Pakistan's drive to channel overseas remittances through regulated and digital pathways has received a boost, as a new partnership between ACE Money Transfer and Askari Bank seeks to widen access and curb reliance on informal systems.

The agreement, formalised at a signing ceremony attended by senior officials from both institutions, is designed to strengthen legal remittance flows and improve service delivery for overseas Pakistanis sending funds home.

Under the arrangement, ACE Money Transfer will expand its pay-out network by leveraging Askari Bank's nationwide infrastructure. The collaboration aims to enhance convenience for recipients and extend coverage across key remittance corridors.

Pakistanis residing in the United Kingdom, Europe, Australia, Canada and other regions are expected to benefit from smoother transfers and broader access to banking channels. The initiative focuses on improving both reach and efficiency, particularly for family's dependent on cross-border financial support.

Executives from both sides emphasised the strategic importance of formalising remittance inflows. Hasan Mubarak, Group Unit Head at ACE Money Transfer, noted that strengthening global pay out ecosystems remained central to serving diaspora communities while ensuring secure transactions.

Similarly, Muzammil Hanif, Head of Home Remittance and Roshan Digital Accounts at Askari Bank, highlighted the role of such collaborations in enhancing financial connectivity. He underscored the bank's emphasis on secure, transparent and digitally enabled services to deepen engagement with overseas Pakistanis.

The partnership reflects a broader effort to promote compliance and reduce friction in cross-border transfers. By encouraging the use of regulated banking systems, both institutions aim to contribute to financial inclusion and economic resilience.

As Pakistan increasingly prioritises digital finance, initiatives of this kind are likely to play a pivotal role in shaping the remittance landscape, which remains a critical pillar of the country's external inflows.