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Western Union and Dubai Islamic Bank launches account based money transfer service in Pakistan

Western Union and Dubai Islamic Bank launches account based money transfer service in Pakistan
Karachi, September 10, 2015: Dubai Islamic Bank Pakistan Limited (DIBPL), a leading Islamic Bank in Pakistan and Western Union, a leader in money transfer and global payment services today announced the launch of international account base money transfer services to Pakistan, setting up new standards of convenience for Western Union beneficiaries in Pakistan.

The announcement was made at a launch ceremony attended by Mr. Junaid Ahmed, CEO of DIBPL, Mr. Alexandru Badulescu, Regional Vice President Eastern Europe CIS Pakistan & Afghanistan at Western Union, Khawaja Asif, Head of Consumer Banking of DIBPL, Hamid Farid, Country Manager Pakistan of Western Union, other senior management and media news personnel.

Speaking at the occasion, Mr. Junaid Ahmed, (CEO of DIBPL) said that DIBPL is pleased to offer a unique, groundbreaking facility to Western Union beneficiaries that will redefine the way we receive our remittances today.

This will enable Western Union money transfer recipients to call  a toll free number (0800 11 342) of DIBPL Call Center  any time, anywhere 24/7, and request for transfer of their remittances directly to their bank account maintained at any Pakistan based bank instead of visiting the branch physically to collect it. This is yet another initiative of the DIBPL that conforms to its vision to offer state of the art services to its customers and alliance partners.

“We are delighted to announce this strategic alliance with DIBPL which enables us to extend our innovative account-based money transfer footprint into Pakistan” said Alexandru Badulescu. We always look for new ways to provide our consumers with more choices and convenience to send and receive money around the world. Today’s agreement is a demonstration of how Western Union recognizes the changing needs and access to technology that our consumers require and opens up more options for them.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of June 30, 2015, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to millions of bank accounts. In 2014, The Western Union Company completed 255 million consumer-to-consumer transactions worldwide, moving $85 billion of principal between consumers, and 484 million business payments. For more information, visit www.westernunion.com.

About Dubai Islamic Bank Pakistan Limited (DIBPL)

DIBPL is a subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank. DIBPL endeavors to provide innovative financial products and services to its customers to experience World Class Banking. The Bank has 225 Locations (175 Branches and 50 Branchless Booths) in 55 cities and a customer base of over 200,000.

The Bank enjoys a short-term credit rating of ‘A-1’ and long-term credit rating of ‘A+’, indicating the Bank’s robust position in the industry. The Bank continues to reaffirm its commitment to Pakistan with new branches and absolutely Halal & Shari’a compliant new products and services.