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NBP joins hands with WorldRemit for digital money transfers to Pakistan

NBP joins hands with WorldRemit for digital money transfers to Pakistan

ISLAMABAD: Using the WorldRemit app, Pakistanis living in over 50 countries can send money directly from their smartphones to NBP cash pickup locations

WorldRemit and National bank of Pakistan have launched safe, fast and low-cost international transfers to 1,500+ NBP cash pickup locations and designated branches of Pakistan Post Office.

The Pakistani diaspora living in over 50 countries, including the USA, UK, Canada and Australia, can now send money to NBP cash pickup locations using their smartphones. WorldRemit is also offering its customers zero fees on transfers (terms and conditions apply) to Pakistan.

WorldRemit is a global leader in online money transfers. It saves customers’ time and money as they do not have to pay expensive fees to a money transfer agent in order to send money home. Over 90pc of the company’s transfers are authorized within 10 minutes.

NBP, a government-owned bank, is committed to extending access to financial services to all income groups. The bank is also on the frontline in the State bank of Pakistan’s National Financial Inclusion Strategy, promoting financial inclusion of the unbanked.

NBP President Arif Usmani stated, “Remittances play a vital role in the economy of Pakistan. It is the single largest source of foreign exchange for the country. The government is specially focused on home remittances as well as on issues being faced by overseas Pakistanis. In line with the government’s vision, we at National Bank of Pakistan are also playing a role in facilitating the overseas Pakistani’s across the globe in contributing towards the development of the country. We take the remittance business as our national duty.”

He said NBP has the most penetrative branch network in Pakistan and owing to the recent collaboration with Pakistan Post, the bank would soon have the largest network for remittance payments in the country.

“NBP also holds the trust of millions of customers and has the largest customer base (account holders) among all the Pakistani banks,” he noted.

He said the collaboration between NBP and WorldRemit will not only be beneficial for both the institutions but will also help the government to facilitate the Pakistanis living abroad.

WorldRemit Country Director for Pakistan Hamza Islam said, “NBP is a natural partner for WorldRemit, as we both look to extend access to remittances through formal and safe channels.

“WorldRemit is constantly looking for new ways to make it convenient for Pakistanis living at home and abroad to send and receive money. With this new partnership, we are delighted to extend our footprint across Pakistan, so that Pakistanis can receive money conveniently at over 8,200 cash pickup locations and into 14.5 million mobile wallets.”