This sea change in the approach is being manifested here today when we are launching Pakistan Remittance Initiative with a view to discharge government responsibility to provide safe, cheap, and efficient remittance delivery channels to overseas Pakistanis to send their funds back home,' 1 he said and added that the real motivation is not the collection of additional foreign exchange rather to provide for facilitation to the remitters
and their families back home.
In the first phase we are initiating the insurance cover with Indian remitters
in the UAE only and very soon we will extend it to other nationalities as well," added Giriyan.
Since these remitters
are generally not aware of the various types of risks involved in such transfers a high capital would encourage exchange companies to adopt proper business procedures/systems to minimize the risks".
Agents are also trained to screen money remitters
and try to discourage those that obviously deal with strangers (i.
The company services also include India corridor, credit to SBI accounts through SBI Express within hours with a confirmatory SMS to the beneficiary in India and remitter
in Oman; credit to State Bank of Travancore accounts within hours with an SMS confirmation to the remitter
; credit to the accounts of all banks in India within 24 hours through
For cross-border money transfers between the UAE and any IBAN country, the IBAN of both remitters
and senders is required.
AUSTRAC has today taken action to suspend the registration of Bisotel Rieh Pty Ltd, a remitter
based in Sydney.
He said that arrangements have been made for keeping check on the capability of the remitter
and purpose of the remitting.
I-Express, available through the ICICI Bank's select partners in GCC, offers the remitter
the option of visiting any partner outlet for instant credit into the beneficiary account maintained with ICICI Bank in India, at no extra cost.
With HDFC IndiaLink, the Company is now offering the following services: Credit to HDFC accounts within hours with a confirmatory SMS to beneficiary in India as well as remitter
in Oman; Credit to the accounts of all public sector and private banks in India within 24-48 hours depending upon RTGS or NEFT transaction with an confirmatory SMS.
Request for Proposal are invited for Common Remitter
Compliance Service Provider for 403(b) and 457(b) Plans (Annual Contract)
The free-of-charge Fast Cash, which ensures instant transfer of funds to the beneficiaries in Pakistan, requires no bank account for either the remitter
or the beneficiary.