SCO and Bank Alfalah Signs Mobile Financial Service Agreement to support 6 million people across Azad Jammu & Kashmir, Gilgit-Baltistan

SCO and Bank Alfalah Signs Mobile Financial Service Agreement to support 6 million people across Azad Jammu & Kashmir, Gilgit-Baltistan

Islamabad: Special Communications Organization (SCO) has joined hands with Bank Alfalah for the provision of Interoperable Mobile Financial Services (MFS) in Azad Jammu & Kashmir (AJ&K) and Gilgit-Baltistan (GB). In this regard, a contract signing ceremony was held between the two organizations on Thursday, July 16th, 2020. This collaboration is a step forward to jointly create the required Digital Financial Services ecosystem in the regions. SCO has also partnered with Bank Alfalah for cash disbursement under Prime Minister’s Ehsaas Kafalat Program (EKP) in AJ&K and GB in April 2020.

This agreement is expected to be a catalyst in extending financial outreach to more than 6 million people across AJ&K and GB through state-of-the-art and secure Digital Banking Services. Through this agreement, multiple services will be extended to customers, including Mobile Wallets for both smart phone and feature phone users, utility bill payments including SCOM, AJ&K and GB Barkyaat and Cash in & Cash out through agents to fulfill the needs of banked as well as the unbanked population of AJ&K and GB.

Speaking at the ceremony, SCO Spokesperson said, “S-Paisa is continuously expanding its footprint in terms of outreach and the services we offer to bring convenience in the lives of our customers. We are proud to be partners with Bank Alfalah for this initiative, as it progresses our vision and allows us to reduce the current divide between the unbanked and banked population of the region.”

Commenting on the occasion, an official of Bank Alfalah said, “Being at the forefront of digital banking and financial inclusion in Pakistan, Bank Alfalah understands the significance of providing access to the marginalized and unbanked Pakistanis living in remote areas of GB & AJ&K. This partnership takes us one step forward in our journey towards financial inclusion and empowerment of the unbanked segments of the country. In these tough times, our teams are devotedly working towards seamless disbursements of the Ehsaas Emergency Cash Program hand in hand with partners like SCO and the Government authorities.”