BISP using banks to disburse payments to beneficiaries
In a significant milestone, the Benazir Income Support
Programme (BISP) has forged agreements with six banks to facilitate the
disbursement of funds among its 9.3 million beneficiary households. The signing
ceremony, held in Islamabad, saw the participation of Dr. Muhammad Amjad Saqib,
Chairperson of BISP, Secretary Amer Ali Ahmed, heads of partner banks, and
development partners of the program.
Addressing the event, the Secretary of BISP highlighted that
the program previously relied on the services of only two banks, whose
contracts had expired some years ago. However, this expansion marks the
inclusion of a wider array of service provider banks, fostering greater
transparency. This move is projected to annually save Rs 2 billion due to the
competitive environment introduced by the new payment system.
BISP
aims to expand collaboration with banks for transparent payments: Dr. Saqib
With the addition of Bank Al Falah, Bank of Punjab, Mobilink
Microfinance, Telenor Microfinance Bank, Habib Bank Limited, and HBL
Microfinance, there will now be 15 clusters and six banks serving BISP
beneficiaries under broader partnership services. The Secretary further emphasized
the establishment of beneficiary awareness and a grievance redressal system in
collaboration with banks to overcome challenges and ensure a more responsive
system.
Dr. Muhammad Amjad Saqib, Chairperson of BISP, underscored
the collective responsibility towards uplifting the marginalized segments of
society. He stressed the significance of showing love and respect towards women
to bring about positive change in their lives. The ceremony reaffirmed the
commitment of all stakeholders to serve the most vulnerable members of society
with dignity and transparency.
Disbursement
of BISP payments through banks enhances transparency: Kundi
Representatives from Bank Alfalah, Bank of Punjab, Habib
Bank Limited, HBL Microfinance, Mobilink Microfinance, and Telenor
Microfinance, along with international development partners, participated in
the ceremony. Following the event, agreements were signed between
representatives of the partner banks and Naveed Akbar, DG NSER, on behalf of
Benazir Income Support Programme (BISP).
Source: APP