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June 29, 2020

Transfast inks remittance deal with Pakistan’s Habib Bank

US-based cross-border payments company Transfast has teamed up Habib Bank to allow people across the globe to transfer money to Pakistan.

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Habib Bank is the largest commercial bank in Pakistan with more than 1700 branches across the country.

Following this deal, the remittance facility is now available to the Pakistani expatriates globally.

The partnership is part of the Transfast’s strategy to strengthen its network in Pakistan by leveraging the bank’s vast network across Pakistan.

Transfast SVP and MD Samir Vidhate said: “HBL is one of the most esteemed financial institutions in Pakistan and it is an honor to partner with them. Transfast is fully committed to offer competitive pricing, fast transfer of funds and personalized customer engagement.

“Through this partnership we will provide our Pakistani customer base with more convenient and accessible ways to collect money from any branch of HBL in Pakistan and to send money to any bank account in the country.”

Habib Bank head international banking Faisal Noor Lalani remarked: “This is a proud moment for HBL as this new arrangement will be beneficial to all the customers who look to make fast international money transfers to HBL Pakistan.

“Together, we look forward to providing excellent services to our customers with commitment to banking excellence for a better tomorrow.’’

Remittances account for 6% of Pakistan’s GDP. It received $21.84bn in remittances in 2019, according to initial estimates from the State Bank of Pakistan.

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img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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