KARACHI - Bank Alfalah is proud to be one of two exclusive partners for the delivery of the Prime Minister’s Ehsaas Emergency Cash Programme, a PKR 144 billion fund aimed at supporting communities affected by the country-wide lockdowns due to the coronavirus (COVID-19)
The Ehsaas Emergency Cash Programme is the largest social safety net initiative in Pakistan’s history. In the first phase, 1.5 million beneficiaries located in the remote areas of Khyber Pakhtunkhwa, Gilgit-Baltistan, Azad Jammu, and Kashmir were asked to visit designated locations where Bank Alfalah teams were also present to ensure a smooth delivery. Subsequent phases will extend the support network across Pakistan. Each eligible family will be receiving PKR 12,000 to meet their financial needs.
To facilitate beneficiaries, Designated Bank Alfalah locations are being opened on Saturdays and Sundays for easier access. To reduce exposure, fresh currency notes have been deployed at these locations for disbursement. Designated locations are following strict social distancing measures and Bank Alfalah’s teams are coordinating closely with the government officials for quick and safe processing.
Bank Alfalah has already been working with the Ehsaas Programme on the Ehsaas Kafaalat initiative which supports deserving women across the country. The mechanism and technology in place have been rapidly adapted to cater to communities affected by the coronavirus across Pakistan.
Commenting on this partnership, Atif Bajwa, President and CEO Bank Alfalah said “We are extremely proud to play a role in supporting our citizens in this critical time of need under the Ehsaas Relief. Our remote communities are most financially vulnerable in these circumstances, and we are stepping up to ensure that their needs are catered to. Over the years we have invested in growing our technological and resource capabilities across Pakistan and also our Digital Banking platform Alfa, which allows us to undertake a task of this magnitude with ease and efficiency. We laud the Government’s efforts in this challenging time and stand with them in ensuring the safe and secure delivery of the emergency funds.”
Pakistani rupee remains stable against US dollar in the open market on February 25, 2024 (Sunday).
In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.
Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.
UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.
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