{"id":74405,"date":"2021-02-23T18:20:52","date_gmt":"2021-02-23T13:20:52","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=74405"},"modified":"2021-02-23T18:22:10","modified_gmt":"2021-02-23T13:22:10","slug":"moodys-expects-pakistans-remittances-grow","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/moodys-expects-pakistans-remittances-grow.html","title":{"rendered":"Moody\u2019s expects Pakistan\u2019s remittances to grow in coming years"},"content":{"rendered":"\n<p>Islamabad: The rating agency Moody\u2019s has forecasted that Pakistan\u2019s remittances will continue to grow in the coming years as a result of the measures announced by the Pakistani government and the State Bank of Pakistan in recent months \u2013 a news source reported on February 23.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/pakistan-economy-grow-1-5-banking-sectors-outlook-stable-moodys.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan economy to grow by 1.5%, banking sector\u2019s outlook to remain stable: Moody\u2019s<\/a><\/p>\n\n\n\n<p>The report notes that the remittances will continue growing over the coming years although the growth rate is expected to slow down. The Pakistan Remittances Initiative and technical advances which have reduced the transaction costs for the remittances through electronic and official channels have been identified as the primary drivers of this growth.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/relief-concessions-construction-industry-buffer-pakistan-economy.html\" target=\"_blank\" rel=\"noreferrer noopener\">Construction industry relief package to buffer Pakistan\u2019s economy against major blows: Moody\u2019s<\/a><\/p>\n\n\n\n<p>The report also notes that the increase is credit positive for Pakistan\u2019s banks, particularly for United Bank since it has a leading market share of around 24% for the remittances as of September 30, 2020.<\/p>\n\n\n\n<p>The development is the opposite of what Moody\u2019s had expected due to the pandemic. Various international organisations had predicted that remittances would remain flat, while World Bank had forecasted a decline in global remittances.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The rating agency Moody\u2019s has forecasted that Pakistan\u2019s remittances will continue to grow in the coming years as a result of the measures announced by the Pakistani government and the State Bank of Pakistan in recent months \u2013 a news source reported on February 23. Read: Pakistan economy to grow by 1.5%, banking sector\u2019s outlook to remain stable: Moody\u2019s The report notes that the remittances will continue growing over the coming years although the growth rate is expected to slow down. The Pakistan Remittances Initiative and technical advances which have reduced the transaction costs for the remittances through electronic and official channels have been identified as the primary drivers of this growth. Read: Construction industry relief package to buffer Pakistan\u2019s economy against major blows: Moody\u2019s The report also notes that the increase is credit positive for Pakistan\u2019s banks, particularly for United Bank since it has a leading market share of around 24% for the remittances as of September 30, 2020. The development is the opposite of what Moody\u2019s had expected due to the pandemic. Various international organisations had predicted that remittances would remain flat, while World Bank had forecasted a decline in global remittances.<\/p>\n","protected":false},"author":57,"featured_media":61098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[14295,39476],"persona":[],"class_list":{"0":"post-74405","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-moodys","9":"tag-remittances-to-pakistan","10":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Moody\u2019s expects Pakistan\u2019s remittances to grow in coming years - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The rating agency Moody\u2019s has forecasted that Pakistan\u2019s remittances will continue to grow in the coming years as a result of the measures\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/moodys-expects-pakistans-remittances-grow.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody\u2019s expects Pakistan\u2019s remittances to grow in coming years - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The rating agency Moody\u2019s has forecasted that Pakistan\u2019s remittances will continue to grow in the coming years as a result of the measures\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/moodys-expects-pakistans-remittances-grow.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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