- Pakistan’s Al Baraka Bank Ltd will widen Western Union’s reach in the country
- Pakistan receives one of the largest amounts in remittances globally per year
- Western Union has over 9,000 agent locations in Pakistan
Al Baraka Bank Ltd of the Al Baraka Banking Group (ABG) is now a Western Union partner giving Pakistani consumers more options when it comes to receiving and sending money abroad. With the country receiving millions of dollars in remittances per year, Western Union’s expansion in the country is a welcome development to households who rely on international money transfers from family members living and working overseas. All 188 Al Baraka Bank locations will now be able to process Western Union transfers, in addition to the over 9,000 agent locations across the country.
Western Union Country Manager for Pakistan and Afghanistan Asad Iftikhar said: “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.”
He added. “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.”
According to the World Bank, Pakistan is among South Asia’s top performers as its economy continues to grow. The World Bank’s Migration and Remittances Brief also notes that the country is one of the biggest recipients of cross-border payments based on 2017 data.
Al Baraka Bank CEO Ahmed Shuja Kidwai said that the bank is “pleased as well as privileged to be working with Western Union”.
He added: “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.”
For more information, read our Western Union review today on FXcompared.com.
