Jazz Partners with SECP to Boost Financial Literacy

News Desk 

Islamabad: The Securities and Exchange Commission of Pakistan (SECP) on Thursday signed a Memorandum of Understanding (MoU) with JazzCash to bolster digitalization and promote financial literacy in the country.

Under the MoU, Jazz Cash and SECP will collaborate on multifaceted campaigns to raise awareness on critical issues such as customer protection, data security, and fraudulent activities, leveraging digital and customer service platforms. 

The MoU also fortifies JazzCash’s role as SECP’s knowledge partner and underscores a concerted effort to bolster digitalization and promote financial literacy, according to a press release issued by SECP.

The MoU delineates a comprehensive framework for leveraging JazzCash’s expertise to fortify Pakistan’s fintech ecosystem. Focusing on technical, educational, and regulatory enablers, the partnership aims to empower individuals and businesses through knowledge-building initiatives. 

Addressing the ceremony, Chairman SECP Akif Saeed highlighted the crucial role of financial literacy in unlocking the country’s potential, emphasizing the importance of empowering the entire ecosystem, including customers, MSMEs, and investors. 

Aamir Ibrahim, CEO of Jazz, said that the MoU between JazzCash and SECP heralds a strategic partnership aimed at transforming the financial sector through digital innovation. 

Central to our alliance is the pursuit of technological advancements to improve consumer lending, accessibility, and efficiency, he added. 

Additionally, we’re venturing into new areas like asset fractionalization, insurance, and investments to democratize financial services for everyone, he added.

 Concerted efforts will be directed towards digitalizing financial services, with a special emphasis on micro, small, and medium enterprises, he said, adding that through joint initiatives such as mentorship programs and business development trainings, JazzCash and SECP aim to empower businesses and entrepreneurs, fostering innovation and growth in the sector.