Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework
Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework The Benazir Income Support Program (BISP) aims to streamline financial assistance by enabling beneficiaries to receive funds directly into their bank accounts. Initially, this framework will be piloted in Karachi and Lahore. Based on the pilot’s success, it will expand to other cities. Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework. Read:Bisp Portal update before Eid ul Azha
Onboarding of BISP Beneficiaries
Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework Banks are required to securely receive account opening information from BISP. This information must include:
- Beneficiary’s full name (as per CNIC)
- Father’s/Spouse’s name
- CNIC number
- Date of birth
- Mobile number
- Residential address
Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework Before forwarding information to banks, BISP must verify the validity of beneficiaries’ CNICs. Once received, banks will screen the information against United Nations Security Council (UNSC) lists and the Anti-Terrorism Act, 1997, among other relevant lists. Following successful screening, banks will open accounts in designated branches, generate IBANs, and share them with BISP securely. Funds will be disbursed into these accounts via RAAST/IBFT. Initially, these accounts will remain inactive and debit blocked until further activation steps are completed.
Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework
Accounts/ATM Activation and Disbursement
Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework To activate the accounts, beneficiaries must visit the relevant bank branch and undergo Biometric Verification (BV) with liveness checks. If BV is not possible due to valid reasons, banks must document these reasons, perform NADRA Verisys for verification, and notify BISP. Additional information required from beneficiaries includes:
- Date of issuance and expiry of CNIC
- Place of birth
- Mother’s maiden name
Banks will also obtain oral consent from beneficiaries for the following:
- Foreign Account Tax Compliance Act (FATCA)/Common Reporting Standard (CRS) compliance
- Acceptance of Terms and Conditions (T&Cs)
- Use of information/documents for due diligence and supervisory purposes
Benazir Income Support Program (BISP) Sahulat Account Facilitation Framework After account activation, banks will provide beneficiaries with pre-activated PayPak cards (debit and ATM cards) in sealed envelopes. PIN generation for these cards will be facilitated during the account activation visit. Banks may use various options to facilitate this process. Read: Kisan Card Loan Online
Quick Details
| Aspect | Details |
|---|---|
| Pilot Locations | Karachi and Lahore |
| Beneficiary Information Required | Full name, father’s/spouse’s name, CNIC number, date of birth, mobile number, residential address |
| Account Screening | Against UNSC lists and the Anti-Terrorism Act, 1997 |
| Account Activation Method | Biometric Verification (BV) or NADRA Verisys |
| Additional Information for Activation | CNIC issuance & expiry date, place of birth, mother’s maiden name |
| Consent Needed | FATCA/CRS, T&Cs acceptance, use of information/documents |
| Card Provided | Pre-activated PayPak cards |
| Fund Disbursement Method | RAAST/IBFT |
FAQs
1. What is the purpose of the BISP Sahulat Account?
The purpose is to enable BISP beneficiaries to receive financial assistance directly into their bank accounts.
2. How will the accounts be initially set up?
Banks will receive verified information from BISP, screen it against relevant lists, open accounts, and share IBANs with BISP for fund disbursement.
3. How will beneficiaries activate their accounts?
Beneficiaries must visit a bank branch for Biometric Verification or NADRA Verisys. Additional personal information will also be required.
4. What type of cards will beneficiaries receive?
Beneficiaries will receive pre-activated PayPak cards which function as debit and ATM cards.
5. What consents are required from beneficiaries?
Beneficiaries must give oral consent for FATCA/CRS compliance, acceptance of Terms and Conditions, and use of their information for due diligence.
By implementing this framework, BISP aims to improve the efficiency and security of financial assistance delivery to beneficiaries across Pakistan. The pilot phase in Karachi and Lahore will provide insights and adjustments needed for broader implementation.