Karachi, Pakistan – October 12, 2024 — Bank Alfalah and Allied Bank proudly inaugurated the Mohalla Cricket Tournament, a national initiative aimed at promoting legal remittance channels and fostering local community engagement across Pakistan. The event celebrates Pakistan’s deep-rooted passion for cricket while honoring the vital economic role of remittance-rich cities.
The launch ceremony, held at Bank Alfalah’s Head Office, was graced by senior officials from the State Bank of Pakistan, Bank Alfalah, and Allied Bank. The platform highlighted the importance of formal remittance flows in fortifying Pakistan’s economy and recognized the institutions’ efforts in encouraging secure and regulated remittance practices.
“Our goal is to celebrate the immense contributions of these remittance-rich pockets while also spreading a crucial message about the importance of secure and legal remittance channels,” said Farooq A Khan, Group Head of Corporate, Investment and International Business Group, Bank Alfalah.
Qazi Muhammad Zeeshan Ali, Group Head of Financial Institutions, International and Home Remittances at Allied Bank, reiterated the Bank’s commitment, stating:
“Allied Bank strives to provide state-of-the-art services for overseas Pakistanis to ensure the seamless and instant transfer of their hard-earned money. This initiative also underscores our role as a socially responsible corporate citizen contributing to community betterment.”
Why Remittances Matter to Pakistan’s Economy?
In FY 2023-2024, Pakistan received over $30 billion in remittances, marking a 10.7% year-on-year increase. The highest contributions came from expatriates residing in Saudi Arabia, UAE, UK, and the USA. These funds are crucial to maintaining foreign exchange reserves and economic stability.
The State Bank of Pakistan, alongside partner banks, continues to roll out strategic initiatives such as:
These platforms aim to streamline remittance flows and encourage overseas Pakistanis to use regulated and legal channels for fund transfers.
What is Mohalla Cricket?
Mohalla Cricket is more than a sports event — it is a social movement. The tournament is being organized in ten major cities known for high remittance inflows:
Gujrat, Jhelum, Sialkot, Mirpur (AJK), Peshawar, Gujranwala, Faisalabad, Lahore, Hyderabad, and Karachi.
The series will conclude with a vibrant Mela (festival), featuring:
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Cultural performances
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Food and artisan stalls
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Family-friendly games and awareness booths
This initiative will strengthen community ties while spreading awareness about the benefits of using formal remittance channels.