Successful financial inclusion requires out of box thinking and innovations, said Deputy Governor,
He was chairing the signing ceremony for financial innovation challenge fund (FICF) round 2 on promoting innovative rural and agricultural finance in
The FICF round 2 was earlier launched by Federal Finance Minister, Senator
“I personally believe that the successful proposals have potential to challenge the status quo and transform the landscape of agricultural finance in the country in a positive way,” said the Deputy Governor.
He shared that the FICF committee has a very broad based membership from SBP officials. The committee held a series of meetings to independently evaluate the applicants and selected the best 12 projects from the long list of proposals received under the challenge round.
He also shared that the decision was based on a well defined uniform evaluation criteria including uniqueness of the proposed innovations, sustainability of the ideas and potential for financial inclusion to establish value for money etc.
He shared that SBP has now fulfilled its commitment of completing the evaluation phase before the end of
Executive Director SBP,
The ceremony was held to sign 10 projects committing
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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