ISLAMABAD, PAKISTAN – Media OutReach Newswire – 7 August 2025 – Askari Bank and SUNRATE- a global payment and treasury management platform – have signed an agreement to enhance global payment services in Pakistan. This collaboration marks a significant step in Askari Bank’s commitment to supporting the country’s financial ecosystem through global partnerships. The signing ceremony was held at Askari Bank’s Head Office in Islamabad, attended by Mr. Zahid Rasul, Chief Technology Officer, along with AKBL’s Home Remittance Team and Mr. Mohsin Muzaffer, Head of MESA at SUNRATE.
This collaboration aims to bring seamless, secure, and scalable cross-border payment options to Pakistani beneficiaries while strengthening the country’s financial infrastructure.
Speaking on the occasion, Muzammil Hanif, Head Home Remittances at Askari Bank, stated, “This partnership underscores Askari Bank’s vision to enhance remittance services through innovation and international alliances. By joining forces with SUNRATE, we aim to deliver fast, reliable, and customer-centric remittance solutions that support financial inclusion and contribute to national economic stability.”
Also commenting on the collaboration, Mr. Mohsin Muzaffer of SUNRATE Middle East & South Asia (MESA) said, “At SUNRATE, we’re committed to empowering businesses around the world. Our partnership with Askari Bank ensures that local businesses such as entrepreneurs, freelancers, and SMEs in the region can receive payments from international clients with ease, speed, and confidence.”
Remittances play a vital role in Pakistan’s economy by bolstering foreign exchange reserves, reducing the current account deficit, and stimulating household consumption. Askari Bank’s advanced remittance processing system offers Straight Through Processing (STP), ensuring that transactions are executed in real-time, 24/7, providing unmatched convenience and speed for recipients across the country.
This partnership reflects Askari Bank’s continued commitment to delivering innovative financial solutions and reinforces its position as a forward-looking institution in Pakistan’s dynamic banking landscape.
About Askari Bank
Askari Bank Limited is one of Pakistan’s leading financial institutions, renowned for its innovation, customer-centric approach, and unwavering commitment to excellence. Established in 1991 and operational since 1992, the Bank has consistently driven financial inclusion and economic growth through cutting-edge banking solutions. The Bank actively promotes women’s empowerment, Green Banking, and accessibility for Persons with Disabilities (PWDs).
About SUNRATE
SUNRATE is a global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE has been recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan and is the principal member of both Mastercard and Visa. To learn more about SUNRATE, visit https://www.sunrate.com/
