance service to the Philippines. Upon application for a Bayani prepaid card, cus-tomers automatically receive a main reloadable prepaid card plus an add-on card to send to the cus-tomer’s loved ones back in the Philippines. By loading the main Bayani card here in the UAE, the cardholder can send money in-stantly to those in the Philippines by transferring money to the add-on card in US dollars through on-line banking or SMS.

Prepaid cards are the easiest way to budget day-to-day ex-penses given that customers can spend only up to the amount loaded on their cards. They are not linked to any current or savings account, but they store cash while allowing for unlimited cash withdrawals, online payments, and point of sale pur-chases whether locally or during travel. Therefore, the Bayani main cardholders and add-on

cardholders can use their cards to withdraw cash from any ATM in the UAE and worldwide that accepts MasterCard cards, while the add-on cardholders have the additional advantage of with-drawing funds in pesos from any ATM in the Philippines for free. Both the main and add-on cards are covered with free travel ac-cident insurance cover and purchase protection insurance.

Additionally, Bayani prepaid cards include numerous offers on retail purchases to help customers save through a wide range of over

100 buy-one-get-one-free offers, including 30 exclusive benefits at Filipino outlets in the UAE.

For a complete list, and for any other enquiries, customers can visit www.rakbank.ae. Also RAKBANK is giving away 50 Samsung Galaxy SIII phones to Bayani cardholders. This pro-motion, running until March 31, entitles customers to a chance to enter the draw for every Dh250 spent on their main card, and two chances for every Dh250 spent in the Philippines using the add-on card.

Additionally, Bayani prepaid cards include numerous offers on retail

purchases to help customers save through a wide range of over 100 buy-one-get-one-free offers, including 30 exclusive benefits at Filipino outlets in the UAE• TUrn To pAgE 27

khaleej times / aDVeRtisiNG sUPPlemeNt

Waiting patiently in pink is a daughter of an overseas Filipino worker (OFW) at a remittance agent in Pedro Gil St., Manila, as she lines up for her turn at the teller. She receives her monthly allowance from her mother, who works as a domestic helper in the UAE. As she completes her trans-action, a group of children dressed as angels rush to meet her, stop-ping her in her tracks with a sere-nade. They also give her a single rose, a box of chocolates and a greeting card, all courtesy of Xpress Money.

On Valentine’s Day, Mary-Ann Pagulayan was caught off-guard by this surprise. Although she was delighted by the unexpected gesture, it was the phone call with her mother that truly brought her to tears.

“I miss my mom, so I’m really glad I was able to speak with her. I didn’t expect it,” said Pagulayan. The surprise was not just sweet nothings… Xpress Money was able to bring joy to its customers who have relatives abroad by recon-necting them, even if for a few brief minutes.

“Relatives of those abroad do not see their loved ones over long periods of time and it can get dif-ficult while they are gone,” said Vinesh Nair, Vice-President, Global Marketing and Communi-cations at Xpress Money. “We un-derstand the sacrifices these indi-viduals have to make to secure a better future for their family. Here at Xpress Money, we try to bridge that physical distance by doing these small gestures for our cus-tomers, while giving them the best products and service offerings. As a brand we are deeply engaged with the OFW community and we would like to help them save their hard earned money, which is why we levy no back-end charges on the remittances received in Phil-

ippines on Xpress Money channels. To us, each of our cus-tomers is special, and we are glad we could help them feel that way during this activation that we ran in the Philippines during the Val-entines Day period.”

Leah A. Pagosante from Ilocos Norte has not seen her husband in three years, but with this surprise, she did not feel alone on Valen-tine’s. “Even though I’m apart from my husband, I’m still really happy because angels sang to me,” she said.

The Xpress Money team also surprised John Anthony Gan, whose wife is working in Dubai. “This is the first time we’ve been apart, I really miss her,” he said. “This caught me off-guard, but this is a nice touch. I collected the money that my wife sent to me at the right time!” he added. Gan like many others chose Xpress Money because of the brand’s fast, reliable and affordable service. The fact that Xpress Money does not charge its cus-tomers receiving money in the Philippines any back-end charges was another reason why Gan

chose the brand over other money transfer operators. He said that he is able to receive the exact amount that his wife sends to him using Xpress Money since there are no back-end charges.

