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HBL Commits to Innovate and Transform Cross-Border Payments at IAMTN Summit

Karachi, 12 Oct 2023:Habib Bank Limited (HBL), a major participant in Pakistan's remittance flows, prominently featured in the International Association of Money Transfer Networks (IAMTN) Summit held in Dubai on 11 and 12 October 2023, demonstrating its commitment to innovating and transforming the landscape of cross-border payments. As a platform that congregates professionals, thought leaders, and innovators from the financial services industry, the IAMTN Annual Summit served to articulate and discuss the challenges, initiatives, and opportunities surfacing in the domain of international money transfers and remittances. During the session, HBL’s Chief Operating Officer, Sagheer Mufti, underscored the pivotal role of interoperability in unlocking the full potential of cross-border remittances, and emphasized HBL's dedication towards crafting a more efficient and inclusive financial landscape through strategic integrations and innovations.

The IAMTN, as the only global trade association representing the cross-border payments industry, annually hosts a summit that provides a vibrant platform for pertinent discussions concerning the international remittance sphere. HBL, being recognized as Pakistan’s Best Bank and a principal actor in managing the country’s remittance flows, established its stance firmly regarding the importance of evolving the present-day mechanisms governing cross-border payments. Sagheer Mufti, while articulating the bank's perspective, highlighted the necessity of breaking down operational silos and enabling a seamless integration between varying payment systems. This approach, he noted, would pave the way towards creating an enhanced, efficient, and inclusive financial environment, thereby ensuring clients are served optimally.

This engagement at the IAMTN Summit articulates HBL’s intentional move towards asserting its leadership and advocacy in fortifying Pakistan’s remittance corridors and also sketches a blueprint for the wider financial industry to foster collaborative innovations that would redefine the global remittance and cross-border payment paradigms. Ensuring that international money transfer systems operate with maximized efficiency and inclusivity is imperative, and through avenues like the IAMTN Summit, HBL is able to share, as well as gain, insights towards progressing this crucial financial sector.

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