9.5M Women To Receive Kafalat Stipends Through Their Own Bank Accounts
During the recent meeting with the SBP team on Monday, 15 April, BISP Senior leadership addressed several crucial matters concerning the beneficiaries. One key announcement was regarding the transparent distribution of monthly stipends to all 9.5 million families. This measure aims to alleviate any issues caused by third-party payment deductions.
Furthermore, the BISP team reached a consensus on implementing individual bank accounts for Kafalat Program Beneficiaries. This will enable their funds to be transferred directly through designated bank ATMs.
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The Benazir Income Support Programme (BISP) will soon introduce a new payment system for the Kafalat Program. It will benefit around 9.5 million female beneficiaries who will receive financial support directly in their personal bank accounts.
بے نظیر انکم سپورٹ پروگرام جلد ہی کفالت پروگرام کے لیے ادائیگی کا نیا نظام متعارف کرائے گا۔ اس سے تقریباً 9.5 ملین خواتین مستفید ہوں گی جنہیں براہ راست اپنے ذاتی بینک کھاتوں میں مالی مدد ملے گی۔ بی آئی ایس پی کے سیکریٹری عامر علی احمد، چیئرپرسن روبینہ خالد اور اسٹیٹ بینک کے گورنر سلیم اللہ کے درمیان ایک اعلیٰ سطحی میٹنگ کے بعد یہ اعلان منگل کو کیا گیا۔ اس پروگرام کا مقصد خواتین کے لیے مالی شمولیت کو فروغ دینا، محفوظ لین دین کو یقینی بنانا اور شفافیت کو بڑھانا ہے۔
After a high-level meeting between BISP Secretary Amer Ali Ahmad, Chairperson Rubina Khalid, and SBP Governor Saleem Ullah, the announcement was made on Tuesday. The program aims to promote financial inclusion for women, ensure secure transactions, and enhance transparency.
9.5 Million BISP Beneficiaries to Receive Payments via Individual Bank Accounts
To provide greater financial autonomy and transparency for the 9.5 million female recipients of the Kafaalat Program, BISP has implemented a fresh payment system. This initiative aims to enhance independence and security for women who rely on government aid.
the Importance of a Secure Banking Payment Structure
This project is truly groundbreaking. The primary focus of our efforts remains the well-being of our beneficiaries. In the statement, “The BISP chairperson emphasized that this initiative will bring about increased transparency and empowerment for the millions of women who are supported by BISP.”
As per the official statement published after the meeting, the proposed plan symbolizes a significant move towards achieving financial independence, transparency, and digitalization.
Effective Media Campaign Strategy for Smooth Program Launch
To ensure the successful implementation of the new payment system, the BISP Secretary emphasized the importance of meticulous planning and effective coordination.
To enhance the knowledge of beneficiaries, aid them in creating personal bank accounts, and ensure a smooth and open transfer process across all areas, he stressed the importance of a strong outreach and media campaign.
Pilot Banking System Launched in 7 Districts Across Pakistan
The upcoming project is of great historical significance, and the recipients must play a vital role in its success. In order to fully benefit from this endeavor, our field offices must be prepared. The SBP deputy governor stressed the importance of system integration, data matching through web portals, and seamless coordination between all parties for the change to be successful.
During the conference, the plan for launching the bank account initiative in seven different areas across the country was finalized.
Conclusion
The implementation of personal bank accounts for 9.5 million female beneficiaries is a significant advancement towards transparency, financial autonomy, and reliable stipend distribution through the BISP Kafaalat Program. By fostering close collaboration between BISP and SBP, and with the assistance of a countrywide promotional effort, this innovative approach is poised to provide long-term advantages to numerous deserving households.