Saudi Arabian Monetary Agency Governor Muhammed Al-Jasser inaugurated the headquarters of the bank located on the King Fahd highway, opposite the Kingdom Tower, recently.

“The bank is providing free of cost PKR home remittance under the brand name of Instant Cash — Instant Transfer with unique features,” Zubai Ahmed, chief executive officer of the bank’s Saudi operations, said.

“We are offering a full-fledged dedicated remittance section for our customers with superior services at unmatched rates,” Ahmed said.

He said the bank would not only give the best foreign-exchange rate to its customers but also the funds will be delivered instantly in Pakistan.

There are some 1.5 million Pakistani expatriates in the Kingdom at present.

NBP is the largest bank of Pakistan with total capital of $1.496 billion (SR5.610 billions), total Asset base of $12 billion (SR45 billion) and earned net profit last year of $209 million (SR783.750 million).

NBP is among the few Pakistani banks  that are compliant with Basel-II Tier — I Capital requirement of PKR15 billion.

It has a total domestic branch network of 1289 with 23 international/overseas branches and representative offices in four countries.

Tracing the history of the bank in the Kingdom, he said the bank made its maiden entry to the Kingdom in late 1950s and subsequently it was rebranded as Bank AlJazeera in early 1960s.

Pakistan Embassy Charge d’ Affaires Ayaz Muhammad Khan said: “The bank will help us in improving our trading partnership between the Kingdom and Pakistan.”

He also requested the bank’s staff to focus on enhancing remittances through NBP Riyadh.

National Bank of Pakistan also offers complete range of products especially designed for corporate, commercial, and retail and SME entities as well as for individuals.