ACE Money Transfer is intensifying its support for Pakistan’s economic development through a series of strategic engagements in Islamabad, led by its Chief Executive Officer, Rashid Ashraf. During high-level meetings with the Honorable Finance Minister, Muhammad Aurangzeb, and other senior government officials, discussions revolved around building robust collaborations to advance Pakistan’s financial infrastructure and significantly boost formal remittance inflows.
At the heart of these talks was a shared vision of developing well-structured incentive mechanisms aimed at motivating overseas Pakistanis to channel funds through official, transparent routes. Recognizing the critical role remittances play in Pakistan’s economic stability, stakeholders explored comprehensive strategies to elevate annual formal remittance volumes to USD 50 billion over the next five years. This ambitious target dovetails with the country’s broader economic roadmap, which prioritizes sustainable growth and reduced dependence on informal financial networks.
Rashid Ashraf highlighted the pressing need for stronger collaboration across Pakistan’s financial spectrum, urging a cohesive effort involving banks, exchange companies, electronic money institutions, and allied stakeholders. By cultivating a unified digital ecosystem, he noted, Pakistan can substantially minimize reliance on informal cash systems, promote greater PKR retention within its borders, and enhance the documentation of financial activities—key steps toward solidifying long-term macroeconomic health. A strategic blueprint was laid out detailing how remittances could be seamlessly woven into national economic planning, supporting both fiscal resilience and social development goals.
In a separate meeting with Attaullah Tarar, Minister for Information and Broadcasting, discussions centered on amplifying public education campaigns around the significance of legal remittance channels. Ashraf emphasized ACE Money Transfer’s unwavering support for Pakistan’s national digitization drive, offering the company’s technological capabilities in areas like secure data governance, real-time behavioral analytics, and merchant network scaling. These assets, he pointed out, can serve as valuable tools for shaping informed, evidence-based policy frameworks that prioritize efficiency and inclusivity.
Additional consultations with Salik Hussain, Federal Minister for Overseas Pakistanis and Human Resource Development, alongside Parliamentary Secretary Ihsan ul Haq Bajwa, focused on harnessing the overseas Pakistani community’s potential as a cornerstone of national progress. Topics ranged from formalizing undocumented migration and money transfer pathways to improving arrival processes at airports and recognizing the multifaceted contributions of overseas Pakistanis through targeted state initiatives.
Following these engagements, Rashid Ashraf reiterated ACE’s commitment to Pakistan’s financial future, stating, “We are proud to stand alongside Pakistan in fostering formal remittance flows. Encouraging legal, traceable transfers not only fortifies the economy but delivers direct benefits to countless families across the country. ACE remains dedicated to working hand in hand with the Government of Pakistan to expand financial inclusion, accelerate digitization, and build enduring economic resilience.”
This series of dialogues underscores a pivotal collaboration between private financial technology leaders and the public sector, aiming to transform how remittances and digital payments integrate into Pakistan’s economic fabric. As ACE Money Transfer continues to align its strategic objectives with national priorities, these initiatives could mark a crucial turning point in advancing a more transparent, efficient, and inclusive financial ecosystem for Pakistan.