ACE Money Transfer, a global leader in the remittance industry, has been recognised by the State Bank of Pakistan (SBP) with a prestigious award for being the Fourth Largest Global Fintech by Remittance Volumes to Pakistan, reaffirming its position as a key driver of Pakistan’s remittance sectors.
The award was presented at the 4th Pakistan Remittance Summit 2024 held in Rome, Italy, on 28th Nov 2024, attended by leading industry figures and global financial stakeholders.
Being a global fintech, ACE Money Transfer has been at the forefront of promoting legal remittance channels and bolstering the country’s economy through formal financial flows. This recognition from the State Bank of Pakistan highlights the company’s expanding impact and its dedication to innovating secure, cost-effective, and efficient remittance solutions for millions of overseas Pakistanis.
Pakistan remains the world’s fifth-largest recipient of remittances, with funds sent by expatriates playing a critical role in economic stability. Observing a substantial 24% increase, remittances to Pakistan reached $3.052bn in October 2024. ACE Money Transfer’s innovative approach, powered by trust and technology, has established it as a vital enabler of these inflows, connecting families and driving progress.
“This prestigious award from the State Bank of Pakistan is a testament to supporting millions of Pakistani and other expats worldwide, helping them securely transfer funds home to ensure a prosperous life for their loved ones,” said Rashid Ashraf, CEO of ACE Money Transfer.
“We are committed to contributing more to Pakistan’s economy and providing innovative solutions to the whole world, bringing Pakistan to the center of the world through advanced technological remittance solutions.”
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