SAFARICOM TO OFFICIALLY INTRODUCE MPESA IN SAUDI ARABIA

Sending money back home is usually a hectic process especially for Kenyans living in Saudi Arabia as one has to go through long queues at banks, returned by the teller by being told” System is slow habibi”, or “Your names don’t’ match” and worse is your boss telling you a never ending “Bukra Inshallah,” if you’re a lady.

But the hassle will soon be over as Kenya’s living Saudi Arabia will soon be able to send money directly to their families back home through M-Pesa services…Good news!

Telecommunication giant, Safaricom is set to sing a deal with Xpress Money Saudi Arabia in which Kenyans in the Kingdom will be able to send money directly to their families ‘mobile phones and receive instantly just like their compatriots in UAE and Qatar.

Although there has been no official communication on this development, sources claim that the telecom providers is in talks with Saudi Arabian Monetary Agency (SAMA) and various regulations and policies set by  (SAMA) is yet to be agreed on by Safaricom.

Sources add that, Some of SAMA’s regulations include “controlling and monitoring “all the transactions of each remitter which includes, the amount of money one sends will be compared to his/her salary so as to control illegally transferred money through Mpesa.The services to be provided by through Saudi banks just like Western Union, Speed cash and other. However, Safaricom is adamant on these and is seeking a deal similar to that it had with Xpress money in UAE.

Safaricoms latest move to control remittances by Kenya’s in Saudi Arabia, comes a year after it signed a partnership deal with Xpress Money Dubai in which Kenyans in UAE were for the first time able to send moneyt thought MPESA. Safaricom also partnered with Qatar Airways to have customers pay for tickets using M-Pesa.