Reliance Financial Services

Reliance is the largest non-bank financial institution in The Gambia with over 75,000 customer accounts. The new collaboration with WorldRemit will drive convenience for its customers as well as advance The Gambia's progress towards financial inclusion. The deal supports WorldRemit's plan to serve 10 million customers connected to emerging markets by 2020. Remittances play a vital role in The Gambia's economy. According to the World Bank, Gambia received $216 million in remittances in 2017, representing 21% of the country's GDP. Andrew Stewart, Managing Director, Africa and Middle East at WorldRemit, comments: "We are delighted to be partnering with Reliance, the leading microfinance institution in The Gambia. "Our partnership supports financial inclusion initiatives in The Gambia, connecting its diaspora to our safe, fast and low-cost online money transfer service, and offering recipients in urban and rural areas a greater variety of convenient cash pickup locations." Baboucarr Khan, Founding Managing Director of Reliance, comments: "Our partnership with WorldRemit is yet another manifestation of Reliance's commitment to changing lives through technological innovations. Reliance is dedicated to providing convenient, accessible and affordable money transfer services to the Gambian diaspora and their beneficiaries." Last year WorldRemit became Arsenal FC's first-ever online money transfer partner in a global sponsorship deal. WorldRemit customers complete 1 million transfers every month from over 50 countries to over 145 destinations. More than half of its transfers go to Africa.