MoneyGram Expands Global Reach with Bank AlJazira Partnership in Saudi Arabia

MoneyGram has shaken hands once again with Bank AlJazira, opening the doors for customers in Saudi Arabia to send and receive money just about anywhere on the planet. It’s the sort of partnership that feels spot on for the times, as more people look for quick and reliable ways to move funds across borders—something I’ve seen come up time and again while chatting with startups across the MENA region here at Arageek.

Thanks to this collaboration, anyone banking with AlJazira can now use their local digital services or pop into a FAWRI retail spot to send money to over 200 countries and territories. It’s not only a perk for Saudi nationals, but also a lifeline for residents and visitors (think Hajj and Umrah pilgrims, as well as those travelling for work or tourism). With MoneyGram’s global tech in the background and a selection of transfer methods—straight into a bank, mobile wallet, or even cash pickup at over 480,000 outlets worldwide—the whole process aims to be less of a faff than it used to be.

Fahad Almutairi, who heads up Digital Banking at Bank AlJazira, reckons this move is about keeping pace with what customers want—faster, fuss-free transfers, both within Saudi Arabia and beyond. On the flip side, for MoneyGram, Ahmed Aly (their point man for the Middle East, South Asia & Asia Pacific) underlined the importance of offering seamless remittance services—connecting people wherever they are.

What really grabbed my attention, though, was the sheer scale of remittances flowing out of Saudi Arabia. In March 2024, expat transfers tipped the scales at a whopping $4.13bn, up nearly 30% from the year before—a nine-year high. With close to 42% of the population being immigrants (not something you hear every day!), the majority of these funds are sent back to places like India, Indonesia, Pakistan, Bangladesh, Egypt, and Yemen. If you ask me, it’s a clear sign that cross-border payments aren’t just a luxury… for many, they’re a necessity.

I’m not a fan of overly complicated fintech solutions, but this upgrade feels like a step in the right direction: fewer hoops to jump through, more transparency, and hopefully, lower costs for people who need it most. That said, tech alone can’t solve every problem—there’s always room for smoother customer support, especially when money’s involved.

Arageek’s always been about empowering the region’s entrepreneurs and dreamers, and this kind of move—making financial services more accessable—really hits home. It’ll be interesting to watch how this plays out on the ground, especially as Saudi Arabia nudges closer to its Vision 2030 goals of becoming a digital heavyweight.

Anyway, whether you’re on the sending or the receiving end, these changes might just save you a bit of hassle next time you need to move money abroad. And believe it or not, sometimes the biggest wins come from simply making life that little bit easier.

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