Staff Reporter
Karachi
The President of Pakistan, Dr. Arif Alvi, has appreciated the Governor State Bank of Pakistan (SBP) Dr. Reza Baqir, for leading initiatives of the SBP in women empowerment through financial inclusion and expanding the landscape of digital payments.
He was addressing an online meeting with Governor State Bank of Pakistan (SBP), Dr. Reza Baqir, SAPM on Poverty Alleviation and Social Safety, Dr Sania Nishtar, senior SBP officials, Presidents/CEOs of banks and other stakeholders.
On Women Empowerment, Governor SBP gave a detailed briefing to the President about a number of regulatory and financing measures to enhance the flow of financial services to women. He said that SBP has been providing financing, under its subsidized Refinance and Credit Guarantee Scheme for Women Entrepreneurs, since 2017 to facilitate women owned startups and small scale businesses by providing loans of up to Rs5 million. To particularly benefit the women of Balochistan encouraging them to avail loans under this scheme, he apprised the President, that a quota of 20% has been reserved for women entrepreneurs of Balochistan.
Adding further, Governor Baqir shared that SBP’s efforts are aligned with the Government’s priorities of encouraging self-employment as, under the Prime Minister Kamyab Jawan Youth Entrepreneurship Scheme, a quota of 25% has also been reserved for women. He remarked that SBP is collaborating with Ehsaas program to implement the Prime Minister’s vision of having ‘One Woman One Account’ beyond the existing facility of cash disbursements through branchless banking agents only.
He also highlighted the key features of SBP’s upcoming ‘Banking on Equality’ Policy, which would engender equality in banking and reduce gender gap in financial inclusion.
