Successful expansion of E-Monee

Achievements of E-Monee in Dubai operations were recently announced by the company to its shareholders. As it was already said before E-Monee initiated its expansion to the Middle East in order to reach the under banked market currently serving the construction boom in Dubai.

In a move to facilitate basic financial instruments for expatriates in the area of Dubai that account for 12 million individuals E-Monee continues establishing satellite offices throughout Dubai in the areas where the work forces currently reside. These offices are destined to serve as the point of contact and disbursement for the work force in Dubai and provide a convenient access to cash and other financial services.

Earlier this year the government of Dubai imposed a mandate on all construction companies to have all expatriate workers on an electronic payment system by January 2008 but later the period was prolonged. Thereby E-Monee has an opportunity to continue making every effort to introduce its systems in order to meet the extended deadline.

In view of the fact that banks find it quite inconvenient to service low-value accounts and impose minimum monthly balance requirements or charge heavy fees to cover their operating expenses E-Monee offers such a service that allows employers to credit salaries to workers' accounts automatically. Hundreds of ATMs and thousands of Point-Of-Sale units will be available to expatriate workers at very nominal costs and with no minimum monthly balance requirements. Besides they will be enabled to remit funds back home in a method that is cheaper, safer and more convenient than current alternatives.