Senator Rubina Khalid, Chairperson of the Benazir Income Support Program (BISP), and BISP Secretary Aamir Ali Ahmed met with State Bank Governor Jamil Ahmed in Karachi. They discussed rapidly deploying digital wallets for BISP payments nationwide, marking a major step towards financial inclusion for women beneficiaries.
Prime Minister’s Cashless Economy Vision
The meeting highlighted the transition to digital wallet-based BISP payments, aligning with the Prime Minister’s cashless economy initiative. Officials noted progress in implementing secure digital payment solutions tailored for women beneficiaries.
Pakistan’s digital payment strategy aims to modernize social protection programs by reducing cash use and enhancing transparency in financial services.
Strategic Initiatives for Financial Inclusion
Transparent Payment Systems
BISP intends to create a transparent, accessible payment system for its beneficiaries. This digital approach boosts accountability and minimizes payment processing delays.
Interoperability for Universal Access
The new interoperability mechanism allows fund withdrawals from any bank in Pakistan, eliminating branch restrictions. This offers broader banking access and convenience.
Women’s Financial Autonomy and Economic Growth
Officials emphasized that digital wallets will promote financial inclusion, enhance women’s financial autonomy, and increase economic participation. Direct banking access supports wider economic growth objectives.
Implementation Timeline and Key Actions
Accelerated SIM Distribution
Beneficiaries are receiving free mobile SIMs to facilitate the digital payment platform transition. SIMs must be collected from BISP offices by June 15, 2026.
Enhanced Awareness Campaign
BISP has launched an intensive awareness campaign to ensure the digital payment system’s accessibility. Training sessions are being conducted to help users effectively navigate new banking technology.
State Bank’s Institutional Support
State Bank Governor Jameel Ahmad confirmed extensive institutional support for BISP beneficiaries. He committed to developing user-friendly digital payment systems, with the central bank offering technical assistance and regulatory oversight during the rollout.
This collaboration between the State Bank and BISP marks a significant step towards creating a secure, accessible payment system, integral to digitizing social protection payments and achieving the cashless economy vision.
