Bank Alfalah and Ria Money Transfer (“Ria”), a global leader in international money transfer and payment services, have partnered to offer money transfer payout services in Pakistan.
This partnership allows Ria customers from all over the world to send money to their beneficiaries in Pakistan, with greater convenience for their family and friends who can now collect cash in minutes from more than 600 Bank Alfalah branches spanning over 200 cities across Pakistan. Bank Alfalah account holders can also receive funds directly to their bank account.
Atif Bajwa, President and CEO of Bank Alfalah said, “At Bank Alfalah, we find new and better ways to take our customers forward and we do this by understanding their evolving needs and enhancing our service capabilities to meet those needs. The foreign remittance market has been growing consistently over the years and Bank Alfalah’s partnership with Ria will allow us to grow our remittance outreach and enhance our service options.”
Juan Bianchi, President and CEO of Ria Money Transfer added, “Our agreement with Bank Alfalah allows Pakistanis living abroad to send money to their families and loved ones through thousands of Ria locations worldwide. We’re pleased to begin our partnership with Bank Alfalah to provide an alternative and affordable service which seeks to benefit Pakistani expatriates and their beneficiaries.”
Millions of Pakistanis live outside their country of birth with the majority residing in the Middle East. According to the World Bank, remittance inflows to Pakistan totalled $17.1 billion in 2014 according to statistics available at Migrant remittance inflows, World Bank, April 2015.