Lahore: The State Bank of Pakistan (SBP) has recommended the use of Xoom, a money transfer service by Paypal, to facilitate donations in the dam fund by overseas Pakistanis, according to a news outlet. This service allows online transfer with the amount received on the same day and instant deposits in five designated Pakistani banks.
This service will make dam fund donations easy for expatriates, and will pave the way for the launch of Paypal in Pakistan, which has already been hinted at by Finance Minister Asad Umar. As of October 2, overseas Pakistanis had contributed PKR 379 million to the fund, while Pakistani nationals donated PKR 4.09 billion. The usage of Xoom and launch of Paypal is expected to increase donations from overseas Pakistanis.
