National Savings Announces To Launch New Bonds
ISLAMABAD, Pakistan: The National Savings will soon launch Rs 100,000 denomination bond, Shuhuda Families Welfare Account, and extension of Behbud Saving Certificates for disabled persons, official sources said.
In addition, the Overseas Pakistanis Savings Certificates and Shariah Compliant Products are also being considered by the management of the National Savings to facilitate deserving people.
Sources said that the National Savings has emerged as a formidable vehicle for financial inclusion with the introduction of popular welfare-oriented products and registering a large number of customers, of which more than 50 percent are women.
The efforts of National Savings are being actively supported by the World Bank and Karandaaz (DFID and Bill and Melinda Gates Foundation) through up-gradation of IT system, offering alternate delivery channels (cell phone, internet banking, and ATM cards), Enterprise Resource Planning system (ERP), Business Intelligence, Data Warehouse, capacity building, and training, etc.
Official sources said that the efforts of National Savings in promoting financial inclusion have been lauded and recognized, not only nationally but also internationally. The reputed CFI magazine UK has recently bestowed on National Savings the award for “outstanding performance in promoting financial inclusion-2017”, they added.
Sources said that the award is in fact a recognition of the progress made by National Savings in the last one year on the automation front with two-third of the branches having been connected online and the offering of banking clearing services to the customers.
For customer facilitation, SMS Service, access through social media, and revamping of the institution’s website have been carried out, sources said adding that a complaint resolution cell has also been established at the DG’s Office which has been disposing of public complaints on daily basis.
National Savings
