#United Kingdom #Manchester #Pakistan #ACE Money Transfer #remittances

ACE Money Transfer Recognized by the State Bank of Pakistan

Manchester, England – Dec 2, 2024
ACE Money Transfer, a standout in the global remittance landscape, has received a significant accolade from the State Bank of Pakistan (SBP). The honor, awarded at the 4th Pakistan Remittance Summit held in Rome, Italy, recognized ACE Money Transfer as the Fourth Largest Global Fintech in terms of remittance volumes sent to Pakistan. This recognition underlines the company's critical role as a pivotal player in the remittance sector, facilitating financial flows that substantially contribute to the country’s economy.

The remittance landscape in Pakistan is robust, placing the nation as the fifth-largest recipient of remittances globally. Data shows that in October 2024, remittances to Pakistan soared to over $3.052 billion, marking a remarkable 24% increase compared to previous months. This surge is largely attributed to the innovative services provided by ACE Money Transfer, which leverages technology to ensure that funds are sent securely and efficiently, connecting families worldwide.

Rashid Ashraf, CEO of ACE Money Transfer, expressed his gratitude for the recognition, stating, "This prestigious award from the State Bank of Pakistan is a testament to our commitment to supporting millions of Pakistanis and other expatriates globally. We strive to help them securely transfer funds home, ensuring a better life for their loved ones." He went on to emphasize the company's ongoing dedication to enhancing the technological landscape in remittance services, aiming to boost economic contributions to Pakistan further.

This distinguished award highlights not only ACE Money Transfer's innovative strategies but also its commitment to promoting legal remittance channels, thereby enhancing the formal financial sector in Pakistan. The company's efforts align with the national goal of encouraging formal money transfers, which facilitate improved financial stability and economic growth.

ACE Money Transfer does not merely focus on providing financial services but aims to foster a sense of community by bridging the gap between families separated by distance. With a mission to empower expatriates to send their hard-earned money back home quickly and safely, the platform is a critical component for many Pakistani families who depend on remittances for their day-to-day livelihoods.

As ACE Money Transfer continues its quest for excellence, the company remains committed to developing innovative solutions that meet the diverse needs of its global customer base. It distinguishes itself through its customer-first approach, placing utmost importance on security, efficiency, and user experience in all its services.

Conclusion

The recognition from the State Bank of Pakistan is not just an accolade; it reinforces ACE Money Transfer's position within the global remittance industry and its indispensable role in empowering expatriate Pakistanis. As the company grows and evolves, it looks forward to accelerating its impact in the remittance market, bringing more transformative financial solutions to the forefront.

For more information about ACE Money Transfer, please visit www.acemoneytransfer.com.