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Western Union, MCB Bank to boost financial inclusion in Pakistan

Western UnionDenver-based Western Union’s collaboration with Lahore’s MCB Bank has enabled customers in Pakistan to receive money from over 1,400 branches of the bank in major cities as well as remote areas. Western Union provides global cross-border & cross-currency money movement and payment services. Its digital services allow global senders to use it in 75 countries plus territories. Customers even have the option of the walk-in Agent network across more than 200 countries and territories to send international transfers.

“Pakistan is an important market for Western Union and we are delighted to collaborate with MCB Bank to boost financial inclusion and offer customers a seamless option to receive money in cash,” said Ali Badreddine, Western Union Country Director for Saudi Arabia, Pakistan, Afghanistan, Sudan and South Sudan. “We believe that when money moves, better things happen. A world of opportunity becomes available to those with economic backing: small businesses grow, a child goes to school, economic aid arrives the moment it’s needed and economies bloom.”

Pakistan’s MCB Bank operates a network of approximately 1,400 branches locally and abroad. The bank has stated that it has a customer base of over 6 million where 24/7 access to the bank is provided via its internet banking services.

“As people move to other countries in search of better employment opportunities, remittances become an important source of family income for many back home. They boost not only the economic growth of the country but also that of the household. We are delighted to offer customers access to money transfer services with Western Union – a brand globally recognized for the speed, reliability, trust and convenience of its services,” mentioned Muhammad Naeem Saigol, Division Head, Transaction Banking Division, MCB Bank.

Western Union announced its collaboration with Beijing company Du Xiaoman Financial and had launched the Western Union international money transfers to be paid out in real-time into more bank accounts in China. Account payout of any Western Union international money transfer can be directed via the Du Xiaoman Financial mobile app where users can route any money transfer received from across the world into their bank accounts and receive funds in real-time.

 

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