Bank Alfalah to disburse pensions via digital wallets

Amanullah Khan


Bank Alfalah, Pakistan’s leading banking institution, has entered into a strategic arrangement with Pakistan Telecommunication Employees Trust (PTET) for disbursement of pensions to its pensioners through dedicated digital branchless banking wallets. This arrangement would usher in great deal of ease and convenience to pensioners in receiving their monthly pensions. The MoU was signed by Mehreen Ahmed, Group Head Retail South and New Initiatives – Bank Alfalah, and Hamid Farooq, Managing Director – Pakistan Telecommunications Employee Trust (PTET), in presence of senior officials and stakeholders from both the organizations. At present, PTET has around 40,000 pensioners. These pensioners sometimes have to wait in long queues to collect their source of sustenance. Bank Alfalah, under its commitment to create shared value for the communities it serves, moved to extend ease and convenience to the pensioners. The bank will issue dedicated branchless banking wallets and debit cards to disburse pension to pensioners. The arrangement will give them option to receive their pensions directly into their accounts without the need to visit post offices.

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