JS Bank fights COVID-19: Offers financing to hospitals to curb Corona Pandemic

F.P. Report

KARACHI: Playing its role in facilitating the nation and its institutions to fight the Coronavirus pandemic, JS Bank, has introduced financing of up to Rs. 200 million to hospital and medical centers, for the purchase of equipment to detect, contain and treat patients infected by COVID-19.

Under this State Bank designed scheme, all medical centers registered with federal or provincial health governing bodies, engaged in the control and eradication of COVID-19 will be eligible to avail the credit line at a minimal mark-up rate of only 3% per annum for a duration of 5 years. This plan enables these health facilities to bolster their operational mechanisms through purchase of additional equipment and relevant tools for the purpose. Hospitals can avail this facility until September 2020.

On the other hand, MJSF (Mahvash and Jahangir Siddiqui Foundation) also partnered with the Government of Sindh for using its State-of-the-art hospital in Sehwan, to combat Coronavirus. The hospital will help curb the shortage of ventilators, Intensive Care Units (ICU) and increasing numbers of Corona patients in the province.

“We face an unprecedented threat today and in these trying times, it is the responsibility of all stakeholders in the society to come together and play their role in curtailing the situation. The Refinance Facility for Combating COVID-19 (RFCC) will enable the country’s medical institutions to effectively counter the pandemic,” said President and CEO JS Bank, Basir Shamsie. “This financing plan is a step towards empowering the health facilities across the country to address any shortage of resources in a simple and swift manner” he added further.

JS Bank has been playing an active role as a key contributor towards ensuring the health and safety of not just its employees and customers but the population in general by being the first bank in Pakistan to implement zero transactional charges on internet, mobile and ATM banking. The bank has further moved to skeleton working model with team strengths working on 50% rotating model. Digital solutions are also being explored to allow a fully work from home model for the staff.