ISLAMABAD: Pakistan’s Ambassador to the United Arab Emirates Faisal Niaz Tirmizi this week called upon Pakistani nationals residing in the Gulf country to use legal banking channels to remit money.
Pakistan receives its highest contribution of remittances every month from Saudi Arabia and the UAE, the two Gulf countries being the most preferred destinations for Pakistani laborers.
Pakistan has banned the use of hawala and hundi, two informal methods of money transfer, as both transfer systems are often used to launder money, evade taxes and contribute to terror financing.
The Index Exchange, a renowned UAE-based exchange company, held a media briefing and engagement event in Dubai on Saturday titled “HUNID PE WAAR” to promote legal remittances to Pakistan.
“I highly appreciate and congratulate the Index Exchange for playing its role in spreading awareness among Pakistani diaspora by launching a full-fledged media campaign,” Tirmizi wrote on social media platform X on Saturday.
“I urge all community members to support and promote legal banking channels for sending money back home!“
Pakistan’s government last year launched a crackdown against currency smugglers and hoarders when the cost of the US dollar soared, as people preferred informal banking channels to remit money to relatives in Pakistan.
