BISP, SBP to develop new banking model for payment disbursement to beneficiaries

By MG News | October 02, 2024 at 11:12 AM GMT+05:00

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October 02, 2024 (MLN): Benazir Income Support Programme (BISP) and the State Bank of Pakistan (SBP) are jointly working on the development of a new banking model for the disbursement of payments to over 9.3 million BISP beneficiaries, APP reported.

In a Zoom meeting, Secretary BISP, Amer Ali Ahmed, and Deputy Governor State Bank of Pakistan, Saleemullah discussed the progress of the new banking model.

The Deputy Governor SBP assured full cooperation to streamline and improve the payment process.

He informed that SBP was ready to develop a pilot and BISP has to finalize the internal mechanics of the implementation strategy.

The joint objective of BISP and SBP is to ensure transparency and disbursement to beneficiaries in a dignified manner.

It is expected that once the pilot is launched, the long queues in front of Bank agents will be extinct.

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