FINCA Microfinance Bank Ltd. signed a MoU with Benazir Income Support Programme (BISP) for women empowerment, women entrepreneurs and financial inclusion on Wednesday 7th March, 2018 at BISP Headquarters in Islamabad.
The initiative is aimed at increasing female financial inclusion footprint and graduation of BISP beneficiaries to women entrepreneurs. BISP will leverage FINCA’s Digital Financial Services, including SIMSIM, a digital mobile wallet which offers easy and quick on boarding, zero transaction fee and access to range of services including bill payments, money transfer, lending and online marketplace amongst other product offerings.
Through this partnership FINCA MFB Ltd. will enable BISP beneficiaries to become women entrepreneurs.
Commenting on the occasion, Mr. Mudassar Aqil, CEO FINCA said, “Women play a pivotal role in the financial planning and management of their households. By empowering women using technology and training them on how digital financial services can help them, we enable the household to lift itself out of poverty and towards prosperity. Through this partnership with BISP, FINCA aims to create women entrepreneurs and bring about financial inclusion at the same time.”
A key aspect of this collaboration between the two entities is to provide financial literacy and create awareness amongst women, who are financially excluded.
” It is a proven fact that women inclusion results in social as well as economic growth. I congratulate FINCA and BISP on this momentous occasion as they join hands to harness the potential of the female workforce by helping them transition into the digital world.” stated by Marvi Memon, Chairperson BISP.
Keeping in view the current status quo where women in Pakistan are largely out of financial inclusion net, this initiative is a great step towards harnessing their skills, making them independent and securing their future for a prosperous Pakistan.