Islamabad: JazzCash, Pakistan’s leading Fintech, and Central Directorate of National Savings (CDNS), Pakistan’s largest investment and financial institution, signed a Memorandum of understanding (MoU) for Disbursement and Collection solutions.
Through this partnership JazzCash, a subsidiary of Jazz, and a part of VEON Group and CDNS will ease payment solutions for more than four million people, including widows and senior citizens, under the ambit of digital financial inclusion. JazzCash users will be able to receive profits in their mobile wallets and buy national saving certificates digitally through the JazzCash App.
Speaking at the signing ceremony, the Head of JazzCash, Murtaza Ali, said, “Our collaboration with CDNS is a testament towards our commitment to improve the lives and livelihood of consumers through technology. This partnership is key in highlighting how digital solutions assist with saving cost and time while providing convenience to the end-user.”
CDNS Director General Hamid Raza Khalid shared similar sentiments saying, “We are excited to partner with JazzCash – the largest digital wallet app in the country – to enable CDNS to achieve its vision of financial inclusion. Our department is fully committed to transforming itself into a vibrant and digitally integrated entity, servicing serve millions of our citizens.”
National Savings is the largest investment and financial institution in Pakistan with a portfolio of over Rs. 3.4 trillion and more than 04 million valued investors are being served through a large network of 376 branches nationwide controlled by 12 Regional Directorates of National Savings (RDNS).