9.5 Million BISP Beneficiaries Will Be Paid From New Banking System – Check 6 New Partners

Benazir Income Support Program is Pakistan’s most popular organization working for the betterment of the women in society and supports them financially so that they can run their families without any hardship. To expand this program, Chairperson Rubina Khalid has announced the enrollment of 700,000 New Beneficaire and to maintain the transparency in the program she declared the partnership of 6 new banks with BISP from the Next Installments.

9.5 Million BISP Beneficiaries Will Be Paid from New Banking System - Check 6 New Partners

She said that to make it easier to give money to worthy women, BISP has created a new banking system.

BISP New Banking System – Payments Will Be Given From 6 More Banks 

Speaking with the media while in Mardan, Rubina Khalid, announced the new banking system will be introduced to the beneficiaries so that they can receive their payments without any deduction this time they are contracting with six more banks instead of one single so in this way all the beneficiaries can receive their monthly installments without any delay and deduction.

According to Rubina Khalid, the BISP has implemented a new financial system that enables the payment of monies to worthy women and leverages the services of up to six institutions.

List of Six New Banks To be Added For Payments

The list of banks that have been contracted to handle payment distributions includes:

  • Bank Al Falah, 
  • Bank of Punjab, 
  • Mobilink Microfinance, 
  • Telenor Microfinance Bank, 
  • Habib Bank Limited (HBL), 
  • and HBL Microfinance.

Scope Of BISP Program Being Expanded – Chair Person Rubina Khalid 

The Benazir Income Support Program (BISP) chair, Senator Rubina Khalid, has declared that President Asif Ali Zardari’s directives are being followed to expand the program’s reach.

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.

Why Payments Will Be Given Through New Banks

BISP is collaborating with six banks to improve the payment procedure under its new payment model to reduce complaints regarding POS agents.

The program was only using two banks, and their contracts had expired several years prior. However, this expansion also makes it possible for more banks to provide their services, which will boost openness. This big change was made by the Benazir Income Support program to help beneficiaries more effectively and make the distribution of monies more transparent. 

Conclusion

The Benazir Income Support Program’s partnership with six new banks marks a significant step forward in improving the transparency and efficiency of payment distribution. This initiative not only ensures timely and full payments to 9.5 million beneficiaries but also expands the program’s reach to support more deserving families across Pakistan.