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Dar felicitates National Saving on winning international award

Dar felicitates National Saving on winning international award

ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar has felicitated National Savings on being honoured with award for “Outstanding Contribution to Financial Inclusion Pakistan 2017” by the prestigious CFI.co Magazine Awards Programme, UK. The international business awards programme is adjudged by eminent internal and external panel of experts, said a press release issued here Friday.

It may be mentioned that each year, CFI.co seeks out individuals and organizations that contribute significantly to the convergence of economies and truly add value for all stakeholders. The Awards Programme aims to identify excellence to inspire others to further improve their own performance. More than 500 entries were received this year, from a wide array of public and private companies of all sizes, from a variety of organizations and geographic regions all over the world. “National Savings has excelled in its category, showing fantastic prowess in digital innovation and creativity. National Savings will be honored by CFI having an opportunity to deliver its message in print magazines which will be distributed in World Bank and other prestigious financial institutions all over the world” the experts panel stated.

In order to further the agenda of Financial Inclusion, National Savings has recently secured support from multilaterals, like World Bank, Karandaaz (DFID and Bill & Melinda Gates Foundation) and USAID.

Whilst USAID has offered to extend Technical Assistance on Legal, HR and Product Development fronts to achieve smooth transition of the Organization to Corporation; the support for technology upgradation is coming from Karandaaz and the World Bank.

During the last 12 months, significant progress has been made on the automation initiative of National Savings as 204 out of 376 branches are on automated setup now, enhanced from merely 59 branches a year ago. Further, the road-map for technology up-gradation will take the existing IT systems to the next level, offering ATM cards, internet and cell phone banking. National Savings is an attached department of Ministry of Finance with over 7.7 million Customer Accounts and 376 Branches across Pakistan.