In order to ensure quick and easy money transfer to Pakistan, Emirates Islamic has announced a 60 second online fund transfer called QuickRemit. Through the service, users will be able to transfer remittances to any Faysal Bank account in Pakistan in less than 60 seconds, and transfers to other Pakistan banks within one hour.
This comes as a welcome move as Pakistan is one of the largest receivers of remittances from the UAE and around the world. State Bank of Pakistan (SBP) also recently stated that Pakistan has received $19.622 billion in remittances from abroad in the Fiscal Year 2018.
According to a statement by the bank, 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.
Furthermore, Wasim Saifi, deputy CEO Consumer Banking and Wealth Management, Emirates Islamic speaking on the occasion 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.”