Western Union, a leader in cross-border, cross-currency money movement and payments, and MCB one of the leading banks in Pakistan, today announced the launch of Western Union® money transfer services across over 1,400 MCB Bank branches in both major cities and remote areas of Pakistan.
Customers will receive funds today, both from Western Union digital services in more than 75 countries, as well as additional territories and the walk-in agent network of over 550 000 locations in more than 200 countries and territories, from their families and loved ones worldwide.
“Pakistan is an important market for Western Union and we are delighted to collaborate with MCB Bank to boost financial inclusion and offer customers a seamless option to receive money in cash,” said Ali Badreddine, Western Union Country Director for Saudi Arabia, Pakistan, Afghanistan, Sudan and South Sudan. “We believe that when money moves, better things happen. A world of opportunity becomes available to those with economic backing: small businesses grow, a child goes to school, economic aid arrives the moment it’s needed and economies bloom.”
Personal transactions in Pakistan constitute an important contribution to GDP of the country. In 2018, Pakistan was the 7th biggest recipient country, according to World Bank data. In 2018, Pakistan was. The country also has one of the highest rates of international migration, highlighting the importance for consumers locally to offer effective money transfer services.
“As people move to other countries in search of better employment opportunities, remittances become an important source of family income for many back home. They boost not only the economic growth of the country but also that of the household. We are delighted to offer customers access to money transfer services with Western Union a brand globally recognized for the speed, reliability, trust and convenience of its services,” said Muhammad Naeem Saigol, Division Head, Transaction Banking Division, MCB Bank. Western Union has operated in Pakistan for the past 20 years and currently has a network of 9,600 Agent locations across the country.