The document discusses several topics related to remittances: 1) Samsara Money Transfer (SMT) has launched a new logo and taken on new management to provide a more competitive remittance service in Nepal. 2) UAE Exchange has become the first remittance brand in the Middle East to receive the TISSE2012 excellence certification for customer service. 3) Remittances from Kenyans living abroad, especially in North America and Europe, increased by 31% last year due to economic recovery and jobs in resilient industries. 4) GenX Solutions provides software and consultancy services to simplify businesses processes like remittances, payments, and compliance.

1. 
SAMSARA MONEY February-01 GenXzine-04 2013
TRANSFER (SMT) ............. 1
UAE Exchange Accredited
with TISSE 2012 ............... 1
KENYAN DIASPORA
Remittance
REMITTANCE IN U.S .......... 2
 FACE BOOK REMITTANCE
…..2
Samsara Money Transfer (SMT) -A new brand identity
Samsara Money Transfer (SMT) recently
focus
Executive Officer of Century Bank Ltd. Samsara
launched its new logo with the new motto – also tied up with SDBL, Janata Bank, ID Bank&
Bringing Happiness with the commitment to NDEP Bank for remittance arrangements.
offer an easy remittance service, and deliver Samsara is the super-agent of multinational brands
happiness to its valued customers. Established like Moneygram, Xpress Money Services, Instant
in June 1, 2006 and licensed by the Central Cash and U-Remit while its has its own set up in
bank of Nepal with the paid up capital of countries like Malaysia, UAE, Saudi Arabia, Jordan,
NPR. 50 million. Samsara is the super agent of Lebanon, New Zealand and 32 other countries from
international Money transfer companies like across the globe.
Moneygram, Xpress Money and Instant Cash. New Management at Samsara Money Transfer
Besides thse, the company also has its own set Samsara Money Transfer (SMT) has been taken over
up in UAE, Saudi Arabia, Lebanon, Jordan and by new management. The new team comprises of
New Zealand. Efforts are also being made to personnel who are sharply driven by the selection
open new corridors for Nepal from India, and involvement of highly professional domain
United Kingdom and Australia. Back home, experts which is sure to provide competitive edge to
SMT has an extensive network of more than the business. The company is spear-headed by Mr.
1400 financially and technically sound agents Hans Raj Jain, Chairman, who also heads other sister
covering every district in Nepal. concerns comprising of financial, manufacturing,
Just a few days back, Samsara Money Transfer trading, travel, technology and service sectors. Mr.
has entered into an alliance for money transfer Jain is actively supported by Mr. Jeewan Babu
arrangement with Century Bank Ltd. to Shrestha, Executive Vice Chairman who brings with
facilitate disbursement of Century Remit. him more than 20 years of experience in banking
According to the agreement, Samsara will sector and has also headed as CEO in one of the
disburse the payment of Century Remit through Nepal’s renowned money transfer company. Mr.
its more than 1900 agent locations spread across Suraj Chhetri, Director of Marketing, Mr. Saroj
Nepal. The memorandum of understanding was Powdel Director of Business Development and Mr.
exchanged between Executive Vice Chairman Jagat Rijal, Director of Operations also carry
of Samsara Money Transfer Mr. Jeewan Babu professional working experience in Remittance
Shrestha and Mr. Ganesh Kumar Shrestha Chief Company for more than 7 years.
UAE Exchange accredited with TISSE 2012 for excellence in Customer
Service
UAE Exchange accredited with TISSE 2012 certification by The International Customer Service Institute (TICSI),
United Kingdom. UAE Exchange is the first remittance brand in the Middle East to attain the ‘International
Benchmark’ excellence level in TISSE2012.
The quest for excellence has helped UAE Exchange, the leading global remittance and foreign exchange
brand, to be TISSE 2012 certified. This quest enables one to realize the core strength and is the driving force
for all activities and operations, which result in greater performance and inspire various key areas that define
the success of an organization. The International Customer Service Institute (TICSI), United Kingdom,
accredits this certification to enable organizations to focus their attention on the delivery of excellence in
th
service quality. The certification ceremony was held on 7 February, 2013 in Dubai, where the Country Head
Quarters of UAE Exchange is situated.