Lorita J. Barnido, who similarly has not seen her daughter in three years, said: “Xpress Money is cheaper, and the money always gets delivered on time.” Without back-end charges, Xpress Money allows its customers to save P125 on every transaction. This is a significant amount for OFWs and their families who believe that every peso counts.

Family members of OFWs miss their loved ones all-year round, sometimes years pass by before they are reunited. As a brand that cares for its cus-tomers, Xpress Money arranged this special surprise for several customers over the Valentine’s Day weekend across its locations in Manila in the Philippines. The intention was simple, to make each customer feel special and remembered and help bring loved ones who are miles apart, closer.

Besides being a financial conduit, Xpress Money tries to bridge physical distance between people by doing these small gestures for its customers

Sending love through Xpress Money

An outstanding journey

Alfalah Exchange Company is all set for expansion and has plans to become one of the largest ex-change companies by the end of 2015. Shakeel Ahmed Khan, Gen-eral Manager, Alfalah Exchange Company, announced.

“God has eased our efforts to achieve much in this area within a short period in the life of Alfalah Exchange, and may God guide our way to achieve our strategic objec-tives,” said Shakeel Ahmed Khan.

“This success is because of the honourable shareholders and board of directors and for their trust and the manifestation of their unwavering support and su-pervision, that has always strengthened confidence and mo-tivates us more in facing the new challenges and ultimately in at-taining our corporate goal and eventual growth of our company. It is also due to our esteemed cli-ents for choosing and accepting Alfalah and of course to our em-ployees who have been the verte-bral column of the leading periph-ery performance,” he added.

At the moment, Alfalah Ex-change is among the most rapidly expanding exchange companies in the UAE. Alfalah Exchange Com-pany have 17 operational branches while more new branches are ex-pected to be operational during the second quarter of 2013. “To-day, we have 17 operational branches across the UAE. We will be announcing the opening of our 35th branch in the UAE by the end of 2015 and will be known as one of the largest exchange companies in the UAE. A deep sense of pride crosses me today, with an achieve-

ment, which has been accom-plished within a very short period,” the General Manager added.

Shahid Gul, Business Develop-ment Manager, Alfalah Exchange Company said: “Our performance distinctiveness is uniquely defined by our work culture and everything we do. Our culture begins with our four values that drive everything we do: Trust, integrity, innovation and involvement. We live in new realities and emerging trends — knowledge explosion, increase in involvement, technological change, government policies and interference, change in society.”

Alfalah Exchange Company is all set to become one of the largest exchange companies in the UAE by 2015

alFalah exChaNGe ComPaNy

shakeel ahmed khan, General manager, al Falah exchange

Paula afalla receives a red rose, box of chocolates and a greeting card from xpress money, on behalf of her fiancé who is working in Dubai

lorita Barnido had a tearful conversation with her daughter in Dubai

lorita Barnido receives a warm hug from the group of kids who serenaded her. Dressed as angels, they sang to her the timeless classic “endless love”

john anthony Gan shies away from the camera, as onlookers take videos of the singing group

god has eased our

efforts to achieve much in this area within a short period in the life of Alfalah Exchange, and may god guide our way to achieve our strategic objectives

Shakeel Ahmed Khan

Remittances to PhiliPPineskhaleej times / aDVeRtisiNG sUPPlemeNt

in an ongoing effort to help pro-tect consumers from becoming victims of fraud, Western Union, a leader in global payment ser-vices, is offering the latest infor-mation and tips on common Inter-net scams.

As important and convenient as it is to our everyday lives, the In-ternet is an increasingly common platform used for all kinds of scams. For example consumers should not use a money transfer service to make purchases through Internet auction, marketplace and classified ad sites such as eBay, Dubizzle and Souq.com.

So as an ongoing reminder about the dangers of fraud,

Western Union warns consumers about the following scams:

Internet purchases scams 1. Emergency scams 2. Relationship and dating 3. scams Sweepstakes and lottery 4. prize scams Rental property scams 5. Employment scams 6. Advance fee / prepayment 7. scamsForeign business offer 8. scam Next of kin scam 9. Foreign dictator scam10. Over-invoiced funds scam11. Charity scam 12.

