Peshawar: The Bank of Khyber has signed a memorandum of understanding (MoU) with a digital payment app ‘Easypaisa’ to disburse PKR 2,100 per month to the beneficiaries of the Insaaf Food Program in Khyber Pakhtunkhwa (KP), according to a news published on July 5.
Under the newly-signed agreement, the Insaaf Food Program beneficiaries will be able to get PKR 2,100 transferred into their Easypaisa mobile wallet or collect funds from any Easypaisa agent and cover their essential food-related costs. Overall, the initiative is set to benefit over 5 million people in KP with an annual cost of PKR 25.5 billion to the provincial exchequer.
The MoU was signed by Telenor Microfinance Bank and Easypaisa Chief Executive Officer (CEO) M Mudassar Aqil and Bank of Khyber CEO and Managing Director Mohammad Ali Gulfaraz. Both parties expressed hope that their collaboration will facilitate the provincial residents and smoothen their access to essential food items.
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