STATEMENT: HBL and ACE Money Transfer collaborate to promote the regulated entry of remittances at home

(Information sent by the signatory company).

STATEMENT: HBL and ACE Money Transfer collaborate to promote the regulated entry of remittances at home

(Information sent by the signatory company)

MANCHESTER, England, Feb. 22, 2023 /PRNewswire/ -- HBL, Pakistan's largest bank partners with ACE Money Transfer, one of the UK's leading remittance companies, to boost regulated remittances to doorsteps , offering a Toyota Fortuner and 10 iPhone 14 Plus as part of the partnership.

Domestic remittance inflows to Pakistan have experienced a 19% year-on-year decline, recording a low of $2.04 billion in December 2022. Expatriates have turned to other channels, including Hawala/Hundi, for their remittance needs.

Promoting the narrative of "Hundi Say Inkaar, Pakistan Say Pyaar", the campaign offers Pakistani expatriates in the UK, Europe, Canada, Australia and Switzerland to benefit from exceptional exchange rates. They will also have a chance to win one of the 10 iPhone 14 Plus or a brand new Toyota Fortuner by sending money before March 15 through ACE Money Transfer as a bank deposit or for cash pickup at any of the more than 1,700 HBL branches in the whole country.

Rashid Ashraf, CEO of ACE Money Transfer, said, "We are delighted to launch another campaign with our trusted partner in Pakistan, HBL. The country needs the help of its expatriate community now more than ever, and initiatives like this are a opportunity for them to put a stop to the current crisis."

Faisal N. Lalani, Head of International Banking at HBL, said: "Our partnership with ACE Money Transfer will directly benefit customers, who will be able to conveniently collect their remittances through HBL's extensive distribution network across Pakistan. This campaign will drive further growth of remittances through legal channels to support Pakistan's economy."

For more information about the offer, visit:

About ACE Money Transfer

ACE Money Transfer (trade name "Aftab Currency Exchange Limited"), based in Manchester, UK, is a growing remittance provider. It offers flawless online money transfer services to millions of expatriates with a vast network of more than 375,000 locations spread across more than 100 countries around the world.

About HBL

HBL was the first Pakistani commercial bank established in 1947, renowned for its innovation in customer-focused financial services. Over the years, HBL has expanded its branch network and has remained the largest bank in Pakistan with more than 1,700 branches, more than 2,200 ATMs, more than 61,000 Konnect by HBL (banking platform without branches) and more than 52,000 QR points that serve more than 32 million customers worldwide.


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