Emirates NBD expands 60 seconds DirectRemit platform to Pakistan

1 Min | 04 April 2015

Fastest remittance service in UAE now available for India, Philippines and Pakistan

Dubai, April 4, 2015: Emirates NBD, a leading bank in the region, announced today the launch of its 60 second DirectRemit service to Pakistan. DirectRemit, a money transfer platform that is considered the fastest in the UAE, allows Emirates NBD customers to remit money to Pakistan within a minute with zero remittance fees.

The direct bank transfer service enables Emirates NBD customers to perform Pakistani Rupee remittances to Faysal Bank accounts in Pakistan in less than 60 seconds, and transfers to other Pakistan banks within one hour. Faysal Bank is a leading bank with a footprint of over 270 branches across 80 cities in Pakistan. Customers of Emirates NBD can avail DirectRemit service to Pakistan via online banking channels.

Commenting on the launch of the service, Suvo Sarkar, General Manager – Retail Banking and Wealth Management, Emirates NBD, said: "Remittances by the Pakistani expatriate population in the UAE is the second largest source of remittance inflow to Pakistan, so the introduction of the DirectRemit service is an excellent value proposition to our Pakistani expatriate customers.

"We are confident that our Pakistani customers will take advantage of this unique facility, which enables them not only to transfer funds to their beneficiaries back home almost instantly, but also to pay their bills, insurance premiums and loan payments, through their bank accounts in Pakistan," Sarkar added.

Money flows from the UAE are among the highest to Pakistan and other countries in South East Asia. According to recent World Bank estimates, Pakistan remittances amounted to US $17 billion from around the world.

The DirectRemit service is seen as a key component of Emirates NBD’s value proposition to its account holders. Since the launch of DirectRemit in 2014, the service has proven to be extremely successful, with an increasing number of the bank’s customers remitting money to India and Philippines via DirectRemit.

more app