Karachi, July 22, 2024 - Bank Alfalah, one of the leading commercial banks has been a trusted partner of Benazir Income Support Programme (BISP) for over 12 years, dedicated to the digital social cash transfer programme since 2011. This year Bank Alfalah, along with another partner bank was awarded the contract to serve 7 clusters out of 15 across the country, attaining the largest portfolio as single contracting institution for the BISP. With the signing of the new contract, the Bank will serve 4.3 million beneficiaries, which is 47% of the BISP beneficiary base.
In a recent meeting at BISP Headquarters, between Atif Bajwa, President & CEO of Bank Alfalah, and Muhammad Yahya Khan, Group Head of Digital Banking, conferred with BISP Chairperson Senator Rubina Khalid. The two organisations discussed their mutual readiness for the new clusters with a strong emphasis on treating BISP beneficiaries with the utmost respect and dignity.
The discussion also focused on the Bank, actively developing and implementing new innovative projects aimed at empowering beneficiaries financially as well as providing and continuously promoting financial literacy in order to enable them to become financially independent.
Bank Alfalah has remained resolute in its commitment to support millions of BISP beneficiaries. The Bank has digitally disbursed over PKR 388 billion, since 2011 [FR21] [RM-32] to the recipients, embodying its core values of empathy and responsibility. In a bid to enhance beneficiary support, BISP and Bank Alfalah’s teams are set to jointly develop and implement effective training initiatives, ensuring positive outcomes and impactful assistance for the deserving community.
About Bank Alfalah:
Bank Alfalah is a leading commercial bank in Pakistan, boasting over 1,000 branches across 200 cities and an international presence in the UAE, Bangladesh, Bahrain, and Afghanistan. The bank offers a wide range of products and services, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium enterprise, agricultural, Islamic, and asset financing to both 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 2023, the bank was awarded the best 'Digital Bank' highlighting its commitment to simplifying and improving the financial capabilities of its customers.