DUBAI – Mashreq Bank has announced the exclusive launch of Quick Remit service to Pakistan, Emirates247 reported on Wednesday.

Mashreq customers can now transfer Pakistani rupees free of charge either via MashreqOnline or Snapp, and enjoy instant credit to all bank accounts in Pakistan.

The new service is unique as it offers immediate transfers as opposed to the regular remittance transfer which could take up to two days.

Dubai-based Mashreq Bank is the oldest privately owned bank in the United Arab Emirates. Founded as the Bank of Oman in 1967, Mashreq was the first UAE bank to install ATM cash dispensers, the first to issue debit and credit cards and the first to introduce consumer loans.