ISLAMABAD: The State Bank of Pakistan (SBP) has revised the Facilitation Framework for Benazir Income Support Programme (BISP) Sahulat Accounts, aiming to streamline the process for direct financial aid disbursement to beneficiaries. The revision directs all banks and microfinance banks to facilitate the opening of accounts for BISP beneficiaries to ensure efficient and secure payments.
The revised framework will initially be implemented in major cities, including Karachi, Lahore, Islamabad, Quetta, Peshawar, Muzaffargarh, Muzaffarabad, and Gilgit as part of a pilot phase. The initiative will be expanded to other cities and districts after evaluation and necessary adjustments.
Under the new process, BISP will securely share verified beneficiary information with banks, including CNIC details, name, date of birth, and residential address. Banks will then screen the data against designated and proscribed persons lists before proceeding with the account opening at BISP-identified branches.
Once the account is set up, IBANs will be shared with BISP, but accounts will remain inactive until the beneficiary completes the activation process. Beneficiaries will receive SMS notifications and updates through a web portal about their designated bank, branch, and the scheduled visit date for activation.
To activate their accounts, beneficiaries must visit the designated bank branch with a valid CNIC, where Biometric Verification (BV) will be conducted. If BV is not possible due to valid reasons, NADRA Verisys will be used for verification. Beneficiaries will also provide additional information, including CNIC issuance/expiry dates, place of birth, parent/spouse details, and mobile numbers.
For compliance purposes, verbal consent will be obtained for FATCA/CRS requirements, and the acceptance of terms for due diligence and supervisory purposes. After account activation, banks will begin issuing cheque books with a minimum of five leaves. Where BV cannot be completed, PayPak debit cards will be issued, and PIN generation will be facilitated in the following visit via call centers, ATMs, SMS, or other means.
Once the accounts are activated, BISP will transfer funds via RAAST/IBFT, allowing beneficiaries to withdraw money using cheques or debit cards during their second visit to the bank. Cheque withdrawals will require a thumb impression, while NADRA Verisys will be used for verification where BV is not possible. Internet and mobile banking services will not be available for these accounts.
Banks will also ensure BV-based withdrawals through branches and ATMs, with cheque-based payments continuing until this functionality is fully in place. Debit card holders will be able to withdraw funds at any ATM without incurring off-us transaction charges.
To ensure smooth implementation, the SBP has instructed banks to set up dedicated teams for coordination with BISP, provide training for staff, and establish mechanisms for timely complaint resolution and 24/7 customer support services.
