NBP Makes a Drama to Increase Awareness About Illegal Money Transfers

National Bank of Pakistan (NBP) has just launched a docudrama “Hundi ko lagao kundi” to create awareness against illegal money transfer. This Docudrama is the part of NBP’s recent campaign to inform expatriates about the benefits of money transfer via banking system and the negative impacts of hundi / Hawala system.

This campaign was formally launched in a ceremony held a local hotel in Karachi on Wednesday. Deputy Governor State Bank of Pakistan (SBP)  Jameel Ahmed, was the Guest of Honor. The event was presided over by President & CEO NBP, Saeed Ahmad. Senior officials of SBP and NBP were also present at the event.

This docudrama is targeted towards the Pakistani diaspora, especially those residing in UAE, Saudi Arabia and other GCC countries.

NBP will play this drama at workers camp in target countries and also utilize social media for this. This will help in educating the masses about the advantages of sending remittances through legal banking channels. For this, NBP provides their services through “Foree Remittances”.

Jameel Ahmad said that workers’ remittances are a life line for our external account balance.

“ It is indeed heartening to note that focused efforts of all stakeholders resulted in an increase in home remittances by 13.2% during the first two months of FY18, after a fall of 3.1% in FY17.  There is a need to maintain this momentum and positive growth trajectory in the coming months,” – Jameel Ahmed

Jameel Ahmad went on to add that Pakistani banks need to focus not only on the traditional corridors of remittances but also explore untapped non-traditional corridors.

“Banks should improve their service levels for remittance recipients. Similarly, introduction of innovative remittance products is required to attract new customers. Further, enhancement of infrastructure and systems and capacity building of human resources should be on-going tasks to improve efficiency,” Jameel added.

Saeed Ahmad in his speech said that the hundi / Hawala is the biggest challenge facing the overall remittance business of Pakistan. This system is used by a large number of overseas Pakistanis due to lack of proper information.

“This affects the country gravely. If all remittances come via banking channels, our forex reserves will increase resulting better financial stability and improved standing of Pakistan in the International market.”

He further added that the docudrama launch is not just about increasing the business of National Bank of Pakistan but the motive behind it is much greater than that. The idea is whatever money is coming into the country is routed through legal channels so Pakistan as a country can fully benefit.

“National Bank of Pakistan, has embarked upon developing services by using the latest in banking technology. For this purpose, a new Group by the name of “Payment Services and Digital Banking” has been established at NBP.”