The State Bank of Pakistan (SBP) Peshawar in collaboration with the Pakistan Remittance Initiative (PRI) organised workshop on 'Home and Remittance Business Roles and Responsibilities' in Peshawar on Wednesday. The PRI is a joint initiative of the State Bank of Pakistan, Ministry of Overseas Pakistanis and Ministry of Finance.
More than 100 participants comprising branch mangers of remittance rich areas of the Khyber Pakhtunkhwa, regional heads of banks and bank officers dealing in foreign exchange attended the workshop. Home remittance is the second largest source of foreign exchange for the country. Owing to its importance for the economy, it is expected from the banking industry to give priority to this business area.
The role and commitment shown by the industry in the recent past, under the auspices of PRI and SBP, to improve upon the remittance services is highly commendable as evidenced by the steady growth of remittances. It is pertinent to mention here that at the moment Pakistan has the highest remittances growth in the world.
In the light of the above, the State Bank of Pakistan (Banking Services Corporation, Peshawar), in collaboration with the PRI, conducted one-day workshop on the subject to provide in-depth information regarding the various aspects of the remittance system and best practices. The participants of the workshop shared views on the issue and set a draft of recommendations for further action in the field.
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