India and the UAE become closer

[img_assist|nid=7174|title=|desc=|link=none|align=left|width=100|height=66]Proclaimed partnership between Emirates Post and India Post followed with the launch of a low-cost instant money transfer service called Express Money Order (EMO). This service costing only Dh11 per transaction was launched on Monday and has simultaneous functions held in UAE and India. This system will transfer money between two countries by means of IFS/STEFI secure network of the Universal Postal Union (UPU), through a server in Berne, Switzerland.

Owing to the new system, customers are now able to make transfers from any postal office in the UAE to any of 97 head post-offices and 2,400 sub-post offices in India. It is necessary to note that India has a network of 155,333 post offices which connects even the most remote parts of the country.

The customers using new remittance service have two options: either they send money to India and ask the recipient to come to a selected post office or they pay additional Dh4 and the money will be delivered to the specified address.

System has some limits and restrictions, so a single Money Order issued by Emirates Post for payment in India shall be less than $ 2,500 (Dh9,100) or its equivalent. Also the number of remittances to one recipient is limited by 12 Money Orders per year. Indian addressees get the sums less than 50,000 Indian rupees in cash and more than that amount by cheque.