ISLAMABAD: Karandaaz signed a Memorandum of Understanding (MoU) with Ministry of Poverty Alleviation and Social Safety (MOPASS) to advance financial inclusion in Pakistan.
The MOU signing ceremony took place at MOPASS here and was chaired by Secretary MOPASS, Dr. Muhammad Fakhre Alam Irfan, CEO Karandaaz, Waqas ul Hasan, and Senior Program Officer Gates Foundation, Syed Ali Mahmood. The ceremony was also attended by senior management from both the organizations.
Under this agreement, Karandaaz has committed a grant to MOPASS to help maximize its efficiency, potential and ultimately improve the beneficiary experience.
It will also enable secure and efficient transactions to help beneficiaries receive complete funds without fraud and will increase financial inclusion by providing access to digital payment mechanisms.
Karandaaz Pakistan is a not-for-profit special purpose vehicle, setup under Section 42 in August 2014. Karandaaz is the implementation partner of the Enterprise and Asset GroMh Programme (EAGR) and Sustainable Energy and Economic Development (SEED) programme of UK’s Foreign, Commonwealth & Development Office (FCDO). SEED is grant funded by FCDO whereas EAGR is co- funded by FCDO and Bill & Melinda Gates Foundation on grant basis.
