Dubai: More than 125,000 blue-collar workers across the GCC received financial literacy training by Xpress Money to educate them about the importance of using legal and regulated channels for money transfers.
Teams of the money transfer company reached out to the workers across the GCC providing them with focused financial literacy training over the last three months.
The teams visited 300 labour accommodation clusters in the UAE, Oman, Kuwait, Bahrain, Qatar and Saudi Arabia. They provided training to educate the workers on important topics such as financial planning, savings, the importance of using legal and regulated channels for money transfers and how ‘hawala’ or ‘hundi’ transactions can rob them of all their hard-earned money and life’s savings.
“We played a crucial role in educating Indian expats about remonetisation on every step, and how their beneficiaries could receive the money sent by them without any hassle. We want to raise awareness among blue-collar workers who can be at risk of falling prey to grey remittance channels and scams,” said Ashwin Gedam, vice-president of Global Marketing, Xpress Money.
The financial literacy training was provided to expats from India, Bangladesh, Pakistan, Nepal, Sri Lanka, the Philippines, Kenya, Nigeria, Ghana, Uganda and Ethiopia. The teams visited labour clusters on a weekly basis and on an average covered 35 camps a week, across these countries.
“We want to ensure that the blue-collar customers are assured that they can remit money securely, with complete traceability and a guarantee that it will reach the intended recipients safely and on time,” he added.
He stressed that they also want to support the regulators and authorities of the UAE in promoting financial transparency.
