Western Union expands with Al Baraka Bank
KARACHI: Consumers in Pakistan now have more options to receive international money transfers, thanks to an alliance between Western Union, a leader in cross-border and cross-currency money transfer, and Al Baraka Bank (Pakistan) Limited.
Full activation of 188 Al Baraka Bank locations in 99 cities of Pakistan will expand Western Union’s retail footprint and enable consumers to receive money in minutes from more than 200 countries and territories. Western Union currently has more than 9,600 Agent locations across Pakistan. Remittances play a crucial role in recipient economies. They not only boost economic growth within the household but also across the economy.
“As people migrate to work abroad and to support their families back home, we continually strive to expand access, making it more convenient for their families to receive Western Union money transfers,” said Asad Iftikhar, Sr. Country Manager, Pakistan & Afghanistan, Western Union. “We are delighted to welcome Al Baraka Bank to our global family of Agents and echo their vision of providing unrivalled service to consumers by giving them increased access to international money transfer channels,” he said.
Pakistan’s economy continues to show strong growth, emerging as one of the top performers in South Asia, according to World Bank. According to the Migration and Remittances Brief by World Bank, Pakistan was one of the top 10 remittance receiving countries in 2017. Personal remittances are a strong contributor to the GDP of Pakistan.
“We are pleased as well as privileged to be working with Western Union to provide money transfer services to our customers nationwide. Our commitment is to continually evolve, providing our customers with the best possible service. We are proud to be providing our customers with access to the speed, convenience and reliability of Western Union,” said Ahmed Shuja Kidwai, CEO, Al Baraka Bank Pakistan.