In a significant move to enhance the disbursement mechanism of the Benazir Income Support Programme (BISP), Chairperson Senator Rubina Khalid met with the Governor of the State Bank of Pakistan, Jameel Ahmad, on February 7, 2025. The meeting focused on the initiation of BISP Kafaalat payments through six designated banks, aiming to provide beneficiaries with more accessible and transparent financial services.
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BISP Kafaalat Payments Initiated Through Six Banks
The Benazir Income Support Programme has partnered with six banks to streamline the disbursement of funds to its beneficiaries. This initiative is designed to reduce dependency on traditional payment methods and combat issues related to agent malpractices.
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Objectives of the Banking Partnership
The collaboration between BISP and the six banks aims to:
- Enhance Transparency: Direct bank transfers minimize the risk of fraudulent activities associated with intermediary agents.
- Improve Accessibility: Beneficiaries can access funds through a wider network of bank branches and ATMs, reducing travel time and associated costs.
- Ensure Timely Disbursement: Automated systems facilitate prompt payments, ensuring beneficiaries receive their stipends without unnecessary delays.
Meeting Between BISP Chairperson and State Bank Governor
During the meeting on February 7, 2025, Chairperson Rubina Khalid and Governor Jameel Ahmad discussed the operational aspects of opening bank accounts for BISP beneficiaries. The Governor assured full cooperation from the State Bank in facilitating this process, emphasizing the importance of financial inclusion for underprivileged women.
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Implementation Strategy for Bank Account Openings
The strategy for integrating bank accounts into the BISP payment system includes:
- Data Sharing: BISP will provide the State Bank with data of eligible women to initiate the account opening process.
- Account Creation: Partner banks will open accounts for beneficiaries, ensuring compliance with regulatory requirements.
- Distribution of Benazir Cards: Beneficiaries will receive Benazir Cards linked to their bank accounts, enabling them to withdraw funds conveniently from ATMs and bank branches.
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Key Details of the BISP Banking Partnership
| Detail | Information |
| Number of Beneficiary Households | Approximately 9.3 million |
| Partner Banks | Bank Alfalah, Bank of Punjab, Mobilink Microfinance Bank, Telenor Microfinance Bank, Habib Bank Limited, HBL Microfinance |
| Quarterly Stipend Amount | Increased from PKR 10,500 to PKR 13,500 starting January 2025 |
| Implementation Start Date | January 2025 |
Expected Benefits for BISP Beneficiaries
The integration of banking services into the BISP payment system is anticipated to:
- Empower Women Financially: Providing women with bank accounts enhances their financial autonomy and decision-making capabilities.
- Reduce Fraud and Exploitation: Direct transfers to bank accounts mitigate risks associated with cash disbursements and agent-related fraud.
- Promote Financial Literacy: Engaging with banking services encourages beneficiaries to develop better financial management skills.
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Conclusion
The collaboration between BISP and six leading banks marks a pivotal step towards modernizing social welfare disbursements in Pakistan. By facilitating direct bank transfers, the initiative aims to enhance transparency, accessibility, and efficiency in delivering financial assistance to millions of deserving families. The proactive measures taken by Chairperson Senator Rubina Khalid and the support from the State Bank of Pakistan underscore a commitment to empowering underprivileged communities through financial inclusion.
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FAQs
How can I check my BISP Kafaalat payment status?
You can check your BISP Kafaalat payment status online by visiting the official BISP 8171 web portal (bisp.gov.pk) and entering your CNIC number.
When did the new bank-based payment system start?
The new system started in January 2025, ensuring direct transfers to beneficiaries’ bank accounts.
What is the new payment amount for BISP Kafaalat?
As of January 2025, the stipend has been increased from PKR 10,500 to PKR 13,500 per quarter.
How will beneficiaries receive their payments through banks?
Beneficiaries will receive Benazir Cards linked to their bank accounts, allowing them to withdraw cash from ATMs or visit designated bank branches.
Can I change my bank for receiving BISP payments?
Currently, beneficiaries cannot choose a bank. BISP assigns banks based on location and accessibility.
What should I do if I face issues withdrawing my BISP payment?
If you face any issues, contact the BISP helpline (0800-26477) or visit the nearest BISP office for assistance.
Do I need to register again for BISP payments through banks?
No, existing beneficiaries will automatically be transferred to the new system. However, new applicants must register through BISP Tehsil offices.
Will BISP payments be delayed due to this new system?
No, the new system is designed to improve efficiency, ensuring timely payments without delays.