In order to maintain a centralized management system, the home remittance service being offered to the customers is controlled by KKI Home Remittance Dept, functioning at its Corporate Office. Headed by the Manager Operations/Home Remittances, the department consists of educated, skilled and dedicated staff working round the clock with various duties distributed among them. This department provides complete and one window services to its international correspondents. The department has a very close liaison with the Treasury Dept which has excellent terms with the banks as it sales FC to them in handsome quantities on a regular basis. This ultimately helps the HR department to offer lucrative rates to the correspondents enabling them to capitalize these lucrative rates for the receivers here in Pakistan.

Responsibilities

The HR department is responsible for the execution of home remittance transactions in terms of receiving messages from KKI international correspondents either through its special software named “Remitton” or transmitter’s software or through fax and emails. The Home Remittance department maintains records of all correspondents’ along with respective details of their arrangements with KKI, complete record of all transactions and their execution.

Areas of services

KKI offers home remittance service through all its stations working all over Pakistan. With Karachi being the central point, the other stations are located in different cities of the country the number of which is growing rapidly. At present, KKI is offering this service through its nationwide network comprising of the following (as on Sep. 2006):

• Federal Capital
• Punjab
• Sindh
• NWFP
• Baluchistan
• Azad Jammu Kashmir

To know about our entire network click here

Arrangements with International correspondents:

The customers can transit their money in Pakistan safely, quickly and timely through our international correspondents located in various countries of the world. KKI has made these arrangements as per correspondent agreement for cash/bank deliveries in Pakistan. The customers make the payments to our correspondents either by personally visiting them, through banks or online. Here it is necessary to mention that as an essential part of our contracts with the correspondents, KKI has ensured that the following has to be followed before executing any transaction:

• KYC (Know Your Customer) procedures
• Due Diligence in terms of seeking customer’s ID and the nature of transaction

KKI always verifies that its correspondent has followed the required due diligence procedures before accepting a transaction for payment here in Pakistan. At present the correspondents are located in the following countries: (as on 30th sep. 2006)
• United States of America
• United Kingdom
• Canada
• UAE
• Doha, Qatar
• Kuwait
• Australia

Arrangements with the Banks

KKI has made special arrangements with the Treasury Departments of all leading banks of the country for disbursement to the beneficiaries who are their account holders. KKI has opened its Wostro Accounts through some of these banks as well which in fact facilitate the execution of a home remittance transaction. If the customers have accounts with any of our partner banks here in Pakistan, KKI makes direct deposit in their accounts and the deposit slip is uploaded through the software as a confirmation to our correspondents.

For the complete list of our partner banks click here

Modes of Payment to the beneficiary:

The execution of the transaction (payment to the beneficiary) takes place by any of these three modes:

• Payments through Cash at all stations
• Payments through Home Delivery*
• Payments into beneficiary’s bank accounts