KARACHI: Foreign remittances continue to play a significant role in the strategy of the State Bank of Pakistan (SBP) to boost economic growth.
It further said that JS Bank played a key role in this endeavor and facilitated more than one million transactions worth over Rs 23,823 million during the year.
Based on its strong partnership, JS Bank has facilitated overseas Pakistanis around the world, including in the UAE, the UK and the GCC region.
Through the SBP, the bank is also recognized for its leading role in running household remittances.
Basir Shamsi, President and Chief Executive Officer of JS Bank, said: “Our goal is to help millions of Pakistanis abroad who need to make money easy, convenient and convenient for their families and friends in Pakistan.”
“We also seek to support the larger goals of economic growth by increasing the foreign capital of the government and the SBP,” he added.
The government’s supportive policies in terms of extending payments to small remittances under the TT Charges Scheme (free remittance scheme) were also cited as reasons for the increase in legal remittances. JS Bank also invested in campaigns condemning illegal means of money transfer such as hindi and hawala, which created significant awareness throughout the board.
Committed to its role as a catalyst for Pakistan’s development and prosperity, the Bank hopes to continue this journey of success by offering a wide range of value-added financial offerings and services.