DUBAI, United Arab Emirates-Thursday 25 June 2020 [ AETOS Wire ]
Transfast,
a leading cross-border payments service provider with presence in over
140 countries, has partnered with Habib Bank Limited (HBL), the largest
commercial bank with over 1700 branches in Pakistan, to facilitate
expatriates around the globe to send money to Pakistan.
The
remittance facility between Transfast and HBL is now available to the Pakistani expatriates globally. This partnership further strengthens
Transfast’s network in Pakistan and provides an option to customers to
receive money from over 1700 branches of Habib Bank across Pakistan.
“HBL is one
of the most esteemed financial institutions in Pakistan and it is an
honor to partner with them. Transfast is fully committed to offer
competitive pricing, fast transfer of funds and personalized customer
engagement,” said Samir Vidhate, SVP & MD, Transfast. “Through this
partnership we will provide our Pakistani customer base with more
convenient and accessible ways to collect money from any branch of HBL
in Pakistan and to send money to any bank account in the country.”
Faisal
Noor Lalani, Head International Banking, HBL remarked ‘’I would like to
take this opportunity to thank Mr. Vidhate for coming to Pakistan. I
look forward to giving full support to the entire teams of both the
institutions in my capacity, to make our partnership fruitful. This is a
proud moment for HBL as this new arrangement will be beneficial to all
the customers who look to make fast international money transfers to HBL
Pakistan. Together, we look forward to providing excellent services to
our customers with commitment to banking excellence for a better
tomorrow.’’
Remittances
account for 6% of Pakistan’s GDP and the government has offered several
incentives to encourage even more cash flow into the country. According
to initial estimates from the State Bank of Pakistan, the country
received a record $21.84 billion in remittances in 2019. That number is
expected to go up as analysts predict that more than eight million
overseas Pakistanis will continue to send money back home with
remittances poised to hit $23 billion.
About Transfast:
Transfast
is a global cross-border payments network provider that covers over 140
countries across Asia, Europe, Africa, Americas and Australia.
Transfast is owned by Mastercard. For more information, visit www.global.transfast.com
Contacts
Rasheed Palliyalil
Watermelon Communications
+97142833655
