SBP Secure Sahulat Account Mechanism
The Benazir Income Support Program has been a key initiative in Pakistan aimed at providing financial assistance to the country’s most vulnerable populations. The program ensures that low-income families can access the financial support they need to improve their living conditions. However, with the introduction of the SBP Secure Sahulat Account Mechanism, the BISP 8171 framework is continuously evolving to meet the growing needs of beneficiaries and make the process smoother and more transparent.
In a bid to further streamline the disbursement of aid, BISP has introduced a revamped facilitation framework that focuses on improving the process of account management, activation, and payments. This guide will walk you through the updated process, explaining everything from beneficiary onboarding to the final payment distribution.
Introduction to the Benazir Income Support Program (BISP)
The Benazir Income Support Program (BISP) plays a crucial role in providing financial support to Pakistan’s economically disadvantaged families. Through direct cash transfers, the program helps to alleviate poverty and provides a safety net for the most vulnerable segments of society.
With the new facilitation framework, BISP aims to enhance the efficiency of the program and improve the beneficiary experience. The framework includes a major overhaul in the way accounts are managed and payments are made, making the entire process more streamlined, secure, and beneficiary-friendly.
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BISP Beneficiary Onboarding Process
The first step in ensuring that beneficiaries receive their rightful support is the onboarding process. Here’s how it works:
A. Collecting and Verifying Beneficiary Information
To start, banks work with BISP to collect the necessary information from potential beneficiaries. This includes:
- Full name (as per CNIC)
- CNIC number
- Date of birth
- Residential address
Before processing this data, BISP collaborates with NADRA to verify the accuracy of the information, ensuring that all beneficiaries are correctly identified and are eligible for the program.
B. Screening and Account Opening
After receiving the beneficiary details, banks will screen the information against various security lists, such as the UNSC (United Nations Security Council) sanctions list and others related to anti-terrorism laws. This ensures that no ineligible individuals are enrolled.
Once cleared, beneficiaries will be assigned a bank branch where they will open their accounts. Banks will create an International Bank Account Number (IBAN) for each beneficiary, which is then shared with BISP for further processing.
However, the accounts remain inactive until the beneficiary completes the biometric verification (BV) process to activate the account.
C. What if Biometric Verification (BV) Cannot Be Done?
In cases where biometric verification is not possible, alternative methods will be implemented. For example, beneficiaries can be issued a PayPak debit card to access their funds, and alternative methods of identity verification will be used to ensure that the process runs smoothly.
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Managing Beneficiary Information
To ensure transparency and accuracy in the process, banks are required to gather additional personal details from beneficiaries:
- CNIC validity dates
- Father’s name or spouse’s name
- Place of birth
- Mother’s first name
- Mobile number (if available)
Banks will also seek the beneficiary’s consent for FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard) compliance, ensuring that the account opening process is fully in line with international standards.
Account Activation and Payment Distribution
A. Activating Accounts through Biometric Verification
Once a beneficiary’s information is confirmed and their account is opened, they need to visit the designated bank branch to complete the biometric verification (BV). This step is essential for activating the account and ensuring that funds are only disbursed to the correct individual.
If BV cannot be completed, banks will make arrangements to verify the identity through NADRA records and other methods. Upon successful verification, beneficiaries will be notified of their activated accounts.
B. Fund Distribution Through RAAST/IBFT
After account activation, BISP will disburse funds directly into the beneficiary’s bank account via RAAST (a real-time payment system) or IBFT (Inter-Bank Funds Transfer). Beneficiaries will be informed about the disbursement and can collect their funds through various channels, such as ATM withdrawals, cheques, or PayPak debit cards.
ATM and Branch-based Payment Channels
To make accessing funds even more convenient, beneficiaries can withdraw their payments through the following methods:
A. ATM Withdrawals with Biometric Verification (BV)
Once accounts are activated, beneficiaries can withdraw their funds from ATMs using biometric verification (BV). This ensures that only the authorized person can access the funds.
B. Payments through Bank Branches
In addition to ATMs, beneficiaries can also visit designated bank branches for cash withdrawals. Initially, during the pilot phase, cheque payments will be used until the BV system is fully operational.
C. Use of PayPak Debit Cards
For those who are issued PayPak debit cards they can use them at any bank’s ATM to withdraw funds. This provides flexibility, as beneficiaries do not have to be limited to a single bank’s network.
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Operations of BISP Accounts
A. Regular Transactions and Free Withdrawals
Once the account is activated, beneficiaries can perform normal banking operations, such as withdrawing cash and checking their balance. No fees will be charged for ATM withdrawals, even if the ATM belongs to a different bank.
B. Restrictions on Mobile/Internet Banking
To maintain security, internet and mobile banking services will not be activated for BISP accounts. Beneficiaries will only be able to perform basic operations through ATMs or bank branches.
Facilitating Beneficiaries and Providing Support
A. Training for Bank Employees
To ensure that the process runs smoothly, bank employees will undergo training programs. These programs will focus on account activation, ATM usage, and assisting beneficiaries during the payment distribution process.
B. Dedicated Customer Support
BISP will provide a dedicated customer support function for beneficiaries. This will include 24/7 help desks, complaint resolution mechanisms, and information exchange to address any issues faced by beneficiaries.
Conclusion: Improving the BISP Experience for Beneficiaries
The revamped BISP facilitation framework aims to create a more efficient and user-friendly system for beneficiaries. With biometric verification, PayPak debit cards, and secure payment channels, BISP ensures that financial aid reaches those who need it most safely and transparently.
As the system enters its pilot phase in key cities, it promises a seamless transition for beneficiaries, who will experience simplified processes and improved access to their funds. After successful implementation, the framework will be expanded to other regions, ensuring that all beneficiaries can enjoy the benefits of a modernized, reliable payment system.
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Key Takeaways:
- Beneficiaries now have an easier way to access BISP funds through improved account management and payment channels.
- Biometric verification (BV) and PayPak debit cards ensure secure and convenient fund access.
- Free ATM withdrawals and 24/7 support make the process more accessible and user-friendly.
With these improvements, the Benazir Income Support Program (BISP) continues to play an essential role in lifting vulnerable families out of poverty while ensuring that the process is secure, efficient, and transparent.