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Funds can be remitted in one of the following ways:
a)By Rapid Funds2India
b) By Telegraphic Transfer / wire
c) By Demand Draft
d) Quick Remittance
Funds required to be remitted can be deposited with us by cash (certain restriction apply) or by cheque or through your bank. Once the funds are received by our bank /collected from your bank through Clearing, the funds become available for further remittance. In case of Telegrapic transfer, the remittance is transmitted to the beneficiary's branch through our own network of SWIFT/ TELEX/FAX Systems on the day the funds become available to us. Demand drafts are usually collected by the purchaser at the branch counter.
The rate of exchange of UAE Dirhams to Indian rupees is determined daily on the basis of market conditions of demand and supply. This rate can be ascertained from our branch by making telephonic call at any time during working hours or can be heard from our Tele-Banking system. However, rate which is in force at the time funds are made available to us for transfer is applied.
For making funds transfer, we need a duly filled up request form, which is available from our branch. Usually, in addition to your name, address , telephone # and identification #, similar particulars of beneficiary are also required to be filled up in this form. A copy of the Labour card is required for the Remittance above AED 2000/- along with the application form Any Remittance beyond AED 40,000 requires Passport and Work permit and also proof of source of funds to be remitted. For further clarification, you may contact us anytime though telephone.
Opening an account is very easy, provided you can furnish documentary evidence of your identification. Account opening form can be collected from our branch. This form contains list of documents required to be furnished for opening an account.
No. No Tax is levied on the deposits in U. A. E.
Yes. You can always deposit cash in your accounts. However, it is our experience that deposits by way of cheques are always more convenient and risk free.
No. We do not levy any fees / charges for collecting Cheques made out in your favor payable anywhere in our branches in UAE and deposited by you for collection. This service is provided to our customers free of charge. However, in case any fee deducted by the paying bank and / or any out of pocket expenses are incurred by us on this collection, the same are recoverable from you.
Sh Rashid Building, 2nd Floor,
Ali Bin Abi Talib Street,
P.O. Box 3162, Bur Dubai, UAE
T : 00971 04 313 6666
T : 00971 04 316 6600