Al Ansari Exchange, the UAE’s largest money exchange network that provides worldwide remittance and foreign exchange services, has announced that it has tied up with Pakistan’s Tamer Bank, which recently entered into an agreement with Telenor Pakistan, a GSM mobile phone service provider having a network of 20,000 retailer agents across Pakistan. Al Ansari Exchange’s partnership with Tamer Bank will thus facilitate instant money transfer from the UAE to 20,000 payout locations in Pakistan. Pakistani expatriates based in the UAE can visit any of the more than 110 Al Ansari Exchange branches in the country to transfer money instantly.
“Pakistanis represent one of the largest expatriate communities in the UAE, which makes this partnership with Tamer Bank highly significant as it optimally leverages the vast network of Telenor Pakistan. Given that the money transfer is instant, and the recipients in Pakistan can collect the money even late in the night will be highly advantageous to both the sender and receiver. This tie up also underlines our ongoing commitment to identify customer requirements and respond with timely and cost-effective solutions,” said Rashed Ali Al Ansari, General Manager, Al Ansari Exchange.
Remittances from the UAE to Pakistan have been seeing a steady increase, with recent figures showing the value of remittances in 2011 amounting to around USD 2.2 billion. Factors such as the depreciating value of the Pakistani rupee, increase in worker migration and the improved skill levels of migrating workers have contributed to the increase in remittances to the country.