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The company aims to open up financial services for the low-income workers in the six-nation Gulf Cooperation Council: labourers, taxi drivers, cleaners and hotel staff who arrive largely from south Asia and Africa.
The GCC recorded outbound remittances of $120bn in 2017, according to World Bank data. However, Gulf banks tend to exclude workers earning less than $1,400 a month, leaving most of them reliant on exchange houses to remit cash home. “This is a huge market in front of us,” Mr Dillon says. “They come here for one purpose: to earn and send money back to their families.”
https://www.ft.com/content/c6d2ab36-b50c-11e9-b2c2-1e116952691a
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