Bank of Punjab receives award for Kamyab Jawan Program

Published: Sat 27 Nov 2021, 5:36 PM

Last updated: Sat 27 Nov 2021, 5:38 PM

Pakistan Prime Minister Imran Khan confers the award for the bank's far-reaching initiatives

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Imran Khan at the 'Kamyab Jawan Convention 2021' held at Jinnah Convention Center, Islamabad on November 24.

Prime Minister Imran Khan’s Kamyab Jawan Youth Entrepreneurship scheme (KJ YES) is a flagship programme of the Government of Pakistan. Currently, 21 banks are the executing agencies for this programme and BOP has maintained its pole position under KJ yes for two consecutive years — the top performing bank in 2020 followed by the top bank award in 2021. As on October 31, BOP has disbursed rupees six billions under this scheme involving more than 5,000 households resulting in creation of more than 15,000 job opportunities through focus on diversity and market penetration.

Under this programme, BOP has ensured transparency and meritocracy by processing all applications through a scorecard-based digitalised processing system. Loans have been disbursed to youth from all walks of life including farmers, urban communities and special segments such as women, transgenders and differently-abled people.

It is pertinent to mention here that BOP is also the leading bank in the industry which has disbursed over rupees 2.7 billion under Tier 1 of the scheme where loans up to rupees one million are disbursed against personal guarantee of the borrower, playing its integral role in financial inclusion of the un-banked/under-banked. Focusing on the agriculture sector, bank has disbursed rupees 661 million for financing of over 600 tractors, rupees 1.3 billion to 1,300 individuals for dairy farming. Working towards women empowerment, rupees 630 million have been disbursed to over 700 females under this scheme.

The bank considers that there is a significant potential in KJ yes and have entered into alliances with a number of corporate entities as well as multi-laterals including trade bodies, chambers and government. Entities for financing under the scheme. BOP’s recognition as top bank bears testimony towards the bank’s seriousness towards this important objective of the government and State Bank of Pakistan.

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