The Islamic Corporation for the Development of the Private Sector (ICD) is Committed to Strengthened the Islamic Finance During the COVID 19
Global Islamic Banking and Finance learning series is launched by AlHuda CIBE.
The State Bank of Pakistan has extended a number of measures taken to mitigate the impact of COVID-19 from their original deadline of 30 June / 30 September, to 31 December.
Khushhali Microfinance Bank has contributed PKR 1 million (about $6,067.04) to the Fund to support the government in the fight against COVID-19.
The donation was a part of a local initiative in which FINCA employees contributed a day’s worth of salary towards COVID-19 relief in appreciation of the country’s need in this time of crisis.
Pakistan’s micro, small and medium sized enterprises and individual consumers are set to benefit from the creation of an electronic registry that allows for the country’s financial institutions to use moveable assets as collateral for loans.
In a statement, JazzCash owner Veon, said in addition to an opportunity to widen access to digital payments, the partnership would improve financial inclusion during the COVID-19 pandemic.
In order to curtail the risk of spread of coronavirus and limit the physical interaction of citizens at bank branch level, the State Bank of Pakistan has waived all bank charges for online fund transfer services and the transactions charges on Real Time Gross Settlement System for customers.
FINCA Pakistan is one of the first financial institutions to implement a Work From Home (WFH) plan to ensure the safety of its employees and their well-being while re-assessing the Business Continuity Plan (BCP) to ensure its patrons have access to financial services during the pandemic.