Bank Nizwa partnered with Axis Bank, India’s third largest private sector bank, to provide its customers with fast, convenient, and competitive rates to transfer and receive funds in over 120 banks and over 80,000 branches across India.

The partnership offers a real-time rupee remittance facility, based on using the innovative and automated Axis Remit Direct. The service allows customers to save on transfer charges and enjoy instant transfers to Axis Bank accounts, and within one working day to all other accounts in India.

“The Bank Nizwa international money transfer service appeals to individual and corporate clients alike. It offers complete security and reliability with competitive exchange rates,” said Khalid Al Kayed, CEO of Bank Nizwa. He added, “Our goal is to continue being ahead of the curve, always setting trends of reliability, customer excellence and positive experiences.”

Customers will also benefit from corporates availing of remittance services and their expat staff on account of their salary accounts with Bank Nizwa. These salary accounts will be funded monthly from the corporates’ current account, thereby giving their staff access to a suite of personalised products and services that meets their day-to-day financial needs on highly competitive terms. With the launch of this service, Bank Nizwa is offering an end-to-end solution to both its retail and corporate clients with other value-added Sharia-compliant products and services.

The new service is in line with Bank Nizwa’s strategy to continue expanding its Sharia-compliant secure and competitive electronic international money transfer service. The service is available to customers transferring money electronically to a foreign bank’s beneficiary account. A range of currencies is available, including the US dollar, the euro, the Great Britain pound, the Japanese yen, the South African rand, the Jordanian dinar, the Pakistani and Indian rupees, as well as the Gulf Cooperation Council (GCC) currencies.