KARACHI: United Arab Emirates-based lender Mashreq announced the launch of a digital cross-border banking service on Thursday, allowing Pakistani nationals in the Gulf state to remotely open accounts in their home country and transfer money instantly without fees.
Remittances from the UAE, home to one of the largest Pakistani expatriate communities, rose 13.7 percent year-on-year to $4.78 billion in July-January FY26, compared with $4.21 billion a year earlier, according to State Bank of Pakistan data, highlighting the importance of the corridor to Pakistan’s economy.
Under the new arrangement, UAE-based Pakistani customers can open and operate a Mashreq Pakistan account entirely through its mobile app, eliminating the need for physical documentation or branch visits. Customers can view and manage both accounts through a unified dashboard.
“We are delighted to introduce this pioneering digital service, which marks a significant milestone for Mashreq and our customers,” Fernando Morillo, Group Head of Retail Banking at Mashreq, said in a statement.
“As the first bank in the UAE to enable non-resident Pakistanis to open accounts in their home country digitally ... we are demonstrating our commitment to reimagining banking through innovation,” he added. “Our zero-fee Quick Remit service further enhances the experience, empowering customers with greater convenience, speed, and value.”
