Daily Times

The Bank of Punjab has signed a Memorandum of Understanding (MoU) with Pakistan Post Office Department (PPOD) for the provision of subsidized loans for Digital Franchised Post Office (DFPO) under the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme to Applicants Shortlisted and referred by PMKJ-YES. Under the MOU, PPOD shall act as a lead generator for BOP while BOP would act as a mandate finance provider under PMKJ-YES to the applicants shortlisted and referred by PPOD for provision of subsidized loans. BOP will also impart any required training to PPOD for creating awareness among Applicants Shortlisted regarding PMKJ-YES and application submission for DFPOs.

Speaking at the occasion, Zafar Masud, President & CEO, The Bank of Punjab assured BOP’s firm commitment in supporting government’s initiatives like Kamyab Jawan. He reaffirmed BOP’s commitment to take the program with PPOD to the next level by scaling it up further through this collaboration. He also stated that such initiatives with institutions like Pakistan Post having a huge setup will help BOP to grow further to new levels and pursue other expansion strategies in the area of digitalization and valued customer experience. He also thanked the honorable minsters and PPOD team for hosting BOP at their premises and giving opportunity for partnership with Pakistan Post.

Usman Dar SAPM Youth Affairs expressed that this MoU will help to scale up and keep the process of loan disbursement transparent. This will also increase the employment opportunities for youngsters.