Bank of Punjab signs MoU with Stacks to improve digital remittances

The Bank of Punjab (BoP) has entered into a strategic Memorandum of Understanding (MoU) with Stacks, marking an important step toward transforming Pakistan's remittance landscape and strengthening the country's digital financial ecosystem, according to a press release. The MoU was signed by Stacks Co founder Muneeb Ali and BoP President & CEO Zafar Masud, reflecting a shared commitment to innovation, financial inclusion, and the development of faster and more efficient cross border payment solutions for Pakistan, it stated. Through this collaboration, the BoP will combine its banking expertise and institutional reach with Stacks' technology capabilities to explore new possibilities for improving remittance services, with a focus on speed, security, transparency, and convenience for overseas Pakistanis and their families, the statement read. As part of this initiative, the two organisatio...