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Friday, May 24, 2024

JS Bank all set to fight COVID-19

To fight the widespread outbreak of COVID-19, JS Bank has taken strict measures to maintain operations during the lockdown. The bank officials have devised a diverging strategy, in order to handle the crisis and play their part in spreading awareness of the deadly contagion.

JS Bank, while providing nationwide services, has undertaken considerable efforts to combat the outbreak of the COVID-19. The novel coronavirus has now been labelled by the World Health Organization (WHO) as a highly infectious disease.

In recent communications with the media, the Bank highlighted their multifaceted plan to handle the current viral outbreak. This plan includes measures ranging from prevention in contraction of the disease as well as maintenance of sanitary conditions, creation of awareness and practicing of social distancing.

Efforts taken by JS Bank to fight coronavirus

A paramedics team is situated at the entrance of all the JS Bank offices in order to conduct thermal screening of the staff and visitors. Moreover, several steps have been taken to create awareness among the employees. These include placement of posters at critical spots which work as constant reminders of social distancing. Moreover, JS has also been circulating emails among the staff which contain important safety precautions regarding COVID-19.

The bank officials have been avidly taking measures to avoid contracting and spreading the disease. Accordingly, they distribute respiratory masks and gloves to all the staff at their respective branches.

Sanitization is one of the most high-priority actions in the eyes of the commercial bank. Various workplace locations continue monthly disinfection and with regular replacement of hand sanitizers. In fact, this pattern of disinfection also covers the ATM machines all over Pakistan. For all the people who are still dependent on cash, fresh currency has been placed in the ATMs.

Read more: Asiamoney Awards 2020: JS Bank wins “Best Bank for SME” award!

JS Bank’s devotion to protect its staff, customers and its customers nationwide can be gauged by the message, President and CEO, Basir Shamsie, regulated internally. In it, he highlighted the gravity of the situation as well as the importance of social distancing and staying connected to our loved ones. He believes that in a time like, it is important to maintain a mental, emotional and physical equilibrium.

Furthermore, they designed an organized working model to continue operations in these uncertain times. Pre-lockdown, they embodied a 50/50 work model, where teams divided themselves into two groups working on alternate days to limit chances of disease transmission. However, since post-lockdown, complete work from home is in practice. This is true for all non-critical staff, while critical staff (entailing bare minimum) are practicing on a 50/50 work model.

Moreover, JS Bank has designated ‘safe distance’ markers for customers having to visit the bank during these trying times. This step was taken in light of WHO recommendations for social distancing to mitigate the spread of coronavirus.

JS Bank’s effort to support the health sector in combating the virus

Moving beyond precautionary measures, JS has also taken on the responsibility for the greater good by offering rapid and cheap financing for hospitals and COVID-19 medical centers. This will allow them to purchase the required medical equipment and hopefully enable a larger capacity for the treatment of infected patients.

State Bank of Pakistan (SBP) recently announced a ‘Refinance Facility for Combating COVID-19 (RFCC)’ and its Shariah compliant version. This was to support hospitals and medical centers in combating the spread of COVID-19. Under this scheme, SBP will refinance banks to provide financing at a maximum end-user rate of 3% for 5 years for the purchase of equipment to detect, contain and treat the Coronavirus.

Read more: JS Bank becomes the first bank to promote social distancing!

SBP has committed to provide this facility to banks at 0 percent. Certain medical facilities are eligible for this package. These include, all hospitals and medical centers registered with federal or provincial health agencies; along with any agency engaged in the control and eradication of COVID-19.

The total size of the scheme is Rs 5 billion, with a maximum financing limit per hospital or medical center of Rs 200 million. This scheme will eventually help contain the spread of Coronavirus and reduce its human toll. This is available until the end of September, 2020.