Islamabad, September 4, 2024 – Bank Alfalah successfully completed a comprehensive branding and renovation initiative at the Protectorate of Emigrants (PE) Karachi Office, aimed at enhancing the experience of overseas workers going abroad for employment. To mark the completion of this project, an inaugural ceremony was held at the PE Karachi Office. The event was graced by Mr. Akhtar Javed, Executive Director of the State Bank of Pakistan (SBP), as the chief guest.
The initiative included modernizing the office specifically briefing hall with new facilities to ensure the comfort and convenience of the intending emigrants visiting PE office. The office was also branded with educational and marketing materials to better inform visitors about the benefits of formal channels and bank’s products and services relating to home remittances. Furthermore, in collaboration with an international exchange company, Bank Alfalah provided cashback vouchers worth 10,000 AED to overseas workers intending to depart for the UAE. These efforts reflect the bank’s commitment to promote the use of formal channels for remittance mobilization in Pakistan.
Bank Alfalah (BAFL) is also a part of Pakistan Remittance Initiative (PRI)’s Pre-Departure Briefing Program, a broader awareness program for workers going abroad. Under this program, operational since September 2023, BAFL’s representatives have been providing briefing sessions to intending overseas workers at nine PE offices across Pakistan to raise their awareness about formal channels; facilitate them in opening of bank account; and to inform them about risks involved in use of informal channels (Hundi Hawala).
During the event, Mr. Akhtar Javed, Executive Director of the State Bank of Pakistan, highlighted that overseas Pakistanis are invaluable assets to the nation and contributing significantly to the country’s economy by sending remittances through formal channels. SBP and PRI highly value their contributions. He appreciated the efforts of the Bureau of Emigration and Overseas Employment and all PE offices across Pakistan in educating intended workers before leaving the country. Further, he added that under this program, more than 5,600 sessions have been conducted by 14 participating banks, educating more than 250,000 emigrant workers along with opening of more than 15,000 bank accounts. Moreover, he also shed light on various schemes of GoP for overseas Pakistanis that incudes facility to send remittances free of charges, Sohni Dharti Remittance Program (SDRP), Roshan Digital Account (RDA) etc. to encourage and reward their loyalty for using formal channels.
In the end he appreciated and acknowledged Bank Alfalah for undertaking the branding and renovation of the PE Karachi office. Under SBP/PRI direction other banks are also undertaking the assignment of branding and renovation of the other PE offices across Pakistan.
Mr. Farooq A. Khan, Group Head of Corporate Investment and International Business at Bank Alfalah, commented that “we believe that empowering our citizens with the right knowledge and resources is essential for their financial well-being and the country’s economic stability. This partnership with the Protectorate of Emigrants Offices ensures that our overseas workers are fully informed and well-equipped to contribute to Pakistan’s economy legally and safely.”
This initiative is a testament to successful public-private partnership to facilitate overseas Pakistanis both within and outside Pakistan by enhancing their overall banking experience and ensuring that they can remit funds to their loved ones seamlessly, securely, and efficiently.
