Soon, the Pakistani government will make it mandatory for expatriates to open bank accounts back home in Pakistan.
According to an official, this new regulation is to abolish illegal transfers and money laundering.
“The Pakistan government will make it compulsory for all Pakistanis working and living abroad to open bank accounts in Pakistan to help them ensure smooth money transactions through legal banking channels and to curb money laundering,” said Syed Irfan Ali, executive director of the State Bank of Pakistan.
This will also make the transfer of money back home as fast as possible. By using this method, Pakistani nationals will face a risk-free channel that insures the safety of their assets.