United Bank launches NRP Banking

By Jamil Khan | DUBAI

TO cater for the needs of non-resident Pakistanis overseas, the United Bank Limited (UBL) has launched NRP Banking and became the first Pakistani bank to open a new chapter in the banking history of Pakistan.
The launch ceremony of the UBL NRP Banking for non-resident Pakistanis was held at a local hotel in Dubai on Monday evening.
Wajahat Husain, President and CEO UBL, was the chief guest at the event while senior executives and members of Pakistan Professional Wing and community members were also present.
“More than 8 million Pakistanis are living abroad with the Middle East, Europe and America being the biggest remittance originating region, making Pakistan the 7th large remittance market in the world. Last year, Pakistan received $17 billion remittance in which the UBL through its vast network handled 25 per cent worldwide. “Pakistanis in the GCC countries contributed around 63 per cent of total remittance as UBL was the major source to facilitate around 80 per cent of it,” he said.
As part of the new NRP Banking facility, overseas community members could open a new account at any of 8 branches in the UAE to enjoy a wide range of services including deposit accounts, signature banking, car & home loans, payments of credit cards, mutual funds and access to any stock exchanges or real estate markets in Pakistan. Through the new one-window banking facility, the overseas Pakistanis could manage their loans, household bills and investments in Pakistan through internet and mobile app worldwide.
“UBL’s global network has given us the unique opportunity to offer, products and services that intrinsically suit the financial needs for non-resident Pakistanis. With the launch of this service, we are not only bringing a positive stimulus to the country’s economy but also doing out part in bringing Pakistan closer to our fellow countrymen residing overseas,” he pointed.
-Published in The Gulf Today-Sharjah | June 24, 2015

~ by jamilkhan on June 25, 2015.

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