JS Bank, clients deploy 110m fund for immediate COVID-19 response

F.P. Report

KARACHI: Responding to the unprecedented challenges faced by the nation by the Corona Virus (COVID-19), JS Bank has established a 110 Million Rs fund in association with key partners to help address the impact of the pandemic during the month of April.

Based on a pledge matching initiative wherein JS Bank equally matched all support pledges made by its partners, this fund is rooted in JS Bank’s philanthropic philosophy of collaborative efforts and will focus on addressing some of the immediate and long-term issues related to the pandemic. The three-tiered strategy will revolve primarily on providing immediate relief, pandemic control and future response capacity building. The first phase will focus on provision of rations and necessities worth 30 Million Rs to food insecure families while the second phase will see distribution of Personal Protective Equipment (PPE) and donations worth 50 Million Rs to medical and other frontline institutions including non-governmental organizations.

Understanding the necessity of a long-term solution, the third phase of the program will focus on mitigating the long-term health impact of the virus through medical and technological Research and Development. The focus area will include studies on the transmission, evolution and impact of the virus on the Pakistani population including pregnant women with the overarching aim of developing a vaccine, improving the specificity and sensitivity of diagnostic kits and development of rapid testing kits.

‘This is a global pandemic and as a responsible corporate entity, it is our duty to stand shoulder to shoulder with the people of Pakistan in this hour of need.’ said Basir Shamsie, President & CEO, JS Bank. He added, ‘We are thankful to the Government of Pakistan, the medical fraternity and all other parties who are playing a critical role in combating this disease. We would also call upon other organizations to come forward and play their role in combating this disease.’

Committed towards its role as a catalyst towards the progress and prosperity of Pakistan, the Bank hopes to continue this journey of impact and will support Pakistan’s journey during these trying times.

JS Bank is one of the fastest growing banks in Pakistan, with 360 branches in 180 cities including one international branch. The Bank is a leader in the digital banking space and distribution of insurance solutions. JS Bank has been recognized on multiple international and national forums including the prestigious AsiaMoney, Asian Banking and Finance, DIGI and Pakistan Banking Awards.

The Bank is part of JS Group, one of Pakistan’s most diversified and progressive financial services groups.