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Karachi: Visa, a global leader in digital payments, has partnered with Meezan Bank to introduce an innovative initiative aimed at supporting the digitization journey of the country’s student population. This collaboration offers university students, aged 18 to 24 and meeting the eligibility criteria, access to secure and convenient financial services through the Meezan Visa Student Debit Card.
Pakistan’s inaugural Visa card was introduced by Andrew Torre, Visa’s Regional President for Central Europe, the Middle East, and Africa (CEMEA), alongside Irfan Siddiqui, the Founding President and CEO of Meezan Bank, the Meezan Visa Student Debit Card is intended to facilitate the entry of Pakistan’s student demographic into the realm of digital finance.
The card will be provided at no charge to holders of the Meezan Asaan Student Account—an account designed to offer a holistic platform for financial management, specifically tailored to meet the distinctive requirements of students, thereby ensuring both accessibility and affordability.
According to the State Bank of Pakistan, the financial inclusion rate in Pakistan stands at just 21% and with over 2.4 million students enrolled in higher education institutions across the country, the potential for impact is significant. This initiative, timed for launch in the first quarter of 2025, aims to promote financial inclusion amongst Pakistan’s young, savvy, and digitally engaged population.
Umar Khan, Country Manager for Pakistan & Afghanistan at Visa, commented: “We’re proud to join forces with Meezan Bank on this financial inclusion initiative that targets youth. We believe empowering youth with financial tools is crucial for their future success and Pakistan’s overall economic growth.”
Irfan Siddiqui, President, and CEO of Meezan Bank said: “This partnership enables us to reach a crucial segment of society, providing students with a secure and convenient way to manage their finances while building financial literacy from an early age. The launch of the Meezan Visa Student Debit Card is a significant step towards greater financial inclusion in Pakistan, empowering students with the tools they need for a secure and successful future.”
Pakistan Vision 2025, initiated by the Ministry of Planning, Development, and Reforms, aims to capitalize on the economic potential inherent in the nation’s substantial adolescent demographic. By offering essential financial instruments and knowledge, Visa and Meezan Bank are significantly contributing to this vision by enabling students to adeptly manage their finances, make informed decisions, and ensure a prosperous future for themselves and their communities.
