Benazir Kafalat Payments Through Banks
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Breaking News: Expansion of Benazir Kafalat Payments Through Additional Banks

Benazir Kafalat Payments Through Banks: The Benazir Income Support Programme (BISP) is partnering with six more institutions to improve how payments are distributed to beneficiaries. This move is intended to make payments easier to obtain, more transparent, and less prone to corruption. Senator Rubina Khalid, the BISP Chairperson, made the news.

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New Payment Model of Benazir Kafalat Payments Through Banks

The BISP originally worked with only two banks, which resulted in numerous challenges, including delays and inefficiencies. To solve these issues, BISP has already added six more banks. The following banks will now deliver BISP payments:

  • Bank Al Falah
  • Bank of Punjab
  • Mobilink Microfinance
  • Telenor Microfinance Bank
  • Habib Bank Limited (HBL)
  • HBL Microfinance

These institutions will make payments more available to beneficiaries by facilitating transfers between JazzCash and EasyPaisa mobile wallets and bank accounts. This move is designed to reduce complaints and make the payment procedure more efficient.

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Category Details
New Partner Banks Bank Al Falah, Bank of Punjab, Mobilink Microfinance, Telenor Microfinance Bank, Habib Bank Limited (HBL), HBL Microfinance
Payment Improvements Transfers between JazzCash and EasyPaisa mobile wallets and bank accounts
Transparency Measures Payment campsites staffed by qualified professionals
Corruption Reduction Digital payment solution developed with MOIT for tracking and reducing corruption

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Purpose of the Partnership

The major purpose of integrating more banks is to give recipients more options for receiving payments. This measure is also expected to improve transparency and accountability in the payment process. The formal agreements with the banks were inked during a ceremony attended by BISP Director General Naveed Akbar and executives from the partner institutions.

Improving Transparency and Reducing Corruption

To ensure that payments are distributed fairly and efficiently, BISP has established payment campgrounds. These campgrounds are manned by qualified professionals who can assist recipients, particularly women, who frequently encounter difficulties in getting their stipends. The deployment of a digital payment solution developed in collaboration with the Ministry of Information Technology (MOIT) increases transparency even more. This digital method makes it easier to track payments and decreases the likelihood of corruption.

Benazir Kafalat Payments Through Banks 2024

Benazir Kafalat Payments Through Banks

Reintroduction of the Poverty Graduation Program

In addition to enhancing payment mechanisms, the BISP has reinstated the Poverty Graduation Program. This program has been halted, but it is now returned to help people become self-sufficient. It provides vocational training to 9.3 million households in Pakistan, allowing them to make a living and support their family. The program includes a variety of skills, allowing participants to select the ones that best match their interests and needs.

Digital Payment Solution

The new digital payment system represents a big step towards upgrading the BISP. By collaborating with MOIT, BISP hopes to ensure that payments are processed swiftly and accurately. This approach also provides for improved money tracking, making it easier to identify and address irregularities. It is a critical instrument in combating corruption and ensuring that beneficiaries receive their payments without incident.

Conclusion

The addition of six more banks to the BISP payment model is an important step toward strengthening the program’s efficiency and transparency. BISP hopes to eliminate complaints and provide fair treatment for all beneficiaries by offering a variety of payment alternatives and establishing dedicated payment locations. The return of the Poverty Graduation Program demonstrates BISP’s dedication to assisting participants in becoming self-sufficient and improving their living conditions.

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FAQs

Which banks are now part of the BISP payment model?

The banks include Bank Al Falah, Bank of Punjab, Mobilink Microfinance, Telenor Microfinance Bank, Habib Bank Limited (HBL), and HBL Microfinance.

What is the purpose of the new payment campsites?

The payment campsites are established to ensure transparency and efficiency in the disbursement of BISP stipends, reducing corruption and mistreatment of beneficiaries.

What is the Poverty Graduation Program?

The Poverty Graduation Program is an initiative aimed at providing skill training to BISP beneficiaries to help them become self-sufficient and support their families.

How will the digital payment solution help?

The digital payment solution, developed in partnership with MOIT, will enhance the tracking and management of payments, making the process more transparent and reducing fraudulent activities.

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