The New Banking System Will Pay 9.5 Million BISP Beneficiaries – Check Out 6 New Partners
Among Pakistan’s most popular organizations, the Benazir Income Support Program works for the betterment of women in society and provides financial support for them so that they can run their families without hardship. The Chairperson of BISP, Rubina Khalid, announced the enrollment of 700,000 new beneficiaries and the partnership of six new banks from the next installments to maintain transparency.
According to her, BISP has created a new banking system to make it easier to give money to worthy women.
Payments will be made by six more banks under BISP new banking system
Rubina Khalid informed the media while in Mardan that a new banking system will be introduced for beneficiaries so they will receive their payments without any deductions. Instead of contracting with one bank, they are contracting with six more banks, which will make it possible for all beneficiaries to receive their monthly payments without delay or deductions.
The BISP has implemented a new financial system that allows money to be paid to worthy women and leverages the services of six institutions, according to Rubina Khalid.
List of Six New Banks To be Added For Payments
Payment distributions will be handled by the following banks:
Expanding the scope of the BISP program – Rubina Khalid, Chairperson
Senator Rubina Khalid, chair of the Benazir Income Support Program (BISP), has stated that President Asif Ali Zardari’s directives are being followed.
She said that 9.3 million worthy families are benefiting from the program and that international agencies, such as the World Bank and the Asian Development Bank, have acknowledged the BISP’s openness. She further includes that from now more than 1 crore beneficiaries will benefit from Benazir Kafalat Program.
International agencies, including the World Bank and the Asian Development Bank, have recognized the openness of the BISP, which benefits 9.3 million worthy families. The Benazir Kafalat Program will also benefit more than 1 crore beneficiaries starting today, she adds.
Why Payments Will Be Given Through New Banks
To reduce complaints about POS agents, BISP is working with six banks to improve the payment procedure under its new payment model.
In the past, the program only used two banks, and their contracts expired several years earlier. However, with this expansion, more banks can offer their services, thus increasing openness. To help beneficiaries more effectively and make the distribution of monies more transparent, the Benazir Income Support program made this big change.
In conclusion
In order to improve transparency and efficiency in the distribution of payments, the Benazir Income Support Program has partnered with six new banks. With this initiative, 9.5 million beneficiaries will be able to receive timely and full payments, while the program’s reach will be expanded to include more deserving families.