Under the agreement, Karandaaz Pakistan will provide technical assistance in developing a whole new item termed the 'mobile revenue order' from conceptualization to deployment at Pakistan Publish.
The agreement was signed concerning Fakir Syed Shaharyaruddin, DG Pakistan Submit and Ali Sarfraz Hussain, CEO Karandaaz Pakistan, at a ceremony held in Islamabad.
Khalid Masood Chaudhry, Secretary Communications and Dr. Louise Walker, Group Head Financial Development, Division for Worldwide Advancement (UKAid), co-chaired the ceremony. Karandaaz team's technical expertise and its funding help will aid Pakistan Publish inside the identification of managerial and technical requiremens for that new support and will strategise and produce a full company strategy. The undertaking is envisioned to enhance Pakistan Post's support penetration and in addition create new revenue streams.
Speaking to the event, the DG Pakistan Post stated that this venture would aid make improvements to Pakistan Post's services channel penetration from 6.five to 30 per one hundred,000 persons by 2020 and present a fresh portfolio of financial services by means of the digital platform.
He acknowledged the part of Karandaaz Pakistan in furthering a essential goal in the Government of Pakistan by enhancing the financial inclusion in the country. He explained: "In see in the new possibilities in branchless and mobile transactions and e-commerce, Pakistan Post's reform programme aims to contribute to the financial inclusion of rural population with its nationwide network of publish offices by launching its very own mobile money buy services. Also sharing his thoughts within the occasion, the CEO Karandaaz stated: "Karandaaz is committed to enabling better financial inclusion for at the moment underserved rural populations and catering to their financial desires. By means of this partnership with Pakistan Post, we hope to help while in the advancement of a digital platform for revenue purchase which has the prospective to reach the underserved with improved pace, security and comfort.
Pakistan Post's countrywide outreach and its brand recognition are important aspects which will certainly support in advertising accessibility to a broad variety of fiscal products and solutions to individuals, entrepreneurs, businessmen, vendors and so forth." The event was closed with remarks from Khalid Masood Chaudhry, the Secretary Communications who emphasised the importance and advantages of digitizing payment flows to and from governments and expressed his commitment on the country's monetary inclusion objectives by closely functioning with all of the stakeholders.
Karandaaz Pakistan (www.karandaaz.com.pk), a Segment 42 company established in August 2014, promotes entry to finance for little companies by way of a commercially directed investment platform, and money inclusion for folks by using technology enabled digital answers.
The corporation has financial and institutional help from major international development finance institutions; principally the Uk Department for Worldwide Improvement (DFID) plus the Bill & Melinda Gates Foundation. The Consultative Group to assist the Poor (CGAP), a member from the World Bank Group, managed the start-up phase in the organization and continues to offer technical help.