National Bank of Pakistan has signed deals with two Saudi banks for home remittance delivery to Pakistan. Under the arrangements, Al-Rajhi Bank, the largest Islamic Bank in the world through its Tahweel Al-Rajhi Remittance Centers and Bank Al-Bilad through its Enjaz Remittance Centers will send Pakistan bound home remittances to NBP for onward delivery to the beneficiaries; it was stated in a press release issued here on Thursday.
The President, NBP, Ali Raza said that both these banks are the top two banks in the remittances business in Saudi Arabia and having remittances arrangements with them are likely to boost remittances to Pakistan.
In a very short span of time, NBP has made major structural changes and has completely revamped NBP's home remittances set-up with the ultimate goal to provide value added, fast, reliable and convenient services to the customers. In recent months, remittance delivery has shown remarkable growth despite recent global financial crisis due to the strong initiatives taken by the government.-PR
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