MoneyGram Expands Collaboration with Tahweel Alrajhi to Strengthen Receive Network Across Saudi Arabia

MoneyGram, a leading global payments and money transfer company, today announced a significant expansion of its receive network in Saudi Arabia through an enhanced partnership with Tahweel Alrajhi, the remittance arm of alrajhi bank – one of the Kingdom’s largest and most trusted financial institutions.

Through this expanded collaboration, customers across Saudi Arabia can now conveniently receive international money transfers at more than 140 Tahweel Alrajhi locations. This collaboration makes it easier than ever for individuals and families to access funds sent from abroad, including self-transfers—with the convenience of cash pickup in local currency.

With a strong nationwide footprint across both major cities and underserved areas, this strategic alliance reinforces MoneyGram’s presence in one of the world’s key inbound remittance markets. It also enhances the accessibility of MoneyGram’s global network, which already spans over 480,000 locations across more than 200 countries and territories.

“This milestone demonstrates our unwavering commitment to meeting local customer needs through accessible and reliable services,” said Ahmed Aly, Head of Middle East, South Asia & Asia Pacific at MoneyGram. “Tahweel Alrajhi’s extensive reach and reputation as a trusted provider make it an essential partner as we work together to expand financial access and elevate the remittance experience for communities across the Kingdom.”

“We are always looking to improve the services we offer to our customers,” said Majed Saleh Al-Rajhi, General Manager Retail Banking at Tahweel Alrajhi. “Expanding our receive capabilities through MoneyGram allows us to better serve communities across the Kingdom, supporting families who rely on fast and reliable access to funds.”

According to recent market insights, international inbound remittances to Saudi Arabia grew by 5.5% in 2023, reaching US$298.3 million in 2024. The market is projected to maintain steady growth with a 3.5% CAGR from 2024 to 2028, ultimately reaching US$342.7 million by 2028.