The State Bank of Pakistan started an initiative for women empowerment by promoting and expanding their Financial inclusion. The president of Pakistan, Arif Alvi, appreciated the SBP director on this significant step of SBP.
Women Empowerment
In a talk about women empowerment, the governor of SBP gave some details and information to the president. He said that State Bank is providing help to the women since 2017. Under the subsidized Refinance and Credit Guarantee Scheme for women entrepreneurs, the bank has provided up to 05 Million loans. Through this loan, women can start their small businesses and startups.
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Reserved Quotas
SBP Governor Reza Baqir also said that we decided to provide loans to the Balochistan women to encourage them under this scheme. For this, SBP has reserved 20% of the quota for the Balochistan women entrepreneurs. Further, he stated that we have also reserved a 25% quota for women under the PM Kamyab Jawan Youth Entrepreneurship Scheme.
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Collaboration with Ehsaas Program
He also mentioned that SBP is looking to take the next step by collaborating with Ehsaas Program. By doing this, they will implement the PM Vision of One Women One Account. Then he also highlighted some upcoming policies of SBP with the president.
Digital Payments
On digital payments, Governor SBP talked about the digital payment infrastructures’ strategies and security. He said that through the retail e-banking channel, 906M transactions of RS 66 trillion were processed during FY20.
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President’s Remarks
At the end of the talk, President Arif Alvi thanked the SBP governor for helping the women and promote women’s empowerment. He appreciated the idea of female entrepreneurship to prompt the economic benefits and to prompt the digital payments.
