The State Bank of
The FICF was launched by Finance Minister Mr.
While evaluating these proposals based on welldefined criteria such as uniqueness of the proposed innovations, sustainability of the ideas and potential for financial inclusion to establish value for money, the Chairman appreciated response of the market and richness of innovations.
The Committee approved 10 proposals for grant assistance under FICF, committing a total of
These successful institutions will implement their projects over the next 6 months testing innovations such as Agriculture Value Chain Financing, Warehouse Receipt Financing against agricultural commodities, use of third party service providers by the banks' agri staff, green agricultural financing, Islamic microfinance, use of ICT solutions for agricultural finance and price information. FICF is a component of larger Financial Inclusion Program (FIP) being implemented by SBP under the funding assistance of
The 1st round of the fund was held on Financially Inclusive Government to Person (G2P) Payments. Under the first round, SBP has been supporting a number of innovative pilots for adoption of financially inclusive G2P payments, covering the entire spectrum of G2P payments including salaries, pensions and welfare payments.
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