UAE-based Emirates NBD has launched a new money transfer platform, 60 second DirectRemit service, in Pakistan.
The direct bank transfer service will allow Emirates NBD customers to send money, in Pakistani Rupee (PKR) to Faysal Bank accounts in Pakistan within 60 seconds, and transfers to other Pakistan banks within one hour with zero remittance fees.
The money transfer service to Pakistan will be available to customers of Emirates NBD through online banking channels.
Emirates NBD general manager of retail banking and wealth management Suvo Sarkar said: "Remittances by the Pakistani expatriate population in the UAE is the second largest source of remittance inflow to Pakistan, so the introduction of the DirectRemit service is an excellent value proposition to our Pakistani expatriate customers.
"We are confident that our Pakistani customers will take advantage of this unique facility, which enables them not only to transfer funds to their beneficiaries back home almost instantly, but also to pay their bills, insurance premiums and loan payments, through their bank accounts in Pakistan."