ISLAMABAD: The Bank of Punjab (BoP) in collaboration with Pakistan Software Export Board (PSEB), the attached department of Ministry of IT, launched their Freelance Digital Account and Bank Cards in a ceremony held here on Tuesday.
The launch came after the signing of a Memorandum of Understanding (MoU) between the parties to offer tailored banking services and solutions to PSEB registered freelancers and IT/ITeS professionals.
The Freelance Digital Account and Card is an innovative banking solution designed specifically for the needs of freelancers and IT/ITeS professionals, says a press release.
This solution offers a range of benefits, including zero balance requirements, competitive foreign exchange rates, and instant issuance of co-branded debit/credit card.
Moreover, this will be a fully digital account with no visit to the branch required, no physical paper work needed, minimal KYC requirement and auto enrollment into merchant account.
This digital account service will be provided under the BOP@Work, which will therefore make freelancers and IT/ITeS professionals eligible for discounted offerings on auto finance, home loans, and personal finance.
This partnership between PSEB and BoP marks an important step towards facilitating the growth of the freelancing industry in Pakistan, and promoting financial inclusion among freelancers and professionals working in the IT and ITeS sector.
The Member IT, Ministry of Information Technology and Telecommunication, Syed Junaid Imam who graced the launch ceremony as the chief guest, said the IT and ITeS industry is a major contributor to Pakistan’s economy, and the Government of Pakistan is committed to promoting this sector to achieve its full potential.
He said Federal Minister for IT Syed Amin Ul Haque is committed to take country’s IT exports up to 15 billion dollars. On the direction of the Prime Minister of Pakistan, Ministry of IT is committed and playing its role to achieve the target of 15 billion dollars regarding IT exports.
Syed Junaid Imam also urged the commercial banks to introduce their banking products for facilitating IT companies and freelancers, as most of the IT companies have opened their accounts in foreign countries because of the non-availability of facilities from the commercial banks.
He said the collaboration between BoP and PSEB will provide a significant boost to the freelancers and IT industry. He said steps are being taken to address the issues of IT industry and facilitate it, adding that freelancers have important role in the development of IT sector.
Speaking at the ceremony, Zafar Masud, CEO of Bank of Punjab, said that we are proud to launch the Freelance Digital Account and Card, a product that has been designed to cater to the unique needs of freelancers and IT/ITeS professionals. The collaboration between BoP and PSEB is a testament to our commitment to support the IT industry in Pakistan and help it grow further.