NBP to introduce innovative Protection Account to empower women
The National Bank of Pakistan (NBP), dedicated to advancing
social and economic progress, is poised to play a pivotal role in the pilot
launch of the Benazir Income Support Programme (BISP) social protection account
initiative. This groundbreaking endeavor aims to empower women across Pakistan
by facilitating direct payments to beneficiary accounts, fostering financial
inclusion, and driving gender equality.
The recently introduced Benazir Social Protection Account,
inaugurated by the Prime Minister of Pakistan, holds the promise of enabling
women beneficiaries to receive payments directly into their accounts. With a
steadfast commitment to revolutionizing financial access and fostering
empowerment, NBP is collaborating with the State Bank of Pakistan (SBP) and
BISP to redefine how women can access and manage financial resources,
ultimately enhancing their economic success and overall empowerment.
NBP takes the lead in this pilot initiative, marking a
significant milestone in the bank's ongoing efforts to establish a robust
digital financial ecosystem and promote gender parity. The pilot phase
initiative aims to address the challenges faced by women in remote areas,
empowering them to become financially self-reliant and actively engage in the
formal economy.
Commenting on the pilot launch, Imran Farooqui, SEVP/Group Chief
Operations, expressed his enthusiasm, stating, "Our partnership with SBP
and BISP for the launch of the Social Protection Account initiative is a
testament to our commitment to equipping women with the necessary tools for
securing their financial future. Leveraging cutting-edge technology, financial
education, and targeted support, we are resolute in our mission to empower
women and foster sustainable development in the communities we serve. Our
shared focus on reducing gender disparities in financial services aligns
seamlessly with the vision of SBP and BISP, and we take pride in supporting
their endeavors to drive positive transformation."
The NBP's forward-looking approach underscores its dedication to
not only financial excellence but also social impact. Through this innovative
initiative, NBP aims to usher in a new era of financial empowerment for women,
catalyzing their active participation in the economy and contributing to the
overall development of Pakistan.
Source: The News