Islamabad, Pakistan: The Western Union Company and MoneyGram International Inc working in Pakistan have barred to send/transfer money from Pakistan to any foreigner outside the country.
According to details, both leading fund transfer companies working in Pakistan are now only allowed to transfer to and from Pakistan to any person living outside the country having Pakistani origin. Both companies can transfer funds within Pakistan to any Pakistani but not to any foreigner. The reason for this change of rule has not been made public officially. Nobody can transfer even 10USD to any foreigner from Pakistan through these two fund transfer companies.
When contacted Western Union Company and MoneyGram offices in Islamabad to comment, officials said that they could send/transfer money outside of Pakistan only to a Pakistani not to any foreigner. However, both companies regretted to share the reason behind change in their rules.
“Money from Pakistan can be sent/transferred only through foreign currency accounts now to any foreigner and no legal service is available to transfer funds to foreigners except through foreign currency accounts. However, illegal means of Hawala and Hundi is working secretly”, claimed a source dealing in money changing sector.
It may be mentioned that Western Union Company and MoneyGram had been transferring funds to any foreigner from Pakistan even critical phase of post 9/11 era when international agencies were keeping record of every transaction to and from Pakistan. Both companies are US based and get all record of every transaction.
Sources in financial sector claim that apparent reason to ban fund transfer from Pakistan to any foreigner is curb money laundering irrespective of volume of money.
