Bank Alfalah, a private bank in Pakistan, has teamed up with Ria Money Transfer to provide money transfer payout services in Pakistan.
The deal will allow Ria customers from across the globe to transfer money to their beneficiaries in Pakistan with greater convenience for their family and friends.
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Customers can collect cash in minutes from over 600 Bank Alfalah branches across 200 cities across Pakistan.
Also, Bank Alfalah account holders can also receive funds directly in their bank account.
Bank Alfalah president and CEO Atif Bajwa said: "The foreign remittance market has been growing consistently over the years and Bank Alfalah’s partnership with Ria will allow us to grow our remittance outreach and enhance our service options."
Ria Money Transfer president and CEO Juan Bianchi said: "Our agreement with Bank Alfalah allows Pakistanis living abroad to send money to their families and loved ones through thousands of Ria locations worldwide.
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By GlobalData"We’re pleased to begin our partnership with Bank Alfalah to provide an alternative and affordable service which seeks to benefit Pakistani expatriates and their beneficiaries."
A report from the World Bank estimates that remittance inflows to Pakistan totaled $17.1bn in 2014.
