Mian Rashid Asghar.
FAISALABAD: Government Programs and Finance Schemes by State Bank of Pakistan to promote women entrepreneurship are quite productive, documentation for banks loans be made quicker, simple and easier, said Mrs. Rubina Amjad, President Faisalabad Women Chamber of Commerce & Industry (FWCCI). She was addressing to the participants of Awareness Session ‘Facilitation of Women Entrepreneurs for availing financing’ organized by FWCCI in collaboration with SBP Faisalabad, Bank Al-Habib and Bank of Punjab at Board Room of FCCI.
She appreciated that State Bank of Pakistan has already launched a comprehensive policy on ‘’Banking on Equity’ to reduce the gender gap in financial inclusion by brining a shift towards women friendly business practices in the financial sector. It is very productive turn that for implementation and dissemination of this policy across Faisalabad region, SBP Faisalabad is working for promotion of financing in women entrepreneurs through such awareness sessions as of today, she added..
She said that huge untapped potential exists among women doing business both in-formal as well as formal sectors that they need to be helped to grow. She said that women are already prey to cultural, social and male dominated environments. They need finances and apply but not properly entertained by the commercial banks. She said that experience and examples show that recovery rate of women is absolutely far above than that of male entrepreneurs.
She said that being women they are not well versed with the lengthy documentation and collaterals required by the banks. She suggested documentation should be made easier, least securities and collaterals and introduce ‘Group Financing’. She urged that women be dealt with female staff and setting up of ‘Women Window’ in commercial banks.
She said that to promote women entrepreneurship particularly for career advancement of young female graduates, FWCCI has set up Women Business Incubation Centre with the main objective to provide ‘hands on support’ with state of the art infrastructure and female oriented environments under one roof. It will also cater to ‘home based’ women entrepreneurs to venture into commercial level businesses subsequent to export development.
Addressing the meeting participants, Mr. Waqas Kashif Bajwa, Chief Manager SBP Faisalabad said SBP has taken a lot of initiatives and introduced various finance schemes. He said that females staff is being appointed in the banks to facilitate for financial services and also create women friendly environments.
Speaking on the occasion, Mr. Muhammad Akbar, Senior Deputy Chief Manager said that we are fully cooperating for women inclusion in financial services. However, banks are to fulfill their formalities He assured that loan applications of women will be fully catered by the banks in letter and spirit.
He said that a help desk has been set up at SBP for women facilitation.
A detailed presentation was made by Mr. Tahir Abbas, Assistant Chief Manager on the various finance schemes introduced by the SBP. Similarly, Mr. Ijaz Munawar, Area Manager Bank Alhabib and representative of Bank of Punjab also informed the participants of the various products introduced by their respective banks.