The Benazir Income Support Programme (BISP) expanded the banks to withdraw quarterly installments of Rs. 10,500 to households enrolled in the BISP.
In order to distribute payments to its 9.3 million eligible households , the BISP inked agreements with six more banks, as it was previously relying solely on the services of two banks.
Following multiple complaints from the public over the challenges they had when withdrawing their quarterly installment, the decision was made.
Since its 2008 inception, the Kafaalat initiative has grown to become Pakistan’s largest single cash distribution program. Its goals are both immediate and long-term.
The initiative’s short-term goal is to shield marginalised populations from the detrimental consequences of rising inflation, the food crisis, and slow economic growth.
The programme long-term goals are to empower women and end extreme and chronic poverty, as outlined in the Sustainable Development Goals (SDGs).
Over 9.3 million worthy households nationwide are presently receiving financial help from the Benazir Income Support Program, and the government now plans to raise that figure to 10 million by the next year.
List of banks to withdraw BISP kafaalat installments
Beneficiaries of the BISP are served by six banks and 15 clusters. The installment of Rs. 10,500 per quarter can be withdrawn by registered BISP beneficiaries from ATMs operated by Bank Al Falah, Bank of Punjab, Mobilink Microfinance, Telenor Microfinance Bank, Habib Bank Limited, and HBL Microfinance nationwide.
The recipients can take out the quarterly installment from any ATM in Pakistan that belongs to the approved banks.
