In order to support recovery from the earthquake that damaged many parts of Morocco on September 8 and the flooding that began in Libya on September 11, several money-transfer firms are offering free international transfers to people affected by the disasters.
UAE-based e& Money, the financial technology (fintech) arm of e& Group, is offering free money transfers to users in Libya and Morocco until September 30. These can be performed via the e& Money virtual card for delivery as a bank transfer, e-wallet transaction or in-person cash pick-up.
Botim, an online payment and communication subsidiary of the UAE-based holding group Astra Tech, is offering the group’s 150 million users the opportunity to send funds to Morocco at no charge until further notice. Abdallah Abu Sheikh, Astra Tech’s Founder, and Botim’s CEO added, “We are deeply saddened by the tragic earthquake that has struck Morocco, and we are committed to providing aid to all those in need in the country.”
Mohamed Touhami el Ouazzani, Head of Africa at US-based Western Union, said “As [Morocco] comes together in rescue efforts and the rebuild process begins, we hope that enabling zero transfer fees for consumers sending money home to their loved ones can help contribute and support.” In particular, Western Union is offering free bank transfers to Morocco until October 11. The firm has 150 million customers in 200 countries.
By Pranav Agarwal, Research Associate
Sources and Additional Resources
Twitter post from e& Money on Libya fee waiver
https://twitter.com/eandmoney/status/1702737204072616224
Twitter post from e& Money on Morocco fee waiver
https://twitter.com/eandmoney/status/1701918261133090909
Fintech Finance News article on Botim
https://ffnews.com/newsarticle/paytech/botim-announces-zero-fee-money-transfer-to-aid-morocco-earthquake-relief/
Western Union press release
https://corporate.westernunion.com/2023/09/13/western-union-supports-earthquake-relief-efforts-in-morocco/
E& Money homepage
https://www.eandmoney.com
Botim homepage
https://botim.me
Astra Tech homepage
https://astratech.ae
Western Union homepage
https://www.westernunion.com
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