Bank of Punjab joins hands with TCF in Sadqah Jariyah Initiative

  October 15, 2021   

The Bank of Punjab (BOP) joins hands with The Citizens Foundations (TCF) in the field of education. The MoU was signed by Mr. Zafar Masud (President and CEO – BOP) & Syed Asaad Ayub Ahmad (President and CEO – TCF)

Through this partnership BOP aims to contribute to TCF’s mission to provide quality education to less privileged children through their 1,687 schools educating 275,000 children across Pakistan. Under the “Sadqah Jariyah” initiative, BOP will provide donation collection services to TCF, thus garnering more support for TCF’s mission to provide quality education. Several physical and digital channels will be set-up to facilitate donations, including support from Non-resident Pakistani donors using the RDA platform. Funds collected will be utilized in programs themed around education for girl child & differently-able persons and adult female literacy.

Speaking on the occasion, Mr. Zafar Masud (President and CEO – BOP) said, “Social responsibility is the cornerstone of BOP’s vision of giving back to the society by educating the segment which will have long term impact on promoting much-needed inclusiveness. By signing this MoU, we are laying the foundation for a long-term partnership between BOP & TCF. We hope to raise funds from overseas Pakistanis through RDA and our own employees to begin-with, and then expand this product through other collection channels. In addition to facilitating fund collection, BOP will also contribute financially by matching customer & staff donations which is a very unique offering in the local market. BOP has always been on the forefront of social betterment and offering new ideas which perfectly aligns this partnership with our motto ‘Har Fard Ka Khayal’”.

Addressing the ceremony, Mr. Zahid Mustafa (Group Chief Consumer & Digital Banking – BOP) said, “It gives me immense pleasure to be involved in this initiative and to be part of a socially conscious organization like BOP. As part of BOP’s intent to provide innovative products & digital solutions, “Sadqah Jariyah” initiative will enable its customers to donate funds to TCF with ease. We also plan to introduce market first Savings and Term Deposit products, where part of the profit earned by customers will be re-invested into “Sadqah Jariyah” projects”.

Syed Asaad Ayub Ahmad (President & CEO – TCF) expressing his views on the occasion said, “For 26 years, TCF has been committed to providing quality education for the less privileged children of Pakistan. To fulfill this mission, we look towards collaborating with organisations that share our vision of a better and literate Pakistan. Banking sector is transforming away from conventional ways of brick and mortar and have entered the digital era with modern solutions, allowing ease of banking in the most efficient manner. We are excited to collaborate with BOP, allowing our donors and stakeholders to utilise the bank’s wide range of innovative products, helping us expand our reach and impact.” 

Also speaking on the occasion, Syed Irfan Ali (Managing Director – Deposit Protection Corporation, a subsidiary of SBP) informed the forum about the accomplishments of Roshan Digital Account (RDA), “RDA has received very encouraging response from overseas Pakistanis from around the globe. Over 240,000 RDA accounts have been opened so far, with over USD 2.4 billion received in remittances through this channel. Pakistanis are one of the most charitable nations of the world. “Sadqah Jariyah” initiative sits in well with the giving spirit of both Resident and Non-resident Pakistanis.”

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