Firm’s drive successful as over 400,000 expats take pledge against illegal remittances

Jamil Khan, Senior Reporter

The UAE has taken a different approach for development across all the sectors and we as a Pakistani nation should take benefit and bring professionals in the fields of AI (artificial intelligence) and IT (information technology) as well as skilled workforce.

This was stated by Faisal Niaz Tirmizi, Pakistan Ambassador in the UAE a press event held in Rixos Premiur Hotel in JBR, Dubai to celebrate the 3-month long campaign launched by Index Exchange against illegal remittances (Hundi/Hawala) across the UAE.

During the drive, ‘Iss Baar, Hundi Pe Waar!’ (war on illegal remittances), over 400,000 Pakistani expatriates took pledge against illegal remittances (Hundi/Hawala) and participated in a series of awareness and entertainment activities.

The briefing was also attended by firm’s officials including Humayun Murad, Executive Director, Syed Abdus Salam, Chief Operating Officer, Mir K Rasool, Chief Business Officer and Iqbal Dawood, Chairman Pakistan Business Council Dubai, Dr S Qaiser Anis, President Pakistan Business Professional Council, Abu Dhabi, Khalid Hussain Chaudhry, Pakistan Social Center Sharjah, Dr Shahid Zaman, Vice President Pakistan Association Dubai and others.

In his address, Tirmizi said that the illegal remittances is causing a huge loss to the nation as many expatriates are unaware that it is illegal and sending money through legal channels is only way to support Pakistan in this critical times.

“We salute to our blue collar expatriates who are indeed ‘unsung heroes’ using legal channels to send money back home. Campaigns like these launched by Index Exchange are key to raise awareness and we as Pakistani mission in the UAE are fully supporting,” he added.

He also said that professionals and experts in AI, IT and service industry like hotels should get benefit from the new phase of development started by the UAE.

Humayun Murad, Executive Director of Index Exchange said that they are serving the communities for the last 48-years and vowed to continue further 48-50years. “The campaign against illegal remittance was aligned with the policies of Pakistan’s government to curb the practice of Hundi/Hawala (illegal remittances).

Through different activities with the support of Abu Dhabi Police, Dubai Police and other stakeholders we were successful to bring awareness on wide scale and hope to see the increase in the legal remittances,” he added.

Other speakers highlighted that the legal remittances are a lifeline for millions of families in Pakistan, providing essential financial support and contributing to the country's economic growth. They help fund education, healthcare, and small businesses, and also in creating jobs and opportunities. In contrast, illegal remittances pose serious risks, including fraud, money laundering, and even financing terrorism.

Syed Abdus Salam, Chief Operating Officer said “With the help of this campaign, we encourage everyone to learn more about the benefits of legal remittances and take a pledge against illegal remittances. It's our war against illegal money transfers.

Let's together say ‘No’ to Hundi/Hawala and opt for authorized money transfers. Hundi transactions involve illegal and unregulated transfer of money, which can lead to various financial risks and even criminal activities. To protect yourself and your finances, it's important to use authorized money exchange services like Index Exchange that are regulated and comply with legal guidelines,” he added.

Mir K Rasool, Chief Business Officer of Index Exchange, delivered a comprehensive presentation on the campaign, detailing the rationale behind it, the strategies employed, and the impactful results achieved.

He highlighted that legal remittances are a lifeline for millions of families in Pakistan, providing essential financial support and contributing to the country's economic growth. With the support of Abu Dhabi Police, Dubai Police, and other stakeholders, we have been successful in raising widespread awareness, and we are hopeful to see a significant increase in legal remittances.

However, the business community leaders and professionals were honoured during the event and performed a cake cutting to celebrate the country’s 77th Independence Day.