HBL, JP Morgan sign deal

KARACHI: HBL, the largest bank in Pakistan, has entered into an agreement with JP Morgan Payments, to provide secure, and cost-effective cross-border payments via JP Morgan’s Xpedite Remit, a statement said on Thursday.

The agreement extends an existing relationship between the two financial institutions to provide remittance services in Pakistan. Commenting on this collaboration, Faisal N Lalani, Head of International Banking – HBL, said, “We are extremely proud of this engagement with JP Morgan Payments. JP Morgan’s Xpedite Remit solution will enable individuals across the globe to send remittances to Pakistan in a secure and cost-effective manner. Remittances can be sent to HBL and other bank accounts or as cash over counter from any of the Bank’s 1,750+ branches in Pakistan.”

Amin Khowaja, CEO, Pakistan - JP Morgan, said, “With the signing today, JP Morgan is very excited to enter into a strategic engagement with HBL. Pakistan is one of the largest remittance recipient corridors and we will work together to streamline remittances.”