Karachi, December 22, 2023 – Meezan Bank Limited, Pakistan’s premier Islamic bank, has taken a significant step towards supporting the flourishing freelance community by entering into a strategic partnership with the Pakistan Freelancers Association (PAFLA).
The Memorandum of Understanding (MoU) signing ceremony, held at Meezan House in Karachi, marked the beginning of a collaborative effort to provide specialized banking services to freelancers across the country.
The ceremony, attended by key representatives from both organizations, including Zia ul Hassan, Group Executive Operations and Branch Banking, Ms. Shazia Khurram, Head Branch & Premium Banking, and Syed Kashif Zaidi, Head Centralized Operations from Meezan Bank, and Tufail Ahmed Khan, CEO, and Ibrahim Amin, Co-Founder & Chairman from PAFLA, highlighted the commitment of both entities to empower freelancers through financial inclusivity.
Under the terms of the agreement, PAFLA will play a crucial role in directing freelancers from diverse domains to Meezan Bank, facilitating hassle-free account opening processes, efficient remittance processing, and offering a suite of tailored services designed to enhance the financial well-being of freelancers. This partnership will also enable Meezan Bank to introduce its diverse range of products to a wider audience through PAFLA-organized training sessions, professional conferences, roadshows, and academic events.
Zia ul Hasan, speaking at the occasion, emphasized Meezan Bank’s dedication to meeting the specific needs of the freelancing segment. “Through tailored banking services such as tax facilitation on discounted rates, attractive foreign exchange conversion rates, and flexibility in choosing products in both current and savings categories, we aim to empower this segment and enhance its contribution to the national economy. Our goal is to propel freelancers towards success in their endeavors,” he stated.
The collaboration aims to address the unique challenges faced by freelancers in managing their finances, including tax-related concerns. Meezan Bank’s commitment to offering discounted rates on tax facilitation services is expected to ease the burden on freelancers, allowing them to focus on their work without compromising their financial stability.
Moreover, the partnership ensures that freelancers can benefit from attractive foreign exchange conversion rates, facilitating seamless transactions for those engaged in international freelancing projects. The flexibility of choosing banking products tailored to their specific needs, both in the current and savings categories, adds another layer of convenience for freelancers.
As the freelance community continues to play a pivotal role in the economic landscape of Pakistan, Meezan Bank’s collaboration with PAFLA underscores the recognition of freelancers’ contributions and the importance of providing them with tailored financial solutions. This partnership is poised to create a positive impact on the financial well-being of freelancers, ultimately contributing to the growth of the national economy.
