Soneri Bank Partners with Ria Money Transfer to Expand Remittance Services in Pakistan

28/04/2015

Soneri Bank Partners with Ria Money Transfer to Expand Remittance Services in Pakistan

Karachi, Pakistan – April 18, 2015 – Soneri Bank Limited, under the umbrella of Soneri Mehnat Wasool Remittance, has partnered with Ria Money Transfer (“Ria”), a global leader in international money transfer and payment services, to provide money transfer services throughout Pakistan.  

This new collaboration allows Pakistani expatriates from all over the world to send money to their families and friends through Ria locations worldwide. Soneri Bank customers can either receive money directly to their bank account, or beneficiaries can pick-up cash at a Soneri Bank branch. Beneficiaries selecting cash pick-up can receive their funds in as little as 10 minutes through Soneri Mehnat Wasool Remittance. The amount remitted from abroad is paid in Pakistani Rupee (PKR) and can be collected at more than 240 Soneri Bank branches in 106 cities across Pakistan.

Soneri Bank’s SEVP and Group Head, Shahid Abdullah, said, “We believe that partnering with Ria will play a pivotal role in boosting remittance inflows to Pakistan not only globally, but from the United States, where there is huge potential. It will also help to build up foreign reserves. We believe this collaboration has benefits for both institutions and is aligned with Soneri Bank’s vision, ‘to better serve customers, to help them and the society grow’ and our mission ‘to provide innovative and efficient financial solutions to our customers’.”

Ria’s President and CEO, Juan Bianchi also commented, “Our partnership with Soneri Bank provides more choices for Pakistanis living abroad who wish to send money home, as well as additional points for collecting remittances. Ria’s substantial network, combined with Soneri Bank’s own strategic locations, will also contribute to foreign reserves and economic growth in Pakistan, which is one of the top 10 remittance receiving countries in the world.”

About Soneri Bank:

Soneri Bank is a Pakistani commercial bank that was incorporated on September 28, 1991. The first branch commenced operations in Lahore on April 16, 1992, followed by the launch of Karachi’s first branch on May 09, 1992. With over 240 branches and 260 ATM’s across the country, we are a growing bank well-positioned to provide competitive services in all spheres of banking.

Soneri Bank offers a diverse range of products and services to cater to the growing banking needs of our customers. Our brand promise “Roshan Har Qadam” manifests our commitment to constantly innovate our product suite for the best match of personal & business needs of our customers, including Commercial, Retail and Corporate segments. For further details about Soneri bank you may visit www.soneribank.com                        

About Ria: 

Ria is a global leader in money remittances and is a recognized benchmark in both quality and service. Ria initiates transfers through a network of sending agents and company-owned stores located throughout North America, Latin America, Europe and Australia as well as online from the United States at www.riamoneytransfer.com 

Ria’s current global network spans 134 countries with services in over 243,000 locations. Ria is steadfast in its commitment to customers and remains ingrained within the communities in which they live. For more information visit www.riafinancial.com and www.riamoneytransfer.com
 

Ria is a subsidiary of Euronet Worldwide, Inc. (Nasdaq:EEFT), a worldwide leader in processing secure electronic financial transactions. Through three business segments – Electronic Financial Transactions (EFT), epay Prepaid Products and Money Transfer – Euronet offers a diverse portfolio of electronic payment alternatives to customers in approximately 160 countries. In addition to global money transfer services, Euronet's product portfolio includes comprehensive ATM services, point-of-sale processing, card outsourcing services, prepaid mobile airtime, other prepaid content and mobile operator solutions.

For further information regarding this release, please contact:

Syed Muhammad Muzammil

Product Manager, Home Remittance, Soneri Bank Limited
syed.muzammil@soneribank.com

T: +92-311-7773034 or 111-567-890 Ext: 2155

Sian Bennett

PR & Communication, Ria Money Transfer

Sbennett@riafinancial.com

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