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The US bank, Citizens and Southern had taken a 49% stake, and local interests owned 51%. At some point Citizens & Southern was forced to sell its shares to local interests. Eagle Commercial Bank had been established in 1968, and Island Victoria Bank in 1993. In 2001, Royal Bank of Trinidad and Tobago bought Union Bank of Jamaica. [1]
Among these, Western Union still stands as the dominant remittance service provider in the United States. [7] Globally nearly 1 in every $5 being sent across borders went through Western Union in 2011, which amounted to nearly $80 billion. Although Western Union is the largest of the remittance focused companies, they certainly aren't the only one.
Union Bank of Jamaica This page was last edited on 9 March 2020, at 02:47 (UTC). Text is available under the Creative Commons Attribution-ShareAlike 4.0 ...
Since then, the company has become one of the biggest international money transfer services. With Western Union, you can make international money transfers to over 200 countries and territories ...
Western Union is the world's leading handler of remittance and the 170,000 Western Union agents handle about 25 percent of the total global remittance traffic. [10] Other companies such as MoneyGram have also been a key player for decades. Pure play money transfer providers may be owned by parent companies with more diverse interests.
The following article presents a comprehensive overview of countries ranked by the amount of remittances they receive from abroad. Remittances, defined as monetary transfers made by migrants to their home countries, play a crucial role in global economies and the livelihoods of individuals and families.
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