NBP sets up 'Worker's Foree Remittance Account'

National Bank of Pakistan (NBP) has setup "Worker's Foree Remittance Account" counter at the office of the Protectorate of the Emigrants Karachi to facilitate the overseas workers for sending their earnings to their relatives in Pakistan. This counter will facilitate the nationals going abroad, for job opportunities, to open an account with NBP to be used for sending home remittances to their families.
Special Assistant to the Prime Minister for Overseas Pakistanis Sayed Zulfiqar Bukhari on Wednesday formally inaugurated the facility of Worker's Foree Remittance Account at the office of the Protectorate of the Emigrants Karachi. While, addressing as chief guest at the launching ceremony, special assistant to PM said that the government is taking all possible measurers to increase the inflows of home remittances sent by overseas Pakistanis and setup of Worker's Foree Remittance Account facilitation counter is also a part of these efforts.
He said that NBP's this facility will help the overseas workers to sent home remittances in a very easy way through any foreign bank. With the joint efforts of inflows of home remittances are increasing and presently some $20 billion annually are arriving through legal channels, he added. However, he said that it is also important to have transparency and efficiency in financial transactions and this product will ensure transparent transactions and remittances, he added.
Zulfi Bukhari also mentioned that labours working internationally are needed to be supported and the government intends to enable them to work with dignity and respect. President NBP Arif Usmani briefed about the Worker's Foree Remittance Account counter and said that this is one step solution for overseas Pakistanis who want to consistently remit finances into Pakistan. He said that this is the step toward providing convenience to the overseas Pakistani for home remittances.
State Bank of Pakistan (SBP) Executive Director for Banking Policy and Regulations Group Syed Irfan Ali was also present on the occasion.