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Sunday, April 14, 2024

HBL partners with ACE Money Transfer to promote regulated home remittance inflows

This campaign will drive further growth in remittances through legal channels to support Pakistan’s economy.

HBL, Pakistan’s largest bank, teams up with ACE Money Transfer, a leading UK remittance company, to boost regulated home remittances by offering a Toyota Fortuner and 10 iPhone 14 Plus as part of the partnership.

Pertinent to mention that ACE offers impeccable online money transfer services to millions of expatriates with an extensive network of 375,000+ locations spread across 100+ countries worldwide.

Home remittance inflows to Pakistan have seen a 19% year-on-year decline, recording a low of $2.04 billion in December 2022. Expats, for their remittance needs, opted for other channels, including Hawala/Hundi.

Read more: HBL & BACQ team up under SBP Champion Bank Initiative

Promoting the narrative of “Hundi Say Inkaar, Pakistan Say Pyaar”, the campaign offers Pakistani expats in the UK, Europe, Canada, Australia, and Switzerland to benefit from exceptional exchange rates. They also will get a chance to win one of 10 iPhone 14 Plus or a brand new Toyota Fortuner by sending money before 15 March via ACE Money Transfer as a bank deposit or for cash pickup from any of the 1700+ HBL branches across the country.

Commenting on the partnership, Rashid Ashraf, CEO – ACE Money Transfer, said, “We are thrilled to launch yet another campaign with our trusted partner in Pakistan, HBL. The country needs the help of its expat community now more than ever, and initiatives like these are an opportunity for them to curb the crisis at hand.”

Read more: HBL offers Pakistan’s first digital car financing facility

Commenting on the partnership, Faisal N. Lalani, Head International Banking – HBL, said, “Our collaboration with ACE Money Transfer will directly benefit clients to conveniently collect remittances from HBL’s extensive distribution network across Pakistan. This campaign will drive further growth in remittances through legal channels to support Pakistan’s economy.”