Prime Minister (PM) Imran Khan on Monday has launched Ehsaas Saving Wallets (Ehsaas Bachat Bank Account) Initiative in Islamabad.
Addressing the ceremony, the PM told that the federal government’s Ehsaas Program is considered to be the world’s fourth successful initiative in coronavirus pandemic. The poverty in Pakistan can be reduced by providing employment to the women, he added.
It is to be mentioned here that from now onwards, Ehsaas Kafaalat beneficiaries will have the option of either drawing their money or saving money into digital wallets.
The beneficiaries of Kafaalat program can open these accounts at agent shops or ATMs.
Initial transactions through these accounts will include balance inquiry, cash in and cash out, transfer funds received from Ehsaas to mobile accounts, mobile top up, utility bill payments and money transfers.
The aim of this program is to encourage savings which has shown to help alleviate poverty. It will deepen the financial inclusion initiated under the ‘One Woman One Bank Account Policy’.
Ehsaas Saving Wallets (ESWs) is said to be an essential component of the Ehsaas Financial Inclusion Strategy. The saving wallets initiative is a strategic step forward for Kafaalat households to better manage financial shocks, meet emergency needs, and invest to increase their earnings; to climb out of poverty.
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