The National Institute of Banking and Finance (NIBAF), a subsidiary of the State Bank of Pakistan (SBP), and JazzCash have inked a Memorandum of Understanding (MoU) to promote financial awareness among Pakistan’s young.
The two organisations want to collaborate on financial literacy promotion using the engaging and interactive game dubbed ‘PomPak – Learn to Earn,’ which was developed as part of SBP’s National Financial Literacy Program for Youth (NFLP-Y).
NIBAF is undertaking the National Financial Literacy Program for Youth under the auspices of SBP in order to teach critical financial knowledge to Pakistani youth and school-aged children. The programme has successfully covered over 45 districts of Pakistan in the previous three years, educating over 750 thousand people in this category.
PomPak is a narrative-driven film that follows the journey of two families as they establish a modest economic venture. This assists in maintaining player engagement while instilling ethical behaviour and financial skills such as budgeting, saving, and banking. PomPak is accessible in English and Urdu and is appropriate for three age groups: children (9-12), adolescents (13-17), and youth (18-29). Anyone who successfully completes the course receives a financial literacy certificate from NIBAF and NFLP-Y. It can be played on a desktop computer or downloaded for various devices via Google Play and the App Store.
JazzCash would enable SBP access to over 26 million Pakistanis through its cooperation by advertising the PomPak application on its site. This will enable the application to reach a broader audience, so expanding its usage and ultimately increasing the nation’s financial literacy, resulting in a highly beneficial socioeconomic impact.
MD NIBAF Riaz Nazar Ali Chunara emphasised the critical role of financial knowledge in advancing financial inclusion.
PomPak, he stated, has transformed the way financial education is given in Pakistan by being the country’s first e-learning financial literacy game.
He continued, “NIBAF is extremely proud of what PomPak has accomplished since its inception, and this partnership with JazzCash will help us fulfil our commitment to providing free financial education to all.”
While underlining the importance of the MOU, JazzCash CEO Erwan Gelebart stated that JazzCash offers ample opportunity for financial enablement and education. Constructing a solid business while simultaneously improving Pakistan is critical to JazzCash’s long-term success.
This agreement will assist in accomplishing the aforementioned objectives as we work to upskill Pakistan’s youth, he stated.