NBP the best in handling remittances


Lahore (PR): National Bank of Pakistan (NBP) takes pride in offering the best facilities to the overseas Pakistanis for sending the hard earned money to their near and dear in Pakistan. NBP has over 35 leading overseas remitting partners extending NBP’s “Foree Remittance Services” to remitters in their respective countries. This dedicated service is aimed at facilitating Pakistanis and discourage the use of illegal Hawala/Hundi channels, this this was stated by Mr. Khalid Bin Shaheen Group Chief/SEVP Global Home Remittance in a session arranged by NBP Regional Office at Sargodha.

NBP, being ‘Bank of the Nation’ is fully cognizant of the fact home remittances play a key role in building foreign exchange reserves and overcoming any imbalance due to huge imports and paltry exports. Remittances are the second largest source of foreign exchange after exports. NBP has become a role model for other banks if one talks about effective and efficient delivery of funds to the families of overseas Pakistanis.

Mr. Khalid Bin Shaheen visited Sargodha Region during an advocacy campaign of increasing the volume of home remittance through banking channel. He described the role of Home Remittance Group in motivating the workers abroad through visits in their labor camps and making agreements with various companies. A s result workers in Saudi Arabia, UAE and other Middle East countries send money through NBP. Mr. Khalid Bin Shaheen efforts include the launching of a wonderful product that is Foree remittance account and Foree remittance card. Hence the customers need not to visit the branch but money can be taken form ATM either of NBP or 1 Link.

Session being interactive was quite useful and motivating as practical problems along with their possible solution were discussed. Group chief thanked the Regional Head Sargodha Mr. Imdad Hussain for organizing the session which was attended by branch managers and relevant staff involved in the payment of home remittance. Branch managers were convinced that CASA can be built by opening more and more foree remittance account. Thus manager will be getting money automatically without any hassle of marketing.

NBP has established the first dedicated, extensive and efficient compliant handling system for home remittances to address queries/grievances of remitters/beneficiaries. Home remittance is the money sent by expats to their loved ones at home for family maintenance. Home Remittances from overseas Pakistanis play an extraordinary role in the economic development of Pakistan and it is far more important than official development assistance or borrowing from international lenders, he added. 

Mr. Imdad Hussain, Regional Head Sargodha, elaborated the performance of NBP during year 2014 and said Mr. Shaheen is a house hold name for his long services for channelizing remittances to Pakistan Through legal channel. He and his team assured Group Chief that achievement of target for home remittance would be their top most priority.