9.5M Female Beneficiaries To Have Individual Bank Accounts For Kafalat Stipends!
BISP Senior leadership has made one of the most important and urgent announcements for the beneficiaries during the meeting with the SBP team. In this meeting that was held on 15 April, Monday, they discussed many major issues like disbursement of monthly stipends transparently among the 9.5 million families so that they can successfully overcome the situation of payment deduction by a third Party.
Moreover the BISP team agreed on individual bank accounts for Beneficiaries of Kafalat Program so their money can directly transfer through the designated bank atms.
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BISP Meeting with SBP For Transparent Payment Plan
A new payment method will be implemented by the Benazir Income Support Programme (BISP) to allow the Kafalat Program Is approximately 9.5 million female recipients to receive their financial aid directly into their personal bank accounts.
Following a high-level meeting between BISP Secretary Amer Ali Ahmad, BISP Chairperson Rubina Khalid, and Saleem Ullah, Governor of the State Bank of Pakistan (SBP), the decision was made public on Tuesday. This program seeks to increase financial inclusion for women, guarantee safe transactions, and improve transparency.
9.5 Million Beneficiaries Individual Bank Accounts
In order to give 9.5 million female beneficiaries of the Kafaalat Program individual bank accounts, BISP has introduced a new payment method. The goal of this action is to increase financial independence, security, and transparency for women who receive government assistance.
Importance Of Banking Payment Structure
“This project is revolutionary. Our beneficiaries’ well-being continues to be our first concern. The BISP chairperson was quoted in the announcement as saying, “This endeavor will ensure enhanced transparency and empowerment for millions of women supported by BISP.”
According to an official statement released following the meeting, the proposed project represents a major step toward financial autonomy, openness, and digitization.
Beginning Media Campaign For Seamless Rollout
In order to guarantee the smooth implementation of the new payment system, the BISP Secretary underlined the significance of careful planning and efficient coordination.
In order to increase awareness among beneficiaries, assist them in opening individual bank accounts, and guarantee a seamless and transparent transfer in all regions, he emphasized the necessity of a robust outreach and media effort.
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Pilot Project Of Banking System In 7 District Nationwide
“This is a historic endeavor, and we need to make sure the recipients feel essential to it. To help maximize the advantages of this project, all of our field offices need to be ready,” he stated. For this change to be successful, the SBP deputy governor emphasized the significance of system integration, data matching via web portals, and tight coordination among all parties.
The blueprint for the bank account initiative’s pilot launch in seven areas around the country was finalized during the conference.
Conclusion
The launch of individual bank accounts for 9.5 million female beneficiaries marks a major step toward transparency, financial independence, and secure stipend delivery under the BISP Kafaalat Program. With strong coordination between BISP and SBP, and the support of a nationwide outreach campaign, this new system is set to bring lasting benefits to millions of deserving families.
