Soneri Bank Partners with Small World Financial Services to Expand Remittance Services in Pakistan
Karachi, Pakistan – Mar 10, 2017 – Soneri Bank Limited has partnered with Small World Financial Services, a global leader in international transfer and payment services, under the umbrella of Soneri Mehnat Wasool Remittance, to provide money transfer services.
This new collaboration allows Pakistani expatriates from all over the world to send money to their families and friends through more than 190 countries worldwide, offering an integrated, omni-channel experience with a global payout network of over 250,000 locations, the third largest in the world. Customers can also pick-up cash in less than 10 minutes through Soneri Mehnat Wasool Remittance without the need for a bank account. The amount remitted from abroad is paid in Pakistani Rupee (PKR) and can be collected at more than 285 Soneri Bank branches in 130 cities across Pakistan.
Soneri Bank’s SEVP and Group Head, Shahid Abdullah, said, “We believe that partnering with Small World Financial Services will play a pivotal role in boosting remittance inflows to Pakistan globally. It will also help to build up foreign reserves. We believe this collaboration has benefits for both institutions and is aligned with Soneri Bank’s vision, ‘to better serve customers, to help them and the society grow’ and our mission ‘to provide innovative and efficient financial solutions to our customers’.”
Mr. Nick Day, CEO SWFS, said, “Pakistani workers sent remittances abroad over $19.9 billion in 2015-16 to support their families and friends, and to invest back into their home country. This partnership between Small World FS and Soneri Bank will help the community get their funds to their countries faster and at much lower cost than with existing services.