In a groundbreaking move towards social empowerment, Bank Alfalah, one of Pakistan’s leading commercial banks, has announced the expansion of its collaboration with the Benazir Income Support Programme (BISP). This initiative is set to facilitate digital social cash transfers for 4.4 million women beneficiaries across Pakistan over the next three years.
Driven by a steadfast commitment to advancing the social and financial empowerment of women, Bank Alfalah has been actively engaged with BISP in its digital social cash transfer program since 2011. The bank’s pivotal role has earned it the distinction of being the single largest Financial Institution entrusted with servicing 4.4 million women beneficiaries, constituting an impressive 47% of the total beneficiaries under the program.
The expanded partnership will see a portion of these beneficiaries being served digitally, while others will be catered to through Bank Alfalah’s joint venture partner bank for digital social cash transfers.
Utilizing cutting-edge technologies such as biometric verification, geo-fencing, and other digital security measures, Bank Alfalah is poised to efficiently manage the largest digital social cash transfer program in the country.
This significant step not only underscores Bank Alfalah’s unwavering dedication to fostering financial inclusion but also underscores its pivotal role in driving positive social change and empowerment, particularly among women, across Pakistan.
