Corporate corner: Sindh Bank signs agreement with Vowpay

This also means instant transfers, zero fees and more competitive rates of exchange

Press Release December 02, 2016
Wholly owned by the government of Sindh, Sindh Bank had originally planned to sell between 10% and 20% of its shares to the general public through the stock exchange before April.

KARACHI: Sindh Bank and Vowpay signed an agreement to facilitate Pakistanis working abroad for sending their home remittances. Vowpay in co-ordination with Sindh Bank launched an international money transfer app for sending remittances from the United Kingdom to Pakistan. Remittances from other countries of Europe and South Asia will also start soon. The app is available on both iPhone (iOS) and Android mobile. The App provides the option of either pay-out cash facilities or direct account transfers to recipients in Pakistan. This eliminates the need of visiting agents or banks and sends money to loved ones by only a few clicks on the smart phone. This also means instant transfers, zero fees and more competitive rates of exchange. Money will be transferred immediately to the beneficiary’s account in any member bank in Pakistan. In case the beneficiary does not have an account in Pakistani bank he/she may receive cash from any of the 260 branches of Sindh Bank in 125 cities across Pakistan.

Published in The Express Tribune, December 3rd, 2016.

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