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Expats urged to use legal channels to remit money to Pakistan
Index Exchange’s Campaign against illegal remittances ‘Iss Baar, Hundi Pe Waar’— a roaring success
Ambassador Faisal Niaz Tirmizi praises Index Exchange's efforts for being the first to initiate such an aggressive and innovative campaign against Hundi/Hawala which created an impact at the grass roots level.
Index Exchange marked Pakistan's 77th Independence Day anniversary with a grand celebration and a briefing on the ongoing success of their groundbreaking campaign, "Iss Baar, Hundi Pe Waar," aimed at combating illegal remittances. The event, held in the presence of the Pakistani expatriate community, business leaders, and distinguished guests, highlighted the significant strides made in raising awareness about the importance of legal remittances.
The event was graced by the presence of Faisal Niaz Tirmizi, Ambassador of Pakistan to the UAE, who lauded Index Exchange for their pioneering efforts in the fight against illegal remittances. In his address, Ambassador Tirmizi emphasized the detrimental impact of illegal remittance channels like Hundi and Hawala on Pakistan's economy. He noted that many expatriates are unaware of the illegality of these practices and stressed the importance of using legal channels to support Pakistan during critical times.
“We salute our blue-collar expatriates who are indeed the ‘unsung heroes’ for using legal channels to send money back home. Campaigns like 'Iss Baar, Hundi Pe Waar' launched by Index Exchange are crucial in raising awareness, and we, as the Pakistani mission in the UAE, fully support these efforts,” said Ambassador Tirmizi.
Over 400,000 Pakistani expatriates have taken a pledge against illegal remittances and have actively participated in a series of awareness and entertainment activities organised by Index Exchange as part of this campaign. The event was attended by officials from Al Hail Holding Group, Index Exchange management and board, representatives from the Pakistan Business Council, prominent Pakistani businessmen, members of various Pakistani associations, and Pakistani banks.
Humayun Murad, executive director of Index Exchange, expressed his gratitude towards the community, stating: "We have been serving the community for the last 48 years and are committed to continuing our mission of promoting legal remittances and supporting Pakistan’s economy."
Syed Abdus Salam, chief operating officer of Index Exchange, emphasized the campaign's focus on strengthening Pakistan's economy through increased legal remittances. He stated: “The campaign against illegal remittances is a reflection of our commitment, aimed at bolstering the economy of Pakistan by encouraging legal remittance channels.”
Mir K Rasool, chief business officer of Index Exchange, highlighted that legal remittances are a lifeline for millions of families in Pakistan.
Mir K Rasool, chief business officer of Index Exchange, delivered a comprehensive presentation on the campaign, detailing the rationale behind it, the strategies employed, and the impactful results achieved. He highlighted that legal remittances are a lifeline for millions of families in Pakistan, providing essential financial support and contributing to the country's economic growth. With the support of Abu Dhabi Police, Dubai Police, and other stakeholders, we have been successful in raising widespread awareness, and we are hopeful to see a significant increase in legal remittances.
The event also saw the honoring of business community leaders and professionals, followed by a cake-cutting ceremony to celebrate Pakistan’s 77th Independence Day anniversary. The occasion was not only a celebration of the nation's independence but also a reaffirmation of the community's commitment to supporting Pakistan's economy through legal channels.
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