QuickRemit is a service launched by Emirates Islamic to transfer funds online in Pakistan in just 60 seconds. Those who want to sent remittances to Pakistan can easily and quickly do it via QuickRemit.
The customers of Emirates Islamic will be able to transfer money through QuickRemit to any Faysal Bank account in Pakistan. The transfer procedure will take less than 60 seconds. If remittances are transferred to other banks in Pakistan, it will be done within an hour.
Pakistan is among the top three countries in the world, receiving the most remittances from all over the world, especially UAE.
Faysal Bank is one of the leading banks in Pakistan with more than 365 branches spread over 100 cities in Pakistan.
The service can be availed through Faysal bank’s online site. The offer is free of charge.
The Deputy CEO Wasim Saifi, 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.”
Saifi announced that the bank is considering extending the QuickRemit services to other nations. Presently it was launched in India.
As for the remittances that Pakistan received in FY2018, as per State Bank of Pakistan (SBP) it accounted to $19.622 billion. In last fiscal year, the remittances received were $19.351 billion. So in FY18, the remittances were 1.4% higher.