2. Kenyan Diaspora
remittances rise on US
economic recovery Now you can use
Facebook for
THE BUSINESS DAILY international currency
transfers
Summary (Sh4.53 billion) sent in
December last year, slightly The Telegraph- A money
Remittance Industry a) Data released last month by the up from $44.5 million (Sh3.87 transfer service was this week
banking regulator showed Kenyans billion) sent in October when integrated into the social
Soars In The First working in the US and Canada the share from this region networking site that allows users
were the main senders of money to send money to more than 125
Months Of 2013 accounted for 48.5 per cent of
back home. countries.
The Wall Street Journal shone a total dollar inflows. Over the
b) The Kenyans living abroad The low-cost service was set up
highly favorable light on the same fourth quarter
remitted $1.17 billion (Sh101.7
remittances from Europe by Azimo, a UK-based company
remittance industry in billion) last year
accounted for $29.3 million that says it is the first time users
an article published February c) Economists suggested that the
(Sh2.55 billion) or 27.7 per will be able to send money
10th, 2013 which highlights the growth in remittances is mainly
cent, up from $25.4 million between international bank
approaching IPO for remittance driven by an increase in the
(Sh2.2 billion) in October. The accounts via Facebook.
up and comer Xoom – leaving no number of Kenyans working in
eurozone’s share of overall
industries such as health and Michael Kent, founder of Azimo
question that this bears a positive remittances remained the same
academia, which are relatively said:“Unlike other areas of
ripple effect for the remittance at 27.7 per cent.
recession resistant. financial services, social media is
industry in Canada and DebitWay
very applicable to remittances.
INTERAC® Online remittance
Ongoing economic recovery in the Economists suggested that the With more than a billion people
solutions. growth in remittances is mainly
US helped to grow remittances around the world using Facebook
“With remittance companies now from Kenyans in the diaspora by driven by an increase in the to keep in touch with friends and
going public and onto the stock nearly a third last year, a Central number of Kenyans working in family, it seems only natural it
market, it signals that the industry Bank report shows. Data released industries such as health and should become a channel for
as a whole has built itself upon a on Tuesday by the banking academia, which are relatively sending money."
foundation of reliability and regulator showed Kenyans working recession resistant. “Kenyans The new service will challenge
stability,” says Rod Tomita, in the US and Canada were the tend to migrate to high-skill
the domination of established
Regional Senior Business main senders of money back home, zones of the labour market
money transfer providers such as
Development Manager for with remittances exceeding the $1 such as health,
Western Union and Moneygram,
DebitWay.ca “which are the billion (Sh86 billion) mark. The pharmaceuticals, universities,
Kenyans living abroad remitted and research. "These sectors who take the lion’s share of the
same pillars we have built
$1.17 billion (Sh101.7 billion) last have tended to be resilient in US$500 billion-a-year market.
DebitWay INTERAC® Online
year. “The sustained increase the US recession, compared to The high fees charged by some
remittance services upon as we
resulted in a 31.4 per cent growth sectors that virtually collapsed, providers has prompted the
grow and expand the remittance
in remittance inflows from $891.1 such as construction World Bank to investigate the
industry in Canada.”
million in 2011 to $1.2 billion in the and financial activities allied to “remittances” market. Its
An important trend to note in the
full year of 2012, an indication of Wall Street,” said Dr Mbui research shows that the average
remittance industry, which Xoom
resilience in remittance inflows to Wagacha, a consultant commission on a money transfer
has already embraced, is the economist with the CBK.
Kenya despite the weak global is nearly 10 per cent, rising to
push towards mobile and online economy,” said the Central Bank of Remittances from other regions almost 20 per cent for some
solutions, which are now Kenya (CBK) in a statement. also increased over the last countries. This can make a huge
competing directly with the more quarter of 2012 to $24.3 million
The North American region dent in your wallet if you are
traditional brick and mortar agent (Sh2.11 billion) by the end of
whose economies are still regularly transferring money back
locations. December from October’s
recovering accounted for nearly to your home country.
DebitWay INTERAC® Online $21.8 million (Sh1.89 billion).
remittance services offer access half of the inflows, followed by Increase in dollars would be
to the Canadian market with a Europe which is also emerging welcomed by the Treasury as it
secure and trusted product from a recession. Remittances offers a cushion for the
known to every Canadian who from North America accounted country’s import cover, which in
has a debit card in their wallet. for 49.3 per cent or $52.1 million. turn strengthens the shilling.

3. zs
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and Licensing Options. multi-language enabled. MS IRAM SALEEM
DIRECTOR OPERATIONS &
COMPLIANCE
5432 Any Street West
Townsville, State 54321
For more details contact:
GenX Solutions
genxzine@genxsolutions.in
www.genxsolutions.in