National Savings to introduce new bonds, welfare schemes

Islamabad

After the successful roll out of Rs. 40,000 Premium Prize Bond (Registered), the National Savings is all set to launch Rs100,000 denomination bond soon in addition to other welfare schemes.
In addition, the National Savings would also launch of Shuhada Families Welfare Account and extension of Behbud Saving Certificates for disabled persons, officials sources said. In addition to these schemes, the Overseas Pakistanis Savings Certificates and Shariah Compliant Products were also being considered by the management of the National Savings to facilitate deserving people. The sources said that the National Savings had emerged as a formidable vehicle for financial inclusion with introduction of popular welfare oriented products and registering a large number of customers, of which more than 50% were women.
The efforts of National Savings were being actively supported by the World Bank and Karandaaz (DFID and Bill and Melinda Gates Foundation) through up-gradation of IT system, offering alternate delivery channels (cell phone, internet banking and ATM cards), Enterprise Resource Planning system (ERP), Business Intelligence, Data Warehouse, capacity building and training etc.
The efforts of National Savings in promoting financial inclusion had been lauded and recognized, not only nationally but also internationally, they added. The reputed CFI magazine UK has recently bestowed on National Savings the award for “outstanding performance in promoting financial inclusion-2017”, they added. The award is in fact a recognition of the progress made by National Savings in the last one year on the automation front with two-third of the branches having been connected online and the offering of banking clearing services to the customers.—APP

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