Telenor Pakistan, Telenor #Microfinance Bank partner with #BISP
ISLAMABAD: Telenor Pakistan and Telenor Microfinance Bank have partnered with the Benazir Income Support Program (BISP) to facilitate its beneficiaries across Pakistan in several ways that include creating business opportunities, granting micro credit, and extending support in education and health in the long run.
As per the agreement, Telenor Pakistan and Telenor Microfinance Bank will select BISP beneficiaries as potential retailers for GSM & Financial products. Telenor Pakistan will give the chosen beneficiaries a unique opportunity to become retailers of its GSM products and services and thus improve their source of livelihood. Telenor Pakistan will pilot this initiative in Chakwal District among 20,000 beneficiaries, which will be later scaled to 34 Districts with a reach to 1.2 million people. Moreover, Telenor Pakistan will enlist BISP as a partner for its CSR contributions be it in kind or cash, to help support beneficiaries in emergency situations or natural disasters, said a press release issued here on Thursday.
Through the partnership, Telenor Microfinance Bank will reach out to the beneficiaries identified by BISP to assess their credit worthiness and provide them with micro-loans. In the process, the Bank will also educate customers on the uses of m-Wallets, handling and repaying of the micro-loans, and graduating to higher loan amounts. The customers will also be offered a term-life insurance product with natural and accidental death covers of PKR 100,000 including pre-existing conditions.
“We are pleased to have joined hands with Telenor Microfinance Bank and BISP to extend the best of our contributions to the deserving citizens,” said Haroon Bhatti, Chief Business Officer, Telenor Pakistan. “All three of the agreement partners including Telenor Pakistan, Telenor Microfinance Bank, and BISP share the vision of an empowered Pakistan where every citizen has access to opportunities and solutions to improve means of their livelihood and provide a better lifestyle to their family. The partnership also aims to fight unemployment as more people will be able to start their own business.”
“This partnership is of great significance to us as it enables the underserved by providing them access to flexible micro-loans.” said Khurram Malik, Head of Branchless Banking, Telenor Microfinance Bank. “Driven by our mission of empowering societies, we will continue to lead in innovating financial solutions to the people of Pakistan and contributing to the country’s vision 2025.”
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