Bank Alfalah, a leading commercial Bank in Pakistan, has partnered with UN Women to launch financial inclusion awareness sessions. The sessions are a part of the National Financial Literacy Program (NFLP), an initiative of SBP and BSC. The sessions aim to break down barriers hindering women’s access to financial resources, fostering their autonomy and financial independence.
In the first phase, UN Women, and local BSC field offices conducted a series of targeted financial literacy awareness sessions in Thatta and Rawalpindi in which over 200 women were engaged. UN Women and Bank Alfalah will conduct multiple similar sessions on financial literacy across key districts in Pakistan. These interactive sessions will be held in partnership with regional SBP Banking Services Corporation (BSC) offices. The focus districts include Pishin, Lasbela, Khuzdar, Naseerabad, Jaffarabad, Loralai, Peshawar, Mardan, Kohat, Chitral, DI Khan, Rawalpindi, Muzaffargarh, Thatta, Hunza, Gilgit, and Nagar.
Over 200 women have been engaged through the 4 sessions conducted in Rawalpindi and Thatta. While 3 more sessions for Peshawer and DI Khan are in pipeline, to collectively reach over 500 women in rural areas.
The sessions will cater to women and girls from diverse backgrounds, including micro-enterprise owners, disabilities, minority groups, and students from schools and universities. This collaboration ensures that the message of financial inclusion reaches a broader audience and brings about tangible change in women’s lives aligned with SBP’s initiative for Banking on Equality.
The financial literacy sessions encompassed various aspects of banking, including retail banking, SME business, Islamic banking, consumer banking, and other domains. These sessions were conducted by senior business leaders to educate the participants. Furthermore, Bank Alfalah aims to onboard women who are interested as customers and offer them both Conventional and Islamic deposit and financing solutions. This initiative is intended to narrow the gender gap in the financial landscape and promote financial inclusion.
Gender equality and women’s development are pivotal for economic development in Pakistan as currently the rate of women inclusion is only 13% that represents vast untapped potential. This initiative taken by the Bank is aligned with Uited Nations’ SD Goal 5, 8 and 10. Inadequate financial resources and limited access to funding opportunities have been major obstacles to women’s economic empowerment in Pakistan. Recognising this challenge, Bank Alfalah, in collaboration with UN Women and SBP, is committed to implementing initiatives that align with national policies like the Pakistan Vision 2025 and the SBP’s Banking on Equality (BOE) Policy.
About Bank Alfalah:
Bank Alfalah is a leading commercial bank in Pakistan, boasting over 900 branches across 200 cities and an international presence in the UAE, Bangladesh, Bahrain, and Afghanistan. The bank offers various products and services, including corporate and investment banking, consumer banking, securities brokerage, commercial, small and medium enterprises, agricultural, Islamic, and asset financing to private-sector institutions and governments.
In 2018, Bank Alfalah launched its digital banking group, setting a high standard for the industry to follow with its Alfa app, a revolutionary new application that brings together an unprecedented range of services and features all in one convenient platform. In 2022, the bank was awarded the best ‘Digital Bank’ and ‘Housing Finance’ across Pakistan, highlighting its commitment to simplifying and improving the financial capabilities of its customers.
