The BOP Freelancer Segment and Credit Card were introduced by Prime Minister Shehbaz Sharif at the distribution of cheques to the recipients of the Prime Minister’s Youth Enterprise and Agricultural Loan Plan (PMYB&ALS).
Senior executives, including President and CEO BOP Zafar Masud, were present.
By this program, the Bank of Punjab (BOP) will increase the financial accessibility of independent contractors by meeting their transactional, loan, and payment-related needs.
This program will also increase the country’s capacity to draw international investment.
Zafar Masud Statement on Freelancers Credit Card
Zafar Masud said, “There are around 3 million freelancers in Pakistan, who contributed $400m out of the total IT export remittances of $2.616 billion during FY 2022, while their potential is worth billions of dollars. Through the freelancer segment & credit card initiative, BOP aims to unlock this potential and help the economy.”
Freelancers and IT professionals can open Freelancer Digital Accounts under the program, which supports improved credit and debit limits of up to $5,000 per month and $30,000 per year and can officially receive overseas remittances in both PKR and USD.
To read our blog on “Allow freelancers to open FCY accounts, PSEB suggests SBP,” click here.