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Travelex, the market leading foreign exchange brand and wholesale banknote supplier to over 200 financial institutions and central banks around the world, has launched its wholesale banknote business in the Middle East.
The business already attracts a wide range of retail banking and non-banking clients in the region and plans to aggressively expand its client base in EMEA and Asia in 2023.
Underpinning this growth is Travelex leveraging its international vault network and ability to distribute banknotes globally, with the Middle East WBN business already undertaking freight to and from Malaysia, Hong Kong, the UK and the Gulf region.
global market share
By expanding its Middle East WBN business in 2023, Travelex aims to become one of the leading wholesale banknote suppliers in the Middle East and Turkey and further expand its global market share.
To provide customers with security that meets their needs, WBN Business has also invested in partnerships with several cash transport providers, including its UAE partners Transguard Group, Brinks, Loomis, Ava Global, G4S and World Security; WBN also Expanding cooperation with Etihad Secure Logistics & Cash Trans.
Batu Dolay, Commercial Director Middle East and Turkey at Travelex, said: “Our aim is to become the leading WBN MSB in the MENA region by building a solid reputation for reach, reliability, pricing and speed.
“We pride ourselves on our unrivaled ability to source and distribute banknotes globally, utilizing Travelex’s global network of vaults, and we look forward to expanding our customer base in 2023 with long-term partnerships in Europe, Asia, and the wider Middle East and North Africa related areas and other areas.” — trade arab news agency
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