Bank Alfalah, one of the largest commercial banks in Pakistan signed an agreement with Karandaaz to expand the female agent network in Pakistan. This partnership was signed in the presence of Karandaaz Chairperson Salim Raza, Bank Alfalah President and CEO Atif Bajwa, Karandaaz CEO Waqas ul Hasan, Group Head Digital Banking Group Muhammad Yahya Khan and other senior members of Bank Alfalah and Karandaaz.
The partnership aims to promote women’s financial inclusion in Pakistan and is aligned with the objectives of Karandaaz’s Women’s Financial Inclusion (WFI) programme. This collaboration is a significant step towards fostering economic empowerment and accessibility in the financial sector.
The focus of this strategic partnership is to scale up Bank Alfalah’s female agent network, specifically in the digital branchless banking realm, aiming to actively engage in providing services such as Home Remittance, G2P disbursements, e-commerce and QR transactions, money transfer, utility bill payment, and airtime-related transactions.
In line with the collaboration, Bank Alfalah will onboard female agents across various regions of the country and technically enable them with appropriate use such as remittances where our female customers will be more comfortable in getting serviced and sharing their phone numbers.
Karandaaz CEO Waqas ul Hasan added, “Our collaboration with Bank Alfalah underscores Karandaaz’s dedication to digitalization and financial inclusion with a gender lens.
This network expansion contributes to the broader objectives of the State Bank of Pakistan’s Banking on Equality policy, while also setting a precedent for other financial institutions to follow suit.
