Overseas Pakistanis remit $7.4 billion in first four months of FY19

[ziaulislam]

Why don't you use standard chartered Bank. It is Avalible everywhere and very secure a d safe for online money transfer.
It's was probably the 1st ever bank to Offer option of online shopping.

very bad experience with it..its as bad as any other bank

i use ria.com or zoom but they are expensive

 

[Riz]

How do you know?

There is no need of a survey, just ask to 10 persons rendomly who are working in gulf.. See the results then

and 100% from Canada
If I need to send money to Pakistan I go to this one money exchanger, give him CAD and his people in Pakistan deposit PKR in account in Pakistan, no other country in the world allows anyone to deposit money into someone else's account...This is why Pakistan is on FATF list

90% from UK also

 

[xyxmt]

Pakistan's Forex can easily cross USD 40 billion if our Govt can take some "Aqal ke Nakhun"

 

[Ocelot]

I personally believe this is looted money coming back. Maybe the govt. is using Saudi model against the likes of Anwer Majeed & co, no wonder Zardari's screams are blowing through the world's roof. Otherwise a sudden increase of $1 billion is too big of an amount since remittances were pretty static in past few years.

 

[GumNaam]

I personally believe this is looted money coming back. Maybe the govt. is using Saudi model against the likes of Anwer Majeed & co, no wonder Zardari's screams are blowing through the world's roof. Otherwise a sudden increase of $1 billion is too big of an amount since remittances were pretty static in past few years.

actually no it's not. the looted money IS coming back but is not being announced to keep the foreign enemies who pretend to be lactating "friends" can keep guessing (cough u.s. cough).

 

[Ocelot]

actually no it's not. the looted money IS coming back but is not being announced to keep the foreign enemies who pretend to be lactating "friends" can keep guessing (cough u.s. cough).

Maybe this is what IK wanted to reveal in his address to the nation but was stopped.

 

[GumNaam]

Maybe this is what IK wanted to reveal in his address to the nation but was stopped.

there are names that he wanted to take but was asked not to by intelligence agencies...not good to pul people on alert until their necks are solidly in the noose.

 

[aziqbal]

the forecast is $22 billion remittances for 2018

thats pretty good going

hope we can beat Philippines in coming years and cross $30 billion and then $40 billion like Imran Khan says

 

[ziaulislam]

70% of Pakistanis in gulf countries still sending money from hundi hawala channels...

well, pakistan should setup banks int hese coutnries or do a deal with banks that can transfer money fast without cost
the gap between interbank and open market hsould be closed by provifing a similar rate

 

[Finer]

It is not news and again, not shocker. That has been the case since the late 80s and beyond. When the economic sanction is implemented, it will hurt Pakistan harder. Time to develop the self sufficient stable economy to depend less on the overseas, the better for Pakistan in the long run.

 

[punit]

the amount is coming to govt or to the families of the sender ?
If the amount is coming to the individuals it will be in PNR right ? How will it help Dollar Reserve ?
Any one ?

 

[Arsalan]

the amount is coming to govt or to the families of the sender ?
If the amount is coming to the individuals it will be in PNR right ? How will it help Dollar Reserve ?
Any one ?

The is received in bank, converted into PKR and withdrawn by family.
Even if it not via bank, dollars are not used in Pakistan so the people eventually covert it into PKR with the dollars ending up in open market and banks.

 

[zip]

The is received in bank, converted into PKR and withdrawn by family.
Even if it not via bank, dollars are not used in Pakistan so the people eventually covert it into PKR with the dollars ending up in open market and banks.

So overall it won't affect reserves but can be a channel to send or receive black money , right ?

 

[punit]

The is received in bank, converted into PKR and withdrawn by family.
Even if it not via bank, dollars are not used in Pakistan so the people eventually covert it into PKR with the dollars ending up in open market and banks.

GOT it. It will boost the purchase of commodities in market. Enabling a cycle of demand and supply.

 

[Arsalan]

GOT it. It will boost the purchase of commodities in market. Enabling a cycle of demand and supply.

A very important thing in a nations economy!!

So overall it won't affect reserves but can be a channel to send or receive black money , right ?

How?
The money will shore up FE reserves as they end up in banks!