Faysal Bank Partners With Ripple for Instant Cross Border Remittances

Faysal Bank Limited (FBL) is introducing a digital solution for its customers by partnering with Ripple, a globally recognized company for fast, secure and convenient cross border payments service.

Under the agreement which was signed recently in Karachi, under the leadership of Mr. Yousaf Hussain, President & CEO – Faysal Bank Limited, Faysal Bank has become the first bank in Pakistan to join the growing network of Ripple globally. The ceremony was attended by senior management of both organizations.

This agreement will improve FBL home remittance customers’ experience through instant fund transfers with end-to-end tracing and tracking solutions available currently in global and some GCC markets including UAE and Saudi Arabia.

FBL Head Corporate and Investment Banking, Mr. Ali Waqar said:

In line with our vision for excellence in all that we do, we are delighted to join Ripple and access the fast-growing network that connects its members and other financial institutions. It is coherent with Faysal Bank Limited (FBL) strategy to offer cutting-edge solutions which mutually benefits both the bank and our esteemed clients.

“This announcement represents FBL commitment to adopt the latest innovative solutions and reflects our ability to transform FBL to digital bank with world-class services and solutions,” Arif Siddiqui, Chief Digital Officer, FBL added.

FBL aims to provide the best services to its clients, Ripple already has more than 200 customers around the world, joining Ripple enables FBL to process cross-border payments in real-time with end-to-end tracking and certainty of settlement.

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