ISLAMABAD: Karandaaz and the Ministry of Poverty Alleviation and Social Safety (MOPASS) signed a memorandum of understanding (MoU) on Wednesday to undertake joint efforts to help advance financial inclusion in the country.

The MoU signing ceremony took place at MOPASS in Islamabad and was chaired by Secretary MOPASS Muhammad Fakhre Alam Irfan, CEO Karandaaz Waqas ul Hasan, and senior program officer at Gates Foundation Syed Ali Mahmood.

The ceremony was also attended by senior management from both organisations.Under the agreement, Karandaaz has committed a grant to MOPASS to help maximise its efficiency, potential, and ultimately improve the beneficiary experience. It will contribute to enabling secure and efficient transactions to help beneficiaries receive complete funds without fraud, and will help increase financial inclusion by providing access to digital payment mechanisms.