Mashreq launches cross-border accounts for UAE-based Pakistanis with instant transfers home

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.

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