Pakistan added to Emirates Islamic QuickRemit money transfer routes

Pakistan added to Emirates Islamic QuickRemit money transfer routes
13.08.2018 10:07 am

Pakistan added to Emirates Islamic QuickRemit money transfer routes

Banking

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced that its 60 second online fund transfer service ‘QuickRemit’ is now available for remittances to Pakistan. 

The Bank has launched the service to coincide with Pakistan’s Independence Day. 

Emirates Islamic customers will be able to conduct QuickRemit transfers to any Faysal Bank account in Pakistan in less than 60 seconds, and transfers to other Pakistan banks within one hour. Faysal Bank is a leading bank with a footprint of over 365 branches across 100 cities in Pakistan. Emirates Islamic customers can avail the QuickRemit service via the bank’s online and mobile banking channels, without any fees and at competitive exchange rates. 

Commenting on the launch of QuickRemit to Pakistan, Wasim Saifi, Deputy CEO - Consumer Banking and Wealth Management, Emirates Islamic said: “Extending our QuickRemit transfer service to Pakistan enhances our value proposition to one of our key customer segments. Pakistan and UAE share long-standing trade ties, with a high number of Pakistani expatriates residing in the UAE. With the QuickRemit service, we now offer customers a safe, quick and seamless platform to send money back to Pakistan.”

Saifi also announced that the bank is working to extend QuickRemit services to other countries and provide this facility to customers from other nationalities. The bank recently announced the launch of the QuickRemit service to India, tying up with HDFC Bank for 60-second transfers.

Pakistan is among the top three countries receiving the highest remittances from the UAE and the rest of the world. According to State Bank of Pakistan (SBP), Pakistan received USD 19.3 billion in remittances from abroad in the 2017 fiscal year.

Related News

UK Banks look to cut costs and get ahead in digital race

With the banks annual reporting season well underway in the UK, analysts are expecting a combined profit of £23.9 billion for the four largest players in the last year – an... Read more »

ClearBank supported by Tide awarded £60 million grant from RBS Alternatives Remedies Package

Tide, the SME-only leader in digital challenger banking, is delighted to announce that its partner, ClearBank, a next-generation clearing bank, has been awarded a grant from... Read more »

Banking Competition Remedies Ltd (BCR) announces the awards of Pool A Capability and Innovation Fund

The Board of Banking Competition Remedies Ltd (BCR) today announces the results of the Capability and Innovation Fund Pool A grant process.

The Capability and Innovation... Read more »

Lunar Way taps Norway market

Lunar Way continues its expansion and launches in Norway. This happens only a week after the fintech shared the news that they received €13 million in funding to take on the... Read more »

Celebrity Awards entering the Digital Banking space!

UK-based fintech Arro Money is incredibly excited to announce the recent signing of a letter of intent with global media, events and talent specialist Invincible Group.

... Read more »

Study: Consult Hyperion reveals increasing cost and complexity of business banking

A new report from identity analyst Consult Hyperion  has revealed the five biggest challenges currently facing financial... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App