Eliminating illegal channels: Remittances could be doubled

ISLAMABAD: Remittances can be doubled by adopting different strategies, besides elimination of the Hundi system, said National Bank of Pakistan Global Home Remittance Head Irtiza Kazmi.Speaking at the 5th Corporate Ambassador Awards ceremony, Kazmi said NBP was adopting an innovative approach and technology to attract maximum foreign exchange in the shape of remittances. Remittances could be boosted by creating a technologically advanced and user-friendly ecosystem, which was the need of the hour, he said, adding people sending money from abroad were usually encouraged by the convenience and better rates offered by the Hundi/Hawala operators and they needed to be made aware of the negative effects of such a system.

Published in The Express Tribune, July 29^th, 2016.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.