MoneyGram Doubles Agent Network in Bosnia and Herzegovina
New partnership with Bosnian Post, Sberbank acting as super agent
SARAJEVO (May 25, 2017) – MoneyGram, global provider of innovative money transfers, today announced a new super agency agreement with Sberbank, one of the fastest growing banks in Bosnia and Herzegovina. Through this collaboration, Sberbank will lead the on-boarding and management of new MoneyGram sub-agents in the country with the first being Bosnian Post which is now offering money transfer services at its 200 locations.
The new sub-agents introduced via Sberbank will complement MoneyGram's existing agent relationship in the country signed in 2016. This partnership reflects MoneyGram’s strategic goal to expand its agent’s network in the most dynamic remittance markets in Eastern Europe.
“Remittances play a vital role in country’s economy and everyday lives of Bosnian families enabling them to pay for life emergencies and essentials, or to help celebrate a special occasion,” said Radu Pojoga, MoneyGram’s head of key partnerships, Southern Europe. “We are proud of the role MoneyGram plays in this financial ecosystem by supporting financial inclusion since entering the Bosnian market in 2012. With the launch of new partnership with Bosnian Post and Sberbank acting as MoneyGram’s super agent, we’re doubling the network, being now closer to our customers living in rural areas who want to transfer money across borders in a fast and secure way. Our service will enable them to receive money in minutes in BAM, Euro and USD,” added Pojoga.
According to World Bank estimates, in 2016 remittances in Bosnia and Herzegovina reached nearly $1.9 billion which amounts to 11.3% of country’s GDP for 2015. The majority of money sent to Bosnia originated from Eastern Europe with countries such as Croatia ($493 million), Serbia ($278 million), and Slovenia ($128 million). Significant inflow comes also from Germany ($187 million), Austria ($171 million) and the U.S. ($154 million).
"Relationships that our clients have with their loved ones must not be interrupted because of the distance. We want their families and friends from all over the world to be there for them, in the most important moments. Therefore, through collaboration with partners we bring joy to our clients’ homes by allowing them use fast, safe and easy money transfers," said Jasmin Spahić, Sberbank’s Board Member.
Customers can now send money from any of the 350,000 world-wide locations where MoneyGram services are available directly to a Sberbank or Bosnian Post location where the funds will be available within minutes (subject to agent’s operating hours and in compliance with regulatory requirements).
“I’m excited that thanks to cooperation with Sberbank, we have joined MoneyGram agent network. As Bosnian’s leading postal services company we strive to expand our services by following business trends and responding to clients’ needs. Now they are able to send and receive money at more than 180 post offices within just ten minutes after it was sent from one of MoneyGram’s 350,000 locations worldwide,” said Mirsad Mujić, CEO of Bosnian Post.
About MoneyGram International
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.
About Sberbank BH
Sberbank BH operates in the Country since 2013 and is one of the fastest growing banks in the country with considerable market share in wholesale and retail business. The Bank offers a wide range of products and services such as deposit and investment products, debit and credit cards, retail and corporate landing. Sberbank BH is part of the Sberbank Europe Group (Sberbank Europe AG), headquartered in Vienna, Austria, is a banking group that is 100% owned by Sberbank Russia. Sberbank Europe Group is present in nine markets in Central and Eastern Europe (CEE): Austria, Bosnia and Herzegovina, Croatia, Czech Republic, Germany, Hungary, Slovenia, Serbia and Ukraine. In total, the bank has over 4,200 employees, operates 232 branches and serves over 660,000 customers (as of HY 2016, without SK).
About Public Company BH Pošta
BH Pošta Sarajeva acts independently, extending tradition and developing continuity of postal activities in BiH. Long experience resulted with development and modernization of traditional postal services in BiH. Uniting traditional and new, they produced business image that ensures a dominant position of the best postal operator at bh. market and even wider. Besides the existing, BH Pošta introduces the newest services. Fast development of postal traffic, new pallette of services and increasing clients' requests demand continuous adjustment. With intensive investment activity and leaning on, before all, its own expert staff, they have been constantly introducing the newest global technologies. Amon them the most importatn are: Hybrid Post, Sorting Center, Customs and Transport and others. Besides standard services, BH Post introduces new services suche as BH PostExpress – fast postal serivce, E-money wire, BH Post Net-money wire, Package of payment slips for registration and insurance of motor vehicles, etc.
Tel: + 48 (0) 22 377 2185
Mob: + 48 (0) 885 889 696
Tel: 033 294 735
Head of Communication Department
JP BH POŠTA d.o.o. Sarajevo
Tel: 033 252 713/719