back Back

Mashreq partners with Bank Al Habib Pakistan to offer free money transfers to Pakistan

By Leandra Monteiro

November 25, 2022

  • Bank Al Habib Pakistan
  • Cross Border Payments
  • Free Remittance
Share

Mashreq Bank, Mashreq, Bank Al Habib Pakistan Mashreq Bank, one of the leading financial institutions in the UAE, has signed a strategic partnership with Bank Al Habib Pakistan to offer free remittance transfers from the UAE to Pakistan.

The collaboration will support Mashreq’s faster cross border payment product, QuickRemit, which was originally launched in 2017. Customers using the application will not be charged remittance fees when sending money to Pakistan.

Mashreq customers can also enjoy unprecedented benefits and significant cost savings, while sending instant money transfers at their convenience, from their homes – via Mashreq’s online and mobile banking channels, in a safe and secure manner.

Statistics from the State Bank of Pakistan revealed USD 474.3 million was sent in remittance payments from the UAE to Pakistan in September this year.

Kartik Taneja, Head of Payments, Mashreq, said, “Remittance payments play a vital role for the huge Pakistani diaspora living and working in the UAE as they send essential funds back home. We are delighted to partner with Bank Al Habib Pakistan to offer money transfers through our QuickRemit application, making the process as simple, seamless and secure as possible.”

Aun Ali, Group Head – Business of Bank AL Habib said, “I would like to congratulate both Bank AL Habib and Mashreq Bank team on this affiliation, which will help both organizations in serving Pakistani expatriates for instant, simple and secure transaction processing. Bank AL Habib continues to play a vital role in routing remittances through official channels and feels immense pleasure to provide our services in collaboration with Mashreq.”

Previous Article

November 25, 2022

Moss partners with Klarna Kosma to boost European expansion

Read More
Next Article

November 25, 2022

Fingerprints and Infineon collaborate for biometric payment cards

Read More






IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Financial Cloud integrates GoCardless for seamless payments in the UK

Read More

Today

AMP’s digital bank for SMBs goes live with Starling’s Engine

Read More

Today

Faysal Bank selects Alliance Network to boost digital payments in Pakistan

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2024
Know More