Virgin Gold will launch a new module of Beneficiary Bank Registration and Credit Withdrawal at the end of this month. In many countries, the process of approval for Beneficiary Bank Registration will be automated (within 48 hours). Specific banks will be designated in many countries for Credit Withdrawal in order to facilitate payment processing and reduce the processing time by our payment providers.
We would also like to inform shareholders that due to Eid al-Fitr (Eid Mubarak) Celebration in Muslim countries around the world this weekend, there will be an estimated one week delay in processing credit withdrawal request from Middle Eastern, some South East Asian and African countries. We are confident that all of these withdrawals will be fully processed by the end of the month.
Thank you.
Matthew Jacobsen
Vice President - Investor Relations
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