This initiative marks a revolutionary development resulting from the significant meetings held by Senator Rubina Khalid, Chairperson of the Benazir Income Support Programme (BISP), and Amer Ali Ahmad, Secretary of BISP, with representatives of the Bill & Melinda Gates Foundation and Karandaaz Pakistan, an impact investment platform dedicated to driving sustainable economic growth and strengthening financial and social protection systems for inclusion.

Under this agreement, Karandaaz Pakistan will support designing and implementing a pilot project to enhance the use of Raast, Pakistan’s instant payment system, for BISP beneficiary payments in targeted districts. Additionally, Karandaaz will oversee the successful execution of a nationwide Digital and Financial Literacy Training program for BISP beneficiaries, ensuring they have the necessary skills to navigate digital financial systems effectively. The agreement was signed by BISP DG (Cash Transfers) Naveed Akbar and Karandaaz Chief Digital Officer Sharjeel Murtaza.

The signing ceremony occurred today at the BISP Headquarters and was presided over by BISP Chairperson, Senator Rubina Khalid. The event was attended by Secretary BISP Amer Ali Ahmad, Additional Secretary Dr. Tahir Noor, and Director Generals from various departments. Waqas Ul Hasan, CEO of Karandaaz Pakistan, Syed Ali Mahmood, Country Lead for the Bill & Melinda Gates Foundation, Sharjeel Murtaza, Chief Digital Officer of Karandaaz and Samia Salik, Gender Lead of Karandaaz, were present on the occasion.

Speaking at the ceremony, Senator Rubina Khalid highlighted the importance of the agreement, stating that BISP remains steadfast in its commitment to improving the lives of beneficiaries and is continually working to simplify and enhance the efficiency and transparency of its fund’s transfer mechanism. She described the agreement as a revolutionary step that ensures the full and transparent payment of assistance funds while maintaining the dignity and self-respect of deserving women. She further emphasized that BISP’s mission is to facilitate payments with complete transparency while upholding the self-respect and catering the needs of BISP beneficiaries.

Waqas ul Hasan, CEO Karandaaz Pakistan, said at the ceremony, “This partnership with BISP is a testament to Karandaaz’s dedication to fostering financial inclusion and leveraging innovative digital solutions to improve lives. By integrating Raast, a state-of-the-art payment system, into the disbursement process and equipping beneficiaries with essential digital and financial literacy skills, we aim to enhance transparency, efficiency, and empowerment for millions of deserving individuals. This transformative initiative aligns perfectly with our shared vision of driving sustainable economic growth and strengthening social protection systems in Pakistan.”