JazzCash partners with Central Directorate of National Savings

ISLAMABAD: JazzCash, Pakistan’s leading fintech, and the Central Directorate of National Savings (CDNS), Pakistan’s largest investment and financial institution, signed a memorandum of understanding (MoU) for the disbursement and collection solutions, a statement said.

Through this partnership, JazzCash, a subsidiary of Jazz, and a part of VEON Group and CDNS will ease the payment solutions for more than four million people, including widows and senior citizens, under the ambit of the digital financial inclusion, it added.

The 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, JazzCash Head Murtaza Ali, said: “Our collaboration with CDNS is a testament towards our commitment to improve the lives and livelihood of the consumers through technology. This partnership is key to highlight how digital solutions assist with saving costs and time, while providing convenience to the end-users.”

CDNS Director General Hamid Raza Khalid shared similar sentiments and said, “We are excited to partner with JazzCash — the largest digital wallet app in the country — to enable CDNS achieve its vision of financial inclusion. Our department is fully committed to transforming itself into a vibrant and digitally integrated entity, servicing millions of our citizens.”

The National Savings is the largest investment and financial institution in Pakistan with a portfolio of over Rs3.4 trillion and more than four million valued investors are being served through a large network of 376 branches nationwide controlled by 12 Regional Directorates of National Savings.