Sobia Rahman, Western Union’s Regional Vice-President for Pakistan, Afghanistan and the Gulf commented: “We want to impress upon all our customers the need to be extra vigilant and alert not only when making transfers but also when pur-chasing on line. We hope that we can help to make people even more aware of the kinds of scams in existence and help reduce the likelihood of them becoming victims.”

Western Union suggests a series of tips to protect consumers from fraud as part of its global

Consumer Fraud Education Campaign:

Never send money to people •you haven’t met in person Be alert: If an offer sounds •too good to be true, it usually isNever send money to pay for •taxes or fees on lottery or prize winning schemesBe sceptical of any offer •where you have to pay money up frontNever use a test question as •an additional security measure to protect your transactionDiscontinue any transaction, •if someone coaches you on how to respond to questions asked by Western Union. This could be a sign of fraudNever provide your bank-•related information to people or businesses you don’t knowDo your research; check out •the company that contacted you through trusted sourcesNever send money for an •emergency situation without verifying if it’s a real emergency Never make a money transfer •for on line purchasesBuy goods and services from •known and trusted sources

What can be more satisfying for Filipino expats than the possibility of sending money to their dear ones’ bank accounts instantly. Does it look like a tall claim? Be assured it isn’t. UAE Exchange, your trust-ed global remittance and foreign exchange brand, has brought FLASHremit, its super-successful in-stant bank transfer service, to Philippines.

Filipinos are much sought after the world over for their commitment, perseverance and penchant for quality at everything they do. They expect the same in return too. For money transfers too they insist on security and speed. For 32 years now, UAE Exchange has been their favourite for all money transfer re-quirements, be it cash payouts or bank credits. The global money transferrer is always on a value-en-hancement drive for its Filipino customers as it shares a special relationship with them.

Towards this UAE Exchange has introduced FLASHremit services in Philippines. The real time account credit service takes bank transfers to the next level, adding speed to the security of bank transfers through the UAE Exchange. The money reaches your dear ones’ bank account even before you walk out of the branch.

You can walk in to any of the close to 700 branches in 30 countries to send money home through FLASHremit. The remittance major has a strong correspondent banking relationship with over 150 global banks, of which more than 10 banks are from Philippines including Allied Bank,

Asia United Bank, Bank of the Philippine Islands, BDO Unibank Inc, Development Bank of the Phil-ippines, Land Bank of the Philippines, Metropolitan Bank & Trust Company, Philippine National Bank, Rizal Commercial Banking Corporation, United Coconut Planters Bank and Ventaja International Corporation. Currently UAE Exchange has joined hands with Asia United Bank and Metropolitan Bank & Trust Company in Philippines for FLASHremit. Talks are on with other banks too and soon the value-laden real time account credit fa-cility will be active across all of them. In time this would enable every Filipino to send money to any bank account real time, thus transferring happiness, instantly.

Along with FLASHremit, UAE Exchange also offers Money2anywhere.com, the secure online money transfer portal available in nine countries; Smart Pay, the WPS-compliant leading payroll so-lution; Western Union, the popular instant money transfer service with over 486,000 agent locations in over 200 countries and territories; and Xpress Money, the popular instant money transfer service with over 170,000 agent locations in 150 countries. Money sent through Xpress Money reaches right at the doorstep, a facility exclusively offered to Fil-ipinos.

As a token of appreciation for bestowing their trust on the UAE Exchange, the remittance brand offers Filipinos value-laden promotions like Filipino Fest and Money Majlis, which offer exciting prizes, making their dreams come true, while transferring happiness.

For more information log on to www.uaeexchange.com

Uae exChaNGe

Use FLASHremit, the super-successful instant bank transfer service to the Philippines

Transfer happiness in real time

khaleej times / aDVeRtisiNG sUPPlemeNt

of expertise with good pay and benefits.

Over the years, the transfer of money has become far more con-venient with several banking in-stitutions and exchange houses offering several ways to remit varying amounts. With many dotting every nook and corner in the UAE, Filipino expats have easy access to these outlets and are guaranteed a fast, reliable and secure way to send money home.

