Shehbaz Sharif, PM of Pakistan introduced the BOP Freelancer Segment and Credit Card during cheque distribution among the assignees of PMYB&ALS (Prime Minister’s Youth Business and Agriculture Loan Scheme).
Zafar Masud, President and CEO BOP and senior official attended the ceremony.
Via this scheme BOP will improve the financial access for freelancers by addressing their transactional, lending and payment-related needs.
Furthermore, this would also help to increase the country’s potential of attracting foreign exchange.
CEO stated, “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 in both PKR and USD under this initiative, which would help to raise the
foreign remittances and support enhanced credit and debit limits of up to $5,000/month and $30,000 / year.