Home Business U Microfinance Bank Limited partners with WorldRemit for instant money transfers to...

U Microfinance Bank Limited partners with WorldRemit for instant money transfers to Pakistan

Leading digital money transfer service WorldRemit has joined forces with U Microfinance Bank for online money transfers to Pakistan.

Pakistanis living in over 50 countries, including the USA, UK, Canada and Australia, can now send money directly from their smartphones via WorldRemit to 190 plus U Microfinance Bank locations across Pakistan.

Remittances play a critical role in the growth of the Pakistani economy. According to the World Bank, 7.6 million Pakistanis living abroad sent over $20 billion in remittances in 2018, accounting for almost 7% of the country’s GDP. WorldRemit is offering customers zero fees on transfers to Pakistan of $210 or over. These remittances can be collected at all U Bank branches.

Kabeer Naqvi, President & CEO U Microfinance Bank, said: “U Bank is committed to the national cause of bringing more international remittances to Pakistan through a formal channel. We aim to serve customers’ families at their home locations and bring sense of security and convenience to them.”

Hamza Islam, Country Director for Pakistan at WorldRemit, comments: “U Bank is a natural partner for WorldRemit, as we share a common goal to offer accessible, convenient financial services to everyday Pakistanis and foster financial inclusion.

The new partnership with U Bank further expands our network in Pakistan, connecting more recipients in urban and rural areas to our award-winning money transfer service”

WorldRemit currently serves almost 4 million customers, completing 1.3 million transfers every month from over 50 countries to over 150 destinations.

U Microfinance Bank is a subsidiary of Pakistan Telecommunication Company (PTCL) and currently operates at more than 195 locations. It offers a wide range of microfinance loans, deposit products, and branchless banking solutions to across the country with presence in 108 cities and rural areas in Pakistan.

Visit the WorldRemit website for more information on how to send money to Pakistan.

Must Read

Ufone offers generous free data ‘Eidi’ on mobile top-ups

: Pakistani telecom operator, Ufone has announced free data ‘Eidi’ on mobile top-ups for its consumers under Eid Recharge Offer. Consumers will receive free...

Mobile Money Adoption Increased during Pandemic by 4%: Karandaaz Survey on COVID-19’s Impact on Financial Behavior

Mobile Money Adoption Increased during Pandemic by 4%: Karandaaz Survey on COVID-19’s Impact on Financial Behavior ISLAMABAD - May 7, 2021: Karandaaz held a webinar...

Zong Launches IDD (International Direct Dial) Mobily Bundles for Saudi Arabia

Islamabad- May 7th, 2021: To double the joys of Eid and enable Pakistanis in Saudi Arabia to connect seamlessly with the loved ones back...

Mobilink Microfinance Bank ONLY Bank in Pakistan to secure ‘Positive Outlook’ PACRA Credit Rating

Islamabad – May 6, 2021: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has registered an extraordinary feat of being the only bank...

Ufone Launches Super Card Max

Islamabad – May 6, 2021: Pakistani telecom operator Ufone, has introduced a new member of the Super Card family, Super Card Max that will...