Transguard, the Emirates Group's security services provider, is to provide cash handling services to the National Bank of Dubai (NBD). The company recently opened a new currency management center in the Dubai Airport Free Zone (DAFZ), which has the capability to process one million bank notes per single eight-hour shift.
Transguard's cash handling services to NBD will include the secure transportation of cash between the bank's branches and its customers. It will also provide cash replenishment service for its automated teller machines (ATMs) and will process its bank notes, which includes segregating them according to quality, out-sorting counterfeits and packaging.
The Transguard Currency Management Center is receiving queries from Gulf Cooperation Council (GCC) countries interested in its cash processing service, which would entail the processing of cash inside the secure airport free zone and shipping it to any destination the client requires using the Emirates network, according to a company press release.
Transguard is the Emirates Group's security services provider. Transguard is based in the Dubai Airport Free Zone logistics center, with an office in the Dubai Air Cargo Terminal. It handles valuable cargo for export and import through Dubai airport, provides secure transportation in modern armored vehicles for valuables, provides international insurance tailored to individual needs and has an array of services ranging from airport to airport to door to door.
The Transguard Currency Management Center provides processing services in the UAE to the standard of the USA Federal Reserve, and is the only center in the Gulf region with the capability of providing exclusive logistical support to banks and financial houses. Money is collected throughout the day and taken to the Currency Management Center for processing overnight and is ready the next morning for distribution as required by the customer. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
