MANILA, Philippines - iRemit, the Philippines' leading non-bank remittance company, recently signed an agreement with Bank Internasional Indonesia, one of Indonesia's biggest banks by assets, to provide fast, and reliable money transfer services for overseas Indonesians.
The agreement was signed by Rahardja Alimhamzah, Wholesale Banking Director and Bansan C. Choa, Chairman and CEO of I-Remit and witnessed by Dato' Khairussaleh bin Ramli, President Director of BII, Harris D. Jacildo, President and COO of I-Remit and Philippine Ambassador Extraordinary and Plenipotentiary H.E. Ma. Rosario C. Aguinaldo.
Bank Internasional Indonesia is 97.4% owned by Malayan Banking Berhad (Maybank), the largest financial services group in Malaysia.
Both the Philippines and Indonesia have large populations of overseas workers and expatriates. Both are listed among the world's biggest recipients of remittance inflows, with the Philippines receiving $21.3 billion and Indonesia receiving $7.1 billion.
"We are aggressively expanding to various parts of the globe, not just in places where there are concentrations of the Filipino diaspora. We also aim to increase our share of the other remittance corridors-money transfer transactions done by overseas workers, business professionals, and expatriates of other nationalities and ethnic backgrounds to different points around the world," Bansan C. Choa, iRemit Chairman and CEO, said.
IRemit is committed to serve new markets, as it strengthens its presence in the countries where it has already established itself.
"This alliance contributes to iRemit's growing international stature as a trusted global brand among overseas workers, business professionals, and expatriates of various nationalities," Choa said.