United Bank Limited (UBL) and Bank Albilad (BAB) – two of the most prominent banks in Pakistan and Saudi Arabia respectively – signed on May 28, 2008 an agreement for Electronic Home Remittance Facility at the UBL Head Office, Karachi, Pakistan.

Home remittances to Pakistan have shown tremendous growth in the last few years, especially from the Kingdom of Saudi Arabia, where there is a huge diaspora of Pakistani workers.

Senior officers from UBL and BAB during the agreement signing ceremony.

Under the agreement, UBL is offering its Home Remittance Disbursement Facility to BAB, which will enable BAB to remit home remittance transactions electronically for direct and speedy transfer of funds to the ultimate beneficiary's account in UBL as well as quick doorstep delivery of instruments to beneficiaries. This will also facilitate business expansion for both banks and enhance their capacity to better service their customers.

Mr. Atif R. Bukhari, President of UBL and Mr. Shahid Sattar, Head Retail Banking Group, BAB signed the agreement.

The ceremony was attended by a number of senior members of both banks including Mr. Hassan Raza, GE, Corporate Bank UBL and Mr. Amanat Ali, Head Business Development and Correspondent Banking, BAB.

It is worth mention that BAB witnesses continuous updating of the services it offers for its customers through a total of 87 Enjaz Centers spread around in all parts of the Kingdom of Saudi Arabia. Enjaz Centers exert maximum efforts to deliver the amounts of remittances within the shortest period of time at competitive prices. Such centers, however, shall introduce additional diversity of innovative services aimed at the convenience and ease of their customers.