Meezan Bank Limited (MBL), Pakistan’s first and largest Islamic commercial bank, and Western Union, world leader in money transfer services, have entered into a collaboration under which MBL will provide the Western Union Money Transfer Service through its network of 223 online branches in 63 cities across Pakistan. An announcement to this effect was made in a MBL statement on Monday. It said that the MBL is the first Islamic bank in Pakistan to introduce this cross border inbound remittance service through Western Union.
This arrangement will enable Meezan Bank to take advantage of Western Union’s significant presence in over 200 countries and territories around the world. The statement further pointed out that the agreement will enable expatriate Pakistanis to send money to their families from around the world and their families will be able to receive this money at any branch of Meezan Bank, in cash, quickly, without requiring a bank account and without having to pay any charges.
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