PRESS RELEASE
Karachi, March 1, 2023: Bank Alfalah, the biggest corporate donor for the flood-affected communities, has partnered with Karachi Relief Trust (KRT) to fund the construction of low-cost sustainable housing for PKR 50 million. Bank Alfalah came to the forefront with a strategic plan for redeveloping communities in a viable, equitable and financially inclusive way.
The collaboration with KRT is focused on providing cost-effective housing solutions in the regions affected by floods. Through this association with Bank Alfalah, KRT intends to reconstruct two clusters of villages that were ravaged by the floods. The two clusters will consist of 70 homes each, with an estimated cost of PKR 350,000 per house.
The signing of the agreement took place at Bank Alfalah's Karachi Head Office, with the presence of its top leadership and senior management, including Atif Bajwa- President and CEO, Faisal Farooq Khan- Chief Human Resource Officer, Adnan Asdar-Founder and Trustee and Khayam Husain from KRT, among other notables. The donated amount to KRT will facilitate the rebuilding of infrastructure in the medium to long term, aiding the affected areas in returning to normalcy. Bank Alfalah recognizes the importance of sustainable redevelopment following a disaster of this magnitude, not just for rehabilitation and reconstruction purposes but also to prevent and mitigate any future impact of such floods.
Atif Bajwa, President and CEO of Bank Alfalah, spoke on occasion and expressed his commitment to supporting this initiative.
“Bank Alfalah is leading from the front by collaborating with esteemed charities such as the KRT to rebuild the lives of flood-impacted communities for a successful way forward. In the event of an unparalleled disaster, it is imperative that all individuals and organizations unite to offer continuous support to those affected. Through our collective efforts to contribute towards sustainable housing, numerous impacted communities will return to normalcy, resume their journey, and realize their potential for a brighter future.”
"The partnership enables us to sow the seeds of change through our program ‘Reimagine: Build Back Better.’ Together with Bank Alfalah, we can have a significant impact on the lives of flood affected families. We are proud to have Bank Alfalah as our partner in this effort." said Khayam Husain, Trustee of KRT.
Bank Alfalah collaboration has been part of the two-pronged approach, which includes 1) Rescue and Relief and 2) Rebuilding and Rehabilitation. In 2022, during the first phase, KRT and the Bank joined hands to provide relief worth PKR 25 million, including ration distribution, winter jackets and tents in flood-affected districts of Sindh and Balochistan.
About Bank Alfalah:
Bank Alfalah is a leading commercial bank in Pakistan with over 900 branches across 200 cities and an international presence in the UAE, Bangladesh, Bahrain, and Afghanistan. The bank offers various products and services, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium enterprise, agricultural, Islamic, and asset financing to private-sector institutions and governments.
In 2018, Bank Alfalah launched its digital banking group, setting a high standard for the industry to follow with its Alfa app, a revolutionary new application that brings together an unprecedented range of services and features all in one convenient platform. In 2022, the bank was awarded the best 'Digital Bank' and 'Housing Finance' across Pakistan, highlighting its commitment to simplifying and improving the financial capabilities of its customers.
Media Contact:
Talha Hyder
Assistant Manager Corporate Communication
talha.hyder@bankalfalah.com
Rida Manzoor
Manager Corporate Communication
rida.manzoori@bankalfalah.com
Fawad Khan
Head of Media
Media Matters Communication
fawad@mediamatters.com.pk