Azimo, a digital money transfer service, has announced the launch of a money transfer service to Pakistan in partnership with HBL, Pakistan’s largest commercial bank. The new service will allow Pakistanis living in the UK, Europe and Australia to send money in minutes, according to a release. Azimo says that remittances to Pakistan have “soared” generating a record-breaking volume of global remittances in 2020, with $7.1 billion going into the country during the third quarter of the year alone.
Richard Ambrose, Azimo CEO said the last year has been particularly tough for migrant workers, many of whom fill crucial roles in healthcare and other frontline services.
“It is not acceptable for banks and high street providers to make vast profits at their expense, while investing nothing in improving remittance delivery times,” said Ambrose. “Faster, affordable remittances put money back in the pocket of hard-working people and their families overseas. Azimo is on a mission to make instant transfers the industry standard for remittances. This ultra-fast service to Pakistan is another step on that journey.”
Azimo explains that customers may choose to send money to any bank account in Pakistan, or to any branch of HBL for collection. The recipient of a cash pick-up transfer only has to show their CNIC and transfer number to claim the money.
Faisal N. Lalani, Head – International Banking at HBL, commented:
“This alliance enables Azimo customers to receive remittances using HBL’s extensive network of over 1,700 branches across Pakistan. This partnership will open up new avenues for growth and enable customers to make transactions with ease and convenience anywhere in Pakistan. HBL firmly believes in supporting Non-Resident Pakistanis by providing them seamless remittance service, contributing to this key pillar of Pakistan’s economic engine.”