The State Bank of Pakistan has granted approval for LemFi, a Bangladesh‑based fintech, to partner with United Bank Limited (UBL) to enable seamless, cross‑border remittance flows into Pakistan. This collaboration will allow migrant workers to send money directly from LemFi’s app to recipients’ UBL accounts, supporting faster, safer, and more affordable remittance transfers.
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“This partnership bridges digital remittances across borders,” said a UBL spokesperson. “By integrating with LemFi, we are expanding touchpoints for diaspora communities to support families back home.” The synergy symbolizes a fintech‑bank alliance that prioritizes inclusion, convenience, and real‑time value delivery.
Under the agreement, remittance recipients will benefit from streamlined onboarding, reduced transfer fees, and faster funds access. LemFi executives noted, “Our goal is to simplify migrant remittances by removing friction points and extending reach through partner banks like UBL.” The alliance also reinforces regulatory alignment, with SPB oversight ensuring compliance with foreign exchange and AML standards.
This move aligns with broader national goals: boosting inward remittances, incentivizing digital foreign exchange channels, and reducing reliance on informal corridors. As global remittance volumes grow, this partnership signals Pakistan’s readiness to integrate diaspora flows through regulated digital infrastructure.
