President
commends banks' policies to address financial needs of persons with special needs
Financial
inclusion of individuals with special needs is a catalyst for social and
economic progress, emphasized President Dr. Arif Alvi on Saturday. Presiding
over a meeting of Chief Executive Officers and Presidents of banks in Karachi,
he commended the banking industry's efforts over the past two years in
addressing the financial needs of individuals with special requirements.
President Alvi highlighted that the positive policies
implemented by the banking sector for individuals with special needs could
serve as a model for other industries. He urged bank CEOs to assess and address
issues and challenges related to the provision of facilities in the
microfinancing sector. The President emphasized that the banking sector has the
potential to empower women and individuals with special needs by facilitating
their access to microfinancing, enabling them to contribute significantly to
the country's economy through financial inclusion and education.
President
urges banks to help protect people from online fraud
Expressing concern about fraudulent incidents in the
banking sector, President Alvi advised banks to enhance their monitoring
systems to detect and prevent fraudulent transactions. He underscored the
importance of reinforcing the alert system, as per the State Bank's
instructions, to effectively address fraud in the banking sector. Additionally,
he called for increased support for female employees in their career
advancement, contributing to an improved standard of living for their families.
President Alvi welcomed the availability of loans with
favorable conditions for women, but he noted that the percentage of women
applying for business loans was relatively low. He urged banks to raise
awareness about accessible business loans for women, encouraging their
participation in economic activities. While acknowledging the growing
involvement of women in the banking system, he emphasized the need for further
progress.
President
imposes fine on UBL on irresponsible representation
Governor State Bank Jamil Ahmed briefed the meeting on
the State Bank's policy framework regarding financial inclusion. Since June
2021, the State Bank has been actively engaging with commercial and
microfinancing banks, issuing instructions to ensure the financial inclusion of
individuals with special needs. Governor Ahmed expressed gratitude to President
Alvi for consistent support in this endeavor.
During the briefing, it was highlighted that 387 model branches were established in 108 districts for individuals with special needs. Internship opportunities in the fields of Islamic finance, audit, and branch operations were provided to 400 individuals with special needs, with 22 percent of the interns being female.
Source: APP