Karachi, Pakistan – In a significant move to enhance financial inclusion and convenience, the National Bank of Pakistan (NBP) has announced a strategic partnership with myZoi Financial Inclusion Technologies (myZoi), a UAE-based fintech company dedicated to fostering financial literacy and accessibility. This collaboration is designed to make cross-border fund transfers more accessible, especially for underbanked Pakistani nationals residing in the UAE, specifically targeting the blue-collar workforce.
The partnership will enable Pakistani migrant workers in the UAE to digitally send money back home to their families in just minutes, transforming the traditional remittance process. By leveraging NBP’s deep-rooted financial expertise and myZoi’s cutting-edge solutions, the two organizations aim to offer simple, secure, and instant remittance services to the underbanked population.
In addition to facilitating fast money transfers, the myZoi app empowers users to plan and save for the future while gaining financial literacy. The app is designed to ensure safe and easy usage of digital financial services, providing users with the tools to manage their finances effectively.
Under the terms of the partnership, Pakistani myZoi users can initiate fund transfers from their myZoi wallets, while NBP will ensure the disbursement of funds to recipients in Pakistan. This seamless integration ensures quick, safe, and efficient transactions for both the senders and the beneficiaries.
Syed Muhammad Ali, CEO of myZoi, expressed his excitement for the collaboration, stating, “We are thrilled to join hands with the National Bank of Pakistan to facilitate seamless cross-border fund transfers for Pakistani blue-collar workers in the UAE. Through this partnership, we aim to introduce instant payroll services, streamline home remittances, and enhance financial literacy for workers and their families. Together, we are paving the way for a brighter, financially inclusive future for all involved.”
Both NBP and myZoi are committed to democratizing access to financial services for populations traditionally underserved by conventional banking systems. This partnership is a major step towards creating a more inclusive financial ecosystem by utilizing technology and innovation to empower those who need it most.
This collaboration marks a significant milestone in their joint mission to make financial empowerment a reality for everyone, ensuring that every Pakistani worker, regardless of their location, has access to secure and reliable financial services.
