BankIslami Pakistan Limited partners with The Pakistan Freelancers’ Association (PAFLA) to Empower Freelancers Nationwide.

Lahore, November 23, 2023: BankIslami Pakistan Limited proudly announces the signing of a Memorandum of Understanding (MOU) with The Pakistan Freelancers’ Association (PAFLA), marking a significant milestone in facilitating the burgeoning freelance community in Pakistan.

This collaboration aims to revolutionize financial services for freelancers, offering a dedicated Freelance Account Opening service. BankIslami takes the lead as the first financial institution to introduce a Foreign Currency (FCY) debit card designed specifically for individual freelancers and software houses against their specialized exporter foreign currency retention account. This innovative offering empowers freelancers to manage their earnings seamlessly in multiple currencies.

In addition to this groundbreaking service, BankIslami is set to launch university events across Pakistan, creating a platform to engage and educate freelancers on financial planning, digital banking solutions, and entrepreneurship. These events will foster an environment for knowledge-sharing and networking opportunities among freelancers, promoting economic growth in the country and innovation in the digital space.

“BankIslami is committed to fostering innovation and exclusivity within Pakistan’s dynamic freelance community. Our partnership with The Pakistan Freelancers’ Association marks a pivotal step towards providing tailored financial solutions for the growing needs of freelancers. We believe in empowering individuals to thrive in the digital economy by offering dedicated services and innovative products, ensuring their financial success. This collaboration signifies our dedication to driving positive change and supporting the aspirations of freelancers across the country,” said Mr. Rizwan Ata, President & Chief Executive Officer, BankIslami Pakistan Limited. “To help freelancers in Pakistan stay competitive globally, the private sector can provide intense training programs, and commercial banks can offer support and credit lines. We should also promote freelancers on global platforms, invest in education and digital infrastructure, and encourage research and development. Its important to create freelancer-friendly legal frameworks and collaborate with the government, public/private sectors, and financial institutions”.

This partnership between BankIslami and PAFLA is a game-changer for Pakistani freelancers, providing a reliable and efficient financial infrastructure for receiving payments from abroad. It addresses a longstanding need within the freelance community and aligns with BankIslami’s commitment to fostering financial innovation.

BankIslami Pakistan Limited remains dedicated to empowering freelancers across Pakistan, enabling them to leverage world-class financial services tailored to their unique needs. This strategic collaboration with PAFLA signifies a step towards a brighter and more prosperous future for freelancers in the country.