Meezan Bank
Meezan Bank Limited (PSX: MEBL) has introduced its Foreign Currency (FCY) debit card, specifically designed for Pakistani exporters and freelancers who maintain an Exporters’ Special Foreign Currency Account (ESFCA) with the bank. This initiative aims to simplify international transactions and provide users with greater flexibility in managing their finances abroad.
The FCY debit card, powered by Mastercard, is globally accepted, allowing exporters and freelancers to make seamless payments at retail outlets worldwide.
With this new offering, users can access their ESFCA accounts and carry out a wide range of international transactions permitted by the State Bank of Pakistan (SBP) without needing prior approval. This significantly enhances convenience and efficiency for individuals and businesses engaged in cross-border trade and freelance work.
One of the key features of the FCY debit card is its ability to withdraw cash from Mastercard ATMs globally, making it easier for cardholders to access their funds while traveling or conducting business internationally.
Additionally, the card offers a real-time spending tracking feature, enabling users to monitor their transactions and manage expenses effectively.
To enhance security, the FCY debit card is equipped with 3D Secure technology, which adds an extra layer of protection for e-commerce transactions. This ensures that online payments remain safe and secure, reducing the risk of fraud or unauthorized access.
For added convenience, the card also comes with NFC (Near Field Communication) technology, allowing users to make contactless payments at retail stores across the world. This feature is particularly useful in today’s fast-paced digital environment, where quick and secure transactions are essential for businesses and freelancers alike.
Meezan Bank’s launch of the FCY debit card aligns with its commitment to providing innovative financial solutions for its customers, particularly those engaged in export-related activities and freelancing.
By offering a secure, globally accepted, and easy-to-use payment solution, the bank aims to support the growing number of Pakistani professionals working with international clients and businesses.
This initiative is expected to play a significant role in enhancing financial accessibility and ease of doing business for exporters and freelancers.
The ability to conduct hassle-free international transactions without prior SBP approvals marks a major step forward in Pakistan’s banking and financial services sector.
