Bank Alfalah pledges additional $5m for flood victims in Pakistan

ISLAMABAD: Chief Executive Officer (CEO) of Bank Alfalah Atif Bajwa on Thursday announced a donation of $5 million for communities affected by the 2025 floods, reaffirming the bank’s commitment to long-term climate resilience and rehabilitation in Pakistan.

The donation — equivalent to Rs1.4 billion — was approved by Sheikh Nahayan Mabarak Al Nahayan, Chairman of Bank Alfalah, along with the Board of Directors. The amount will be disbursed over and above the bank’s regular Corporate Social Responsibility (CSR) funding.

With this new pledge, Bank Alfalah’s total contribution toward flood relief and rehabilitation since 2022 has reached $15 million, underscoring its continued efforts to support communities devastated by climate disasters.

Announcing the initiative at a press conference, Atif Bajwa said the funds would be channelled through a network of partner organisations to restore infrastructure, rebuild livelihoods and enhance resilience in flood-affected regions. The programme will focus on housing, education, health and climate-smart agriculture to ensure sustained recovery.

“We are deeply grateful to our chairman and Board for this generous pledge. It reflects our shared belief that rebuilding lives and strengthening climate resilience is the way forward for a sustainable Pakistan,” Bajwa stated.

Responding to a question on housing finance, he noted that there was growing momentum from the State Bank of Pakistan (SBP) to expand lending in the sector. “Discount rates have come down from 22 per cent to 11pc, and there is a clear push from the central bank to promote housing finance. Currently, about five per cent of our portfolio is dedicated to housing,” he added.