Pakistan’s first Islamic bank Meezan Bank has partnered with Malaysia’s IME Remit for home remittance payments.
Under the deal, Meezan Bank will provide remittance payments through its network across Pakistan.
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The accord will enable Pakistani citizens residing in Malaysia, Nepal and UK to transfer money to their families and resident Pakistanis receive inbound remittances via IME Remit at any branch of Meezan Bank, in cash as well as remittance transfer in any bank account in Pakistan.
Commenting on the agreement, Meezan Bank president and CEO Irfan Siddiqui said: "This initiative will also encourage the increase of home remittances through Islamic banking systems, promising timely and prompt delivery to the beneficiaries through highly secure channels, thus contributing towards our Vision of establishing ‘Islamic banking as banking of first choice."
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By GlobalData
