Mobicash entrusted to disburse funds to millions of TDP’s
Mobicash has been awarded the mandate to disburse funds to TDP’s in the KPK province. The Agreement signing ceremony was held at Governor House, Peshawar which was attended by Chief Commercial Officer Mobilink, Bilal Munir Sheikh, Director Mobilink’s Mobile Financial Services Ms. Aniqa Afzal Sandhu, CEO/President Waseela Microfinance Bank Mr. Ghazanfar Azzam and DG FDMA Mr. Ikram Ullah. The agreement was signed by DG FDMA and President Waseela Microfinance bank Ghazanfar Azzam.
In total there are 103,000 families who will be moving back to their homes. During the initial phase of this project, being launched from February, Mobicash will disburse funds to fifty two thousand families. The first phase payment will be PKR 8,000 to each family as a transportation allowance. The total size of the disbursement will be approximately PKR 416 Million. These funds will be disbursed using the standard “Money Transfer” facility. The “Beneficiaries” can cash-out the rehabilitation funds from any of Mobicash’s retail channel outlets.
In the second phase of the project, each beneficiary family will be given PKR 25,000 as a “Settlement Allowance”. Beneficiary families will be issued Mobicash ATM cards through distribution centers whereby, the funds can be cashed out through any ATM machine featuring 1-link or M-net connection. The Total disbursement size for this tranche of Settlement Allowance will be approximately PKR 1.3 Billion.
The progress on this project will be conducted in a transparent manner, as the issuance of Free Sims and account opening process through Biometric-Verification begins in February. Mobicash will ensure Data-connectivity to ensure smooth activation, while Waseela Bank will conduct the On-ground operations & work processes. Progress will be made credible and visible through effective media-management and maintaining liaisons with the relevant departments of the government.