Pakistani FM meets Saudi counterpart, calls for continued coordination to combat terror groups

Pakistan foreign minister Bilawal Bhutto Zardari (left) and his Saudi counterpart Faisal bin Farhan sign the minutes of the first ministerial meeting at the Ministry of Foreign Affairs in Riyadh, Saudi Arabia on November 10, 2022. (Photo courtesy: Saudi Ministry of Foreign Affairs)
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Updated 11 November 2022
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Pakistani FM meets Saudi counterpart, calls for continued coordination to combat terror groups

  • Bilawal Bhutto-Zardari reiterates his country’s firm support for the kingdom’s safety and security
  • Pakistani FM also meets GCC secretary-general, discusses free trade agreement with the region

ISLAMABAD: Pakistan’s foreign minister Bilawal Bhutto-Zardari co-chaired the inaugural session of a high-profile meeting under the framework of Saudi-Pakistan Supreme Coordination Committee with his counterpart Prince Faisal bin Farhan in Riyadh on Thursday, said an official statement released in Islamabad, to discuss a number of political and security issues.

The foreign minister arrived in Saudi Arabia on a two-day visit on Wednesday only a few days after Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman held a meeting on the sidelines of a UN climate summit in Egypt.

According to the statement issued by the foreign office, he reiterated Pakistan’s firm support for the kingdom’s safety and security. Bhutto-Zardari also emphasized the importance of continued coordination between the two countries to combat activities of terrorist groups that aim to undermine regional stability.

“The Foreign Minister also highlighted the need to further strengthen institutionalized linkages between the two countries to counter threats in the security domain, including cybersecurity, counter terrorism and its financing, organized crimes, drug trafficking and money laundering,” said the foreign office.




Pakistan foreign minister Bilawal Bhutto Zardari (left) poses for a photograph with his Saudi counterpart Faisal bin Farhan (right) after the meeting at the Ministry of Foreign Affairs in Riyadh, Saudi Arabia on November 10, 2022. (Photo courtesy: Saudi Ministry of Foreign Affairs)

It added the foreign minister expressed satisfaction over the existing military and defense relations between the two countries and “underscored Pakistan’s commitment to further bolster cooperation in this area.”

The Pakistani foreign minister also held a meeting with the secretary-general of Gulf Cooperation Council (GCC) Dr. Nayef Falah M. Al-Hajjraf in Riyadh.

He said the GCC was an important player in the region that could play a vital role in further expanding political and economic ties between Pakistan and other regional actors.

“The foreign minister and the Secretary-General reviewed the status of Pakistan’s ongoing engagements and cooperation with the GCC and its member states,” said another statement, adding the foreign minister also highlighted the need for early finalization of the ongoing negotiations on the Pakistan-GCC free trade agreements and asked technical teams from both sides to synergize efforts to achieve the common objective.




Pakistan foreign minister Bilawal Bhutto Zardari and his Saudi counterpart Faisal bin Farhan hold the first ministerial meeting at the Ministry of Foreign Affairs in Riyadh, Saudi Arabia on November 10, 2022. (Photo courtesy: Saudi Ministry of Foreign Affairs)

 


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

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

  • UAE-based Pakistanis can open Mashreq Pakistan accounts without branch visits
  • The bank offers instant, fee-free remittances to its client through Quick Remit service

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.”

Once activated, customers can send funds instantly to Pakistan using Quick Remit, a remittance feature available to Mashreq account holders.

Pakistani customers who open an account with Mashreq Pakistan will receive a current account with no minimum balance requirement and a domestic PayPak debit card, the statement said.

Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, said the initiative was aimed at strengthening digital financial connectivity for overseas Pakistanis.

“This milestone reflects our continued focus on building a robust digital financial ecosystem through technology-led solutions,” he said. “By enabling seamless and secure cross-border account opening, we are breaking down traditional banking barriers and delivering meaningful impact to our customers.”

Headquartered in Dubai, Mashreq operates across the Middle East and has expanded its digital banking offerings in recent years as competition intensifies in the region’s remittance and cross-border payments market.