Govt-run BoAJK's Remittances Jumps To Record High Of Rs. 6.76 B

The public-sector Bank of Azad Jammu and Kashmir (BoAJK) has crossed another milestone in home remittances while continuing to make significant progress towards development

MIRPUR (UrduPoint / Pakistan Point News - 25th May, 2023 ): The public-sector Bank of Azad Jammu and Kashmir (BoAJK) has crossed another milestone in home remittances while continuing to make significant progress towards development.

This was disclosed in a high-level review meeting held in the State capital town late Wednesday.

The meeting was told that the financial institution of the state was achieving business goals under the patronage of the government coupled with the support of customers.

It was told in the meeting that remittances increased to a record high of R. 6.76 billion due to the strong trust of the customers around the world and the effective strategy of the organization. Respected users have done more than 66 thousand transactions during this time.

Addressing the meeting, Chief Executive Officer Khawar Saeed said that special desks have been established in the bank's branches for prompt and timely payment of funds.

After Ria (RIA) and Money Gram (Money Gram), remittances are increasing after the agreement with Western Union (Western Union) to receive remittances from all over the world, he said.

In the year 2019, the remittances of the institution were only 80 crores of rupees, after which the remittances increased by about 6 billion rupees.

This increase in remittances is the highest since the inception of the bank which is a reflection of the strong confidence of overseas diaspora in the bank, the meeting was informed.

"The BoAJK is achieving other business goals including remittances while the business network has been expanded", the President said and added that the Bank has set up special desks for remittances to ensure prompt and timely payment of funds received from all over the world.

AHR.