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BoP signs agreement with UAE exchange firm

LAHORE: The Bank of Punjab (BoP) has entered into an agency arrangement with the UAE Exchange Centre, LLC, a leading exchange house of the Middle East.

Now, the Bank will be able to provide speedy remittance services to expatriate Pakistanis for smooth, fast and economical money transfers to their families in Pakistan. Under this new facility, the remitter himself will be able to select the BOP branch nearest to his home in Pakistan to avoid unnecessary hassles by his family when receiving the remittances.

The BoP has signed series of Memorandums of Understanding (MoU) recently. These include an MoU with Defence Raya Golf and Country Club to provide housing finance to the customers for the purchase of condominium located around DHA Golf Course. The BoP shall provide financing facility up to 70 percent of the value of condominium in easy installments spread over a maximum period of 20 years. Then, the BoP has signed another MoU with Interwood to provide loan facility to its customers for the purchase of home and office furniture on easy installments. The facility shall be provided on easy terms and repayable in 60 easy installments.

Similarly, the BoP has signed MoU with Alcatel to provide personal loan facility to its customers for the purchase of state-of-the-art French mobile phones on easy installments. The facility shall be provided at zero percent mark-up for 12 months with zero down payment and free delivery at customer’s doorstep. staff report

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