Fintech PR

ACE Money Transfer and HABIBMETRO Partner to Promote Legal Remittance Channels

Published

12 months ago

January 8, 2024

MANCHESTER, England, Jan. 8, 2024 /PRNewswire/ — ACE Money Transfer, a leading global money transfer company, and HABIBMETRO, one of Pakistan’s leading banks, have joined forces to promote the use of legal channels to boost remittance inflows to Pakistan.

Informal channels like hawala/hundi (kerb market) cause Pakistan to lose substantial foreign funds every year as more overseas Pakistanis send money home through unregulated methods. ACE Money Transfer and HABIBMETRO have stepped forward to support the Pakistan government’s key initiatives to curb the black market, including but not limited to the recent countrywide crackdown against illegal routes for remitting money and enhancing the output of the Pakistan Remittance Initiative (PRI).

The campaign, titled “Rakhain Aapko Befikar,” offers overseas Pakistanis fee-free* money transfers to Pakistan from the UK, Europe, Canada, and Australia, which are convenient, instant, and secure. Moreover, until the 15th of February, they also have an exciting opportunity to win one of three brand new Toyota Grande cars for sending money or transferring funds for cash pickup and HABIBMETRO accounts through ACE Money Transfer to any of the 500+ HABIBMETRO branches across Pakistan (T&Cs apply).

*Transactions over 100 USD bear no cost.

“We are delighted to partner with HABIBMETRO to launch this exciting campaign,” said Aftab Ashraf, the Chairman of ACE Group of Companies. “Overseas Pakistanis play a vital role in Pakistan’s economy, and we want to encourage them to use legal channels for sending money home. This campaign will not only reward them for doing so, but it will also help boost Pakistan’s foreign exchange reserves and support economic growth.”

Mr. Khurram Shahzad Khan – President & CEO of HABIBMETRO, added, “HABIBMETRO is committed to providing customers with convenient and secure ways to send and receive money. We believe that our partnership with ACE Money Transfer will make it easier for overseas Pakistanis to send money home through legal channels, and we are confident that the campaign will be a success.”

About ACE Money Transfer

ACE Money Transfer, based in Manchester, the UK, is an experienced remittance provider with 20 years of history of providing impeccable money transfer service to Pakistani expatriates. With an extensive network of 375,000+ locations spread across 100+ countries worldwide, it surpassed £1 billion in global remittance in 2023.

About HABIBMETRO

HABIBMETRO is a subsidiary of Habib Bank AG Zurich, which operates in 11 countries across four continents. As a trusted banking institution in Pakistan, HABIBMETRO is serving millions of customers through a nationwide network of over 500 branches in more than 200 cities.