DIB Pakistan & Pocket Money unlock seamless USD inflows for home remittances and freelancers nationwide

Pakistan’s financial regulator has approved a new digital payments use case enabling individuals to convert US dollar earnings into rupees through a regulated channel, in a move aimed at improving compliance and expanding access to formal financial services.

The approval granted by the State Bank of Pakistan follows an application submitted by Dubai Islamic Bank Pakistan to operationalise a structured framework for cross-border cashouts in local currency.

The service will be delivered through a partnership with Pocket Money, allowing users to convert US dollar inflows into rupees more efficiently across Pakistan.

The initiative targets Pakistan’s growing base of freelancers, remote workers, and remittance recipients, sectors that increasingly rely on digital platforms to receive international payments but often face delays or compliance hurdles when converting foreign currency earnings.

Executives from both organisations said the collaboration is intended to strengthen the country’s digital payments ecosystem by combining regulated banking infrastructure with a user-focused digital platform capable of processing cross-border transactions at scale.

The partners aim to create a secure and compliant pathway for international inflows, supporting faster settlement of foreign earnings while encouraging greater participation in the formal economy.

The arrangement also reflects a broader shift within Pakistan’s financial sector toward digitisation and regulatory oversight of cross-border transactions, particularly as freelance exports and remote work income continue to expand in volume and economic significance.