First Nationwide Money Transfer Service to Somalia, Djibouti and Ethiopia

gwk travelex and dahabshiil to provide much requested service in the netherlands

amsterdam, december 6, 2004 – as from now, somalis living in the netherlands who need to send money home can do so officially for the first time using the travelex money transfer (tmt) service. tmt provides a fast, reliable and secure way for sending money. the tmt service to somalia, djibouti and ethiopia is available at all 50 gwk travelex branches throughout the netherlands. the money sent to the horn of africa can be collected at any one of 170 branches of dahabshiil – the leading financial institution in the region. in order to increase awareness for this new method of sending money to somalia, gwk travelex and dahabshiil will be employing a somali promotion team.

there are many reasons for using the tmt service to somalia, djibouti & ethiopia. both send and receive agents have extremely well located and top quality locations. the gwk travelex branches have very convenient opening hours, many open 7 days a week as well as in the evenings. the tmt service is able to guarantee the amount of money which will be received, regardless of when it is picked up and this money is also available for same day collection. the fees offer excellent value for money, starting from only € 8, or even less with the tmt globe card – a loyalty programme available to all customers.

saskia van opijnen, managing director gwk travelex said “gwk travelex are delighted to provide the somali community in the netherlands with a fast, secure and legitimate way to send their hard-earned money to their families in somalia. we are very pleased to be working with dahabshiil which has earned its reputation as a leading supplier of financial services throughout somalia and the surrounding countries in the horn of africa.”

abdirashid duale, ceo of dahabshiil said “gwk travelex has an unrivalled reputation for customer service and we believe we have found the right partner in the netherlands. i am confident this will be very successful partnership that will meet fully the money transfer needs of the somali community. it will ensure that migrant remittance, which provides a lifeline to millions in the horn of africa, is transferred through a formal, secure and reliable channel.”

about gwk travelex

gwk travelex is the expert in the field of payments and cash funds and securities for private clients and businesses. gwk travelex is the result of the takeover of gwk bank by travelex in the closing months of 2004. travelex plc is the world’s largest foreign exchange specialist, with over 650 retail branches and 16,000 business customers. gwk travelex has approximately 50 offices, located at the major dutch railway stations, at schiphol airport, in the centres of major cities and along the dutch borders. the four core activities of gwk travelex are: 1) the retail organisation (currency exchange, international money transfers, coupon redemption, cash payments); 2) atms; 3) services in the sphere of cash funds to banks and other businesses; 4) cross-border payments. for more information, please visit www.gwktravelex.nl.

about dahabshiil

dahabshiil is the largest money transfer company in the horn of africa. it has more than 200 branches in the somali regions where it is the largest private sector employer. as the leading financial services company, it also offers banking services including savings and cheque accounts to individuals, businesses and international organisations in somalia.