JS Bank & Clients Deploy 110 Million Fund For Immediate COVID-19 Response!

JS Bank

The deadly coronavirus pandemic has impacted economies, business and health nationwide. Proving to be a challenge to nearly every sector of the world, the virus has devastated lives globally. While many international organizations have stepped up in these desperate times, few national institutions have been active and one of the notable exceptions has been JS Bank which came out with a 110 Million Rs fund to meet immediate relief as well as to find a long-term solution.

JS Bank’s 110 million fund aims to help Pakistan in the long run!

A leading financial institution, JS Bank has established the fund based on a pledge match with customers decided to support the nation in this difficult time and to manage the brutal impact the COVID-19 on the people of Pakistan.

Based on a three-tier strategy, JS Bank is aiming to provide immediate relief by playing its role in controlling the pandemic and ensure future restore capacity building for complete health security. Divided into three different phases, the bank is all set to utilize the gathered funds correctly which is 30 million for ration, 50 million for donations and lastly, 30 million will be spent on attenuating the impact in the future.

The impactful three-tier strategy!

The initial phase is solely aimed to feed the needy and poor who, unfortunately, are the most severely hit community in this pandemic. JS Bank will provide ration and other basic necessities worth Rs.30 million in total to such hunger-stricken families.

There’s no doubt that doctors, health workers and security officials are tirelessly working on controlling this pandemic. Analyzing the need, Rs.50 million of the second phase includes the provision of Personal Protective Equipment (PPE) and donations for the medical and other frontline organizations who are working on facing the corona challenge, be they private or owned by the government.

JS Bank

JS Bank not only thinks of the present but is also working for a long-term solution that will be covered in the third phase. To alleviate the serious impact of the disease in the future, a major portion of the funds will be spent on medical and technological research and development.

Particularly, the third phase is targeted to study the evolution, transmission and impact of the virus on the Pakistani population including pregnant women. Moreover, it will focus on the intense efforts of developing a vaccine for the cure, improving the specificity and sensitivity of diagnostic kits and the development of rapid testing kits.

JS Bank’s motive behind the initiative!

Speaking on the initiative, Basir Shamsie, President and CEO of JS Bank stated, ”This is a global pandemic and as a responsible corporate entity, it is our duty to stand shoulder to shoulder with the people of Pakistan in this hour of need.” He further added, ”We are thankful to the Government of Pakistan, the medical fraternity and all other parties who are playing a critical role in combating this disease. We would also call upon other organizations to come forward and play their role in combating this disease.”

With sheer commitment, JS Bank aims to play a vital role in combating COVID-19 throughout Pakistan and is hopeful that the efforts will support the country in these difficult times.

What do you think of JS Bank’s initiative? Share your thoughts in the comments section below!

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