Dubai - Mubasher: Emirates Islamic Bank (EIB) has launched its 60-second online fund transfer service “QuickRemit” in Pakistan on the South Asian country’s Independence Day.

EIB’s Pakistani customers will be able to conduct QuickRemit transfers to any Faysal Bank account in Pakistan in less than 60 seconds, and to national banks within one hour, the Dubai-listed lender said in a statement.

“Extending our QuickRemit transfer service to Pakistan enhances our value proposition to one of our key customer segments,” EIB’s deputy CEO for consumer banking and wealth management, Wasim Saifi, commented.

“Pakistan and UAE share long-standing trade ties, with a high number of Pakistani expatriates residing in the UAE. With the QuickRemit service, we now offer customers a safe, quick and seamless platform to send money back to Pakistan,” he added.

Pakistan is among the top three countries that receive remittances from the UAE and the rest of the world, with its value reaching $19.3 billion in 2017, according to State Bank of Pakistan (SBP).