MoneyGram Launches Money Transfer Services In Turkmenistan - Quick Facts

(RTTNews) - Global payment services provider MoneyGram International, Inc. (MGI) announced that it is expanding its worldwide network to Turkmenistan, reaching consumers in the country for the first time through an agreement with Garagum Bank.

The launch of MoneyGram's operations in Turkmenistan is especially important for athletes and visitors coming to Turkmenistan in connection with the 5th Asian Indoor and Martial Arts Games in 2017.

Funds sent through MoneyGram money transfer services are typically ready to collect at any of the company's nearly 350,000 locations within minutes upon sending, subject to agent operating hours, availability, and local laws and regulations.

Turkmenistan has one of the world's fastest-growing rates of economic growth and a population of about five million. Russia is the largest money transfer corridor for the country.