Karandaaz seeks solutions for facilitating financial inclusion of women

1092

Staff Reporter

Karachi

Karandaaz Pakistan has launched its Financial Inclusion of Women Challenge. Through this focused challenge, Kara ndaaz seeks to support solutions to address the critical issue of women missing out on the benefits otherwise possible through their financial inclusion such as having agency over money, savings, and access to credit.
According to 2018 Global Gender Gap Report, Pakistan ranks 148th out of 149 countries in the global parity index.
According to World Bank Findex 2017, only 7% of women in Pakistan are part of the formal financial system.
Karandaaz is helping bridge this gap and soliciting proposals from financial service providers, including but not limited to digital financial service providers, financial institutions, microfinance institutions, and microfinance banks; research and advisory firms; and other relevant market players to device gender-smart, women-centric financial products and services to cater to the needs and preferences of women.
Successful applicants will receive funding through the Bill & Melinda Gates Foundation (BMGF) and the UK’s Department for International Development (DFID) for implementing their solutions.

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