Data from the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) showed that end of September 2012 saw a 5.5 per cent (a total of $15.6 billion) in-crease in remittances from OFWs, which was higher than the previous year.

“Although migrant workers are, to a large extent, adversely af-fected by the slow growth in the global economy, remittance volumes have remained re-markably resilient, providing a vital lifeline to not only poor

families but a steady and reliable source of foreign currency in many poor remittances recipient countries,” said Hans Timmer, Director of the bank’s Devel-opment Prospects Worldwide re-mittances,

The World Bank further states that remittances to developing countries including the Phil-ippines are expected to rise in the next three years with 7.9 per cent this year, 10.1 per cent in 2014 and 10.7 per cent in 2015.

— farhana@khaleejtimes.com

• ConTinUEd From pAgE 25

Internet is an increasingly common platform used for all kinds of scams. Exercise caution when dealing with money

Don’t become a scam victim

Building a future

Remittances to PhiliPPines khaleej times / aDVeRtisiNG sUPPlemeNt

Remittances have become a major source of inflow to Philip-pines since the late 2000s. The flow of remittances through formal channels has increased multifold in the last couple of years due to increasing expatriate workers. The UAE and other GCC countries have been the major hosts for the migrant population from the Phil-ippines.

According to the World Bank report that was published in 2012, Philippines was listed at third po-sition in the top 10 recipients of migrant remittances for the year 2012 receiving $24 billion. The money they send back is an im-portant driver of domestic spending and is worth about 10 per cent of the Philippines gross domestic product. About 4.2 per cent of the total remittances sent to Philippines come from the UAE alone given the fact that there are about 500,000 Filipino nationals living in the UAE.

Many Filipino families depend on cash from relatives working abroad in hospitals, shops, con-struction sites, retail sector and households in the GCC. Filipino expatriates, residing in different countries across the GCC, can send money home instantly through various institutions and channels. LuLu International Ex-change qualifies to be one such channel that is trusted and fa-voured by the Filipino expats to send money home. They could send money from any of the easily accessible and widely networked branches across the UAE.

LuLu International Exchange has tied up with several leading banks in Philippines viz. Philippine National Bank, Banco De Oro, Land Bank of the Philippines, Rizal Commercial Banking Corporation (RCBC), Metro Bank, i-Remit,

Transfast, Western Union, etc. to make the transactions smoother, faster and reliable. LuLu interna-tional Exchange with 17 branches spread across the UAE has ded-icated Filipino staff to cater to the Filipino customers. The exchange major also is concentrating on ex-panding its range of services and reach to the Filipinos. LuLu Inter-national Exchange is also working on offering real time host-to-host facilities with all of its partners within this year.

Apart from sending money, cus-tomers can also get their foreign currency exchanged at competitive exchange rates clubbed with per-sonalised customer service. In fact, LuLu International Exchange is contemplating of incorporating a company called LuLu Philippines International Exchange in Phil-ippines, which would primarily deal in buying and selling of cur-rencies and inward and outward remittances.

lUlU iNteRNatioNal exChaNGe

Money Transfer Convenience now made easier, reliable and quicker at LuLu International Exchange

To home, with love

It is the company’s ongoing commitment to enhance the customer experience by iden-tifying customer requirements. The company’s corporate slogan, “Valuing Your Trust” is the re-flection of the company itself. LuLu International Exchange has been successful in tirelessly de-livering the best of service ex-cellence to its customers earning their complete satisfaction and trust in the bargain.

As a socially responsible organi-sation, LuLu International Ex-change has ensured fair business practices including rigorous com-pliance to global anti-money laun-dering protocols, in the best in-terest of its regulators and customers. The exchange house, well known for its customer-centric approach and value-laden service provides safe, reliable and quick services for its customers to send money to their loved ones across borders.

Filipino expatriates, residing in different countries across the gCC, can

send money home instantly through various institutions and channels. LuLu international Exchange qualifies to be one such channel that is trusted and favoured by the Filipino expats to send money home. They could send money from any of the easily accessible and widely networked branches across the UAE

Remittances to PhiliPPineskhaleej times / aDVeRtisiNG sUPPlemeNtkhaleej times / aDVeRtisiNG sUPPlemeNt