The companies expect the branches to be fully operational in September. With the addition of Intesa San Paolo Bank, MoneyGram's money transfer network increases to more than 100 locations throughout the territory in less than a year after entering the Bosnian market.

"Making MoneyGram's money transfer services available at our bank locations will provide a valuable service to those who bank with us as well as consumers who do not, but still have a need to send or receive money around the world," said Amir Termiz, division director, Intesa San Paolo Bank. "Together, Intesa San Paolo Bank and MoneyGram are making it more convenient and economical for people to conduct their money transfers through trusted organizations."

According to Marietta Doxopoulou, regional director, MoneyGram, Bosnia is an attractive region to build the company's network and money transfer services. "There are more than 1 million Bosnians living and working outside the country. Adding Intesa San Paolo to the MoneyGram network increases access to conveniently sending and receiving money. Our robust money transfer network will help residents build a better future for themselves and their families."

According to the World Bank, more than 1 million Bosnian citizens live and work outside the country, the 12th-highest proportion of a country's population living abroad. The majority of money transfer sends to Bosnia originate from Austria, Germany, Switzerland and the United States.