KARACHI: Remittance is a significant source of foreign reserves for Pakistan, and any decline in its volume can severely impact the country’s economic stability.

To sustain the declining remittance inflows to Pakistan that have become a major cause of concern for the country’s economy, ACE Money Transfer, a UK-based growing remittance provider, and Bank Al Habib, one of the leading commercial banks in Pakistan, have announced another joint campaign.

The two partners offer colossal cash rewards combining two bumper prizes of Rs 1 crore and 91 prizes of Rs 100,000 each. Overseas Pakistanis residing across the UK, Europe, Canada, Australia, and Switzerland can win these rewards simply when they send money to Pakistan via ACE Money Transfer’s mobile app or website to any Bank Al Habib account or receive as cash from any of the 1080+ Bank AL Habib branches across Pakistan, until June 30, 2023.

Rashid Ashraf, CEO of ACE Money Transfer, said, “We heartily appreciate the overseas Pakistani community that always extends its best efforts and plays a vital role in the country’s economic growth. Our collaboration with Bank AL Habib, offering the most sought-after services and excellent cash prizes, aims to encourage overseas Pakistanis to transfer more remittances through regulated channels.”

The article, originally published May 26, was updated on June 7 to include the web address in the third paragraph

Copyright Business Recorder, 2023