The BISP Kafaalat Program Banks List has been significantly expanded to distribute quarterly installments of Rs. 10,500 to enrolled households. Previously, only two banks were responsible for these payments, but due to public concerns about accessibility, the program has now partnered with six more banks to streamline the withdrawal process for its 9.3 million beneficiaries.
To better serve the growing number of households, BISP has taken this step in response to complaints about the challenges recipients faced when accessing their funds. With the expansion of the BISP Kafaalat Program Banks List, it’s now easier for eligible households to withdraw their payments from a wider range of financial institutions across Pakistan.
Since its establishment in 2008, the BISP Kafaalat Program has grown to be Pakistan’s largest cash distribution initiative. It aims to provide immediate financial relief to marginalized communities, helping them cope with inflation, the ongoing food crisis, and sluggish economic growth.
Moreover, the program has long-term objectives, including women’s empowerment and the eradication of extreme poverty, which aligns with the Sustainable Development Goals (SDGs).
Currently, more than 9.3 million households receive financial support, and the government is aiming to increase that number to 10 million by next year. Beneficiaries can withdraw their installments from any of the banks included in the BISP Kafaalat Program Banks List, which now comprises Bank Al-Falah, Bank of Punjab, Mobilink Microfinance, Telenor Microfinance Bank, Habib Bank Limited, and HBL Microfinance.
These recipients can access their quarterly payments of Rs. 10,500 through ATMs nationwide, ensuring a smoother process and greater accessibility.
Also Read: BISP to Empower Women Beneficiaries with Smartphones
