UAE: Pakistani Expats Urged to Use Official Channels for Remittances
Ambassador Faisal Niaz Tirmizi urges using formal banking channels, with QuickPay launched for easy bill payments
Pakistan’s Ambassador Urges Expats to Use Official Channels for Remittances via QuickPay
Pakistan’s ambassador to the UAE has asked his countrymen to use official channels for remittances and other financial transactions to support their economy.
During the launch of online payment service platform QuickPay, Ambassador Faisal Niaz Tirmizi strongly urged the community members to use proper banking channels as it would ensure transparency in the economic system.
The UAE has traditionally been one of the largest sources of remittances to the South Asian country, with 1.7 million Pakistanis living and working in the emirate.
Workers’ remittances rose 3.5 per cent in the July-April period this year, official figures showed, on the back of a recovery in the global economy and better economic activity in key remittance routes such as the US, UK and EU. .
The share of remittances from Saudi Arabia was 24.2 percent ($5.1 billion), UAE 17.4 percent ($3.7 billion), UK 15 percent ($3.2 billion), US 12 percent ($2.5 billion), and other GCC countries 10.8 percent. ($2.3 billion), the European Union 12.2 percent ($2.6 billion) and others 8.4 percent ($1.8 billion).
Remittances from the United Arab Emirates are expected to increase over the years as more than 230,000 Pakistanis migrate from the country in search of greener pastures by 2023.
Emirates was the second best destination for the Turks community last year, followed by Village and Overseas Employment (BE&OE) and Overseas Employment Organization (OEC)..
Support for foreigners
Digital solutions make financial transactions easier for everyone, Tirmizi said, adding that digitization of the economy will be transformative for Pakistan.
The Ambassador said that such efforts are being made to support the diaspora community.
Quickpay founders Saqib Ali Qazmi and Arbab Ali Khan said the app was launched to help not only Pakistanis but also other people living in the UAE. This allows users to pay UAE and Pakistani bills using their UAE issued cards.
