Thanks to the partnership between CashUnited, a MoneyGram agent, and CSCBank SAL, the owner of CMO mobile app, Lebanese can now transfer funds anytime and anywhere in the world.
CMO is a new and innovative mobile-payment platform that offers an easy and quick way to transform any smartphone into a secure payment tool. Its network includes more than 15 banks and financial institutions.
CMO now lets you transfer money instantly around the globe in a few easy steps. Select the Money Transfer icon from the menu, choose MoneyGram and send the amount of your choice to any destination with just a few taps.
The new service was announced during a conference that also included an anti-money-laundering and consumer fraud protection training delivered by the SIC, MoneyGram and CashUnited experts.
The meeting, attended by the representatives from Lebanon Central Bank and CashUnited/MoneyGram’s subagents, is a part of both companies’ continuous commitment to compliance and protection of customers using money transfer services to support their family.
On the occasion, MoneyGram and CashUnited also announced the renewal of their partnership agreement for eight more years.
Money transfer services will continue to be available at hundreds of CashUnited locations across the country for customers looking for a way to send and receive cash or transfer money directly to a bank account.
“CashUnited is one of MoneyGram’s longstanding agents in the region. We have been working together since 1999 to bring inclusive financial services to the unbanked to provide them with a reliable financial connection to their loved ones abroad. Now we’ve accomplished another milestone by the addition of a convenient, digital channel to send money across borders,” said Paul Hanley, MoneyGram’s regional head, GCC & Levant regions.
“At CashUnited, we believe it is our duty to invest, train and inform our agents about the latest news and compliance techniques when it comes to money laundering and terrorism financing,” said Philippe Dagher, CEO of Cash United.
“We are also very proud of the launch of mobile service as it makes life easier for our customers to use latest innovations in money transfers,” added Dagher.
Lebanon is a dynamic remittance market, typically considered a “receive country” for money transfers. However, in recent years, the volume of outbound transactions has grown significantly.
According to the World Bank data, in 2017 nearly $7.9 billion flowed into Lebanon, accounting for 14.6 percent of the country’s gross domestic product (GDP).
MoneyGram, CashUnited and CSCBank partner to bring digital solutions to Lebanon
MoneyGram, CashUnited and CSCBank partner to bring digital solutions to Lebanon
Sulaiman Al-Rajhi Endowment projects worth SR8bn launched in Makkah
Sulaiman Al-Rajhi Real Estate Company has announced the launch of several real estate projects belonging to the Sulaiman Al-Rajhi Endowment system in Makkah, with a total investment exceeding SR8 billion ($2.1 billion). These projects include commercial, residential, and hospitality developments, as well as strategic land plots, as part of the company’s commitment to supporting the Kingdom’s real estate sector and enhancing the quality of life in the holy city.
The announcement was made during a field tour by a delegation of high-level officials including Saleh Al-Rasheed, CEO of the Royal Commission for Makkah City and Holy Sites; Ihsan Bafakih, chairman of the board of directors of Sulaiman bin Abdulaziz Al-Rajhi Holding Company; Haitham Al-Fayez, chairman of Sulaiman Al-Rajhi Real Estate Company and CEO of Sulaiman Al-Rajhi Holding Company; Moath Al-Mukhudub, managing director and CEO of Sulaiman Al-Rajhi Real Estate Company; and Anas Mansour Abadi, CEO of real estate at Sulaiman Al-Rajhi Holding Company and representative of the Sulaiman Al-Rajhi Endowment, alongside members of the board of directors of both the holding and real estate companies and the executive team.
The tour included the launch of the Tilal Towers project, with an investment value of SR2 billion, featuring more than 2,500 hotel rooms, strengthening the hospitality sector in Makkah.
The delegation also visited the Tilal Village project, valued at SR2.8 billion. It is one of the prominent qualitative projects within the hospitality ecosystem in Makkah.
Furthermore, the visit covered the residential buildings within Tilal Village, comprising 828 units, with an investment of SR800 million. The delegation inspected the specialized hospital, medical complex housing, and the office and commercial plazas.
During the tour, a contract was signed for the Al-Rajhi Center project, valued at SR250 million, as part of a comprehensive rehabilitation plan.
The inspection also included the Al-Ukayshiyyah land, spanning 4 million square meters, and the Al-Ghazzawi project land, valued at SR250 million.
The tour concluded with prayers at the Aisha Al-Rajhi Mosque, the second-largest mosque in Makkah after the Grand Mosque, with a capacity for 50,000 worshippers.
This visit underscores the importance of these investments, which represent a clear direction toward enhancing the management of the endowment’s assets through diversification, redevelopment, and strategic expansion, in line with the development goals of the Makkah city and Saudi Vision 2030.
Sulaiman Al-Rajhi Real Estate, a subsidiary of Sulaiman bin Abdulaziz Al-Rajhi Holding Company, continues to provide innovative solutions to elevate the real estate sector to international standards.
