JazzCash and Bank of Khyber Enter Strategic Partnership for KPK’s Insaaf Food Programme
Pakistan’s leading fintech JazzCash, in collaboration with Bank of Khyber (BoK), is strengthening the country’s digital payments ecosystem. JazzCash users living in Khyber Pakhtunkhwa (KPK) will now be able to receive PKR 2,100 for the government’s Insaaf Food Programme through the JazzCash retail network and existing JazzCash customers will receive funds in their JazzCash mobile wallets. The signing took place at the BoK office in the presence of Managing Director and CEO BoK, Muhammad Ali Gulfaraz, CEO JazzCash, Atyab Tahir and Chief Financial Officer Mobilink Microfinance Bank Limited, Sardar AbuBakr.
Through this strategic partnership, JazzCash and BoK will facilitate the Govt of KPK for their Insaaf Food Program, which requires BOK to distribute an amount of PKR 2,100 for 1,000,000 KPK individuals who fall within their criteria, for 3 years, every month. Families will be provided easy and convenient payments on their JazzCash Mobile Wallets and if they do not have a JazzCash account, the same will be transferred on their CNICs payments can be cashed out through JazzCash retail network.
Speaking at the occasion, Atyab Tahir, CEO JazzCash, said, “JazzCash executed over 1.7 billion transactions generating a volume of more than 3 trillion for the year 2021. We have a network of 17,000 agents across KPK, with an aim to grow our network even further. Through our mobile wallet, we have always prioritized financial inclusion (Particularly amongst women) in the country and to achieve this, key strategic partnerships like the one with BoK are critical. Through our facilitation of services like food subsidies, healthcare, etc, we are enabling a stronger financial ecosystem in Pakistan.”
MD and CEO BoK, Ali Gulfaraz, commented, “The Insaaf Food Programme is an initiative by the KPK government to facilitate 10 lac impoverished households. BoK through the JazzCash mobile wallet will enable quick and easy accessibility to these financial services for all the deserving families. Enabling an ecosystem of inclusion and promoting economic diversity in Pakistan.
“Financial Inclusion is at the core of Mobilink Bank’s ambitions and the agreement with BoK is another step in enabling this, especially for the people of KPK through the government’s Insaaf Food Programme. We are committed to reaching the masses and leaving no one behind,” said Chief Financial Officer Mobilink Microfinance Bank Limited Sardar AbuBakr
Launched in 2014, JazzCash finished 2021 with 15 million+ monthly active users and 105,000 registered agents nationwide.