HBL Microfinance Bank has announced a major milestone under the BISP Agent Interoperability initiative, becoming the first bank in Pakistan to go live as an issuer under the program. The development is designed to expand access for beneficiaries by allowing them to access their funds through a wider network of partner banks, creating greater interoperability across participating financial institutions.
Under the initiative, HBL Microfinance Bank’s issuer role enables BISP beneficiaries to access their funds through a broader partner-bank network. This creates a more connected Government-to-Person (G2P) payment ecosystem, potentially giving beneficiaries greater flexibility in accessing government-supported funds through participating channels rather than being limited to a single banking network.
The development is particularly significant for financial inclusion as BISP serves beneficiaries who rely on government-to-person payments. By connecting the bank with a wider network through agent interoperability, the initiative is intended to improve accessibility and create a more integrated mechanism for delivering financial support to beneficiaries across Pakistan.
The milestone also reflects the increasing role of digital infrastructure and interoperability in Pakistan’s government payment ecosystem. HBL Microfinance Bank acknowledged the contribution of its teams and partners, including BISP, HBL, State Bank of Pakistan and 1LINK, whose collaboration supported the implementation of the initiative.
HBL Microfinance Bank said the development reflects its focus on financial inclusion, innovation and digital transformation. By participating as an issuer within the BISP Agent Interoperability framework, the bank is contributing to a G2P ecosystem designed around wider access and greater connectivity between financial institutions and beneficiaries.
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