Newsgate360 – Dubai: Customers in Pakistan can now receive money at over 1,400 MCB Bank branches in both major cities and remote areas of Pakistan, following a collaboration between Western Union, a leader in cross-border, cross-currency money movement and payments, and MCB Bank, one of the leading banks in Pakistan.
Global senders may use Western Union’s digital services in 75 countries plus territories, or the walk-in Agent network across more than 200 countries and territories to send an international transfer.
“Pakistan is an important market for Western Union and we are delighted to collaborate with MCB Bank to boost financial inclusion and offer customers a seamless option to receive money in cash,” said Ali Badreddine, Western Union Country Director for Saudi Arabia, Pakistan, Afghanistan, Sudan and South Sudan. “We believe that when money moves, better things happen. A world of opportunity becomes available to those with economic backing: small businesses grow, a child goes to school, economic aid arrives the moment it’s needed and economies bloom.”
Personal remittances received in Pakistan are an important contribution to the country’s GDP. According to World Bank data, Pakistan was the world’s seventh largest remittance receiver country in 2018. The country also has one of the highest international migration rates, which highlights the importance of offering efficient money transfer services to consumers locally.
“As people move to other countries in search of better employment opportunities, remittances become an important source of family income for many back home. They boost not only the economic growth of the country but also that of the household. We are delighted to offer customers access to money transfer services with Western Union – a brand globally recognized for the speed, reliability, trust and convenience of its services,” said Muhammad Naeem Saigol, Division Head, Transaction Banking Division, MCB Bank.
Western Union has operated in Pakistan for the past 20 years and currently has a network of 9,600 Agent locations across the country.