Pakistani citizens in Oman can now send remittances back home through the ‘Mobile Wallet’ scheme, a new feauture launched by the State Bank of Pakistan (SBP).
The feature, M-wallet, aims to easen the proceedure of transferring money to Pakistan."This account is meant for beneficiaries of home remittances i.e. individuals having Pakistani nationality only. Individuals can open these accounts on singular basis. One CNIC holder can open only one M-wallet (BB-HRA) in a bank," the instructions put up by SBP read.
These M-wallets can only be fed with home remittances - money sent from abroad. Citizens living in Pakistan can not use it to deposit money locally.
SBP added, "Home remittances can now be received directly in M-wallets and there is no requirement to visit a bank branch, fill forms or stand in a queue to receive your remittances.”
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