Submitted by: Submitted by MARHAAHAM
Views: 69
Words: 9166
Pages: 37
Category: Business and Industry
Date Submitted: 05/15/2014 12:40 AM
Submitted to
Mr. Suboor uz zaman
Vice President - Manager Central Processing Unit at United Bank Limited
Special thanks to
MR. Moinuddin MR. Dahir junijo
PRI Head at SBP I.I Chandigarh Road Business Head of UBL Karachi
Submitted by
M.ahsan Sajid AFRIDI M.FARHAN Sobia Arshad Zainab asad
| INDEX | |
Serial # | Topics | Page # |
1. | Remittance | 4 |
2. | Types of remittances | 4 |
3. | Pros and cons | 5 |
4. | Modes of remittances | 8 |
| Domestic remittances | 9 |
| Foreign remittances | 17 |
5. | Cancellation of outward and inward services | 19 |
6. | UBL NRP services and its partners | 21 |
7. | Legal and regulatory framework | 27 |
8. | Prescribed application form | 30 |
9. | Remittance mechanism | 31 |
10. | Home remittances of Pakistan | 35 |
11. | Pakistan remittance initiative (PRI) | 36 |
12. | conclusion | 40 |
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Remittances
Types of Remittances
Importance of Remittances
Porn and Corn of Remittances
REMITTANCE:
The word Remittance originates from the word “remit” which means to transmit money/ fund. In banking terminology, remittance means transfer of fund from one place to another. It is not only bound to transfer of money to or from foreign country but also the local transfer of currency means within the country. For example, when a person sends a check to the government to pay for a tax bill, the check is remittance to remove the tax obligation. If you were to send money to a friend in Europe through a wire-transfer service, the sum of the payment is the remittance.
Inward Remittances:
The term 'inward remittance" means processing of incoming payments, including the crediting of accounts or other authorized discharge of funds and includes not only...