Bank Alfalah, Pakistan’s leading banking institution, has entered into a strategic arrangement with Pakistan Telecommunication Employees Trust (PTET) for the disbursement of pension to its pensioners through dedicated digital branchless banking wallets. This arrangement would usher in a great deal of ease and convenience to pensioners in receiving their monthly pensions.
The MoU was signed by Group Head Retail South and New Initiatives – Bank Alfalah Mehreen Ahmed, and Managing Director – Pakistan Telecommunications Employee Trust (PTET) Hamid Farooq, in presence of senior officials and stakeholders from both the organisations.
At present, PTET has around 40,000 pensioners. These pensioners sometimes have to wait in long queues to collect their source of sustenance.
Bank Alfalah, under its commitment to creating a shared value for the communities it serves, moved to extend ease and convenience to the pensioners. The bank will issue dedicated branchless banking wallets and debit cards to disburse pension to pensioners. The arrangement will give them the option to receive their pensions directly into their accounts without the need to visit post offices. With this convenient and hassle-free service, the pensioners will be able to collect their pensions at any of the 10,000 ATMs across the country.
