Bank Alfalah committed to empowerment of women
On the occasion of International Women’s Day, Bank Alfalah, one of Pakistan's
leading commercial banks, has unveiled its "Banking on Equality"
data, reaffirming its dedication to women's financial inclusion.
The bank, recognized as one of the 'Most Inclusive
Companies' in 2023, has demonstrated its commitment to diversity, equity, and
inclusion within the financial sector.
Bank
Alfalah to play role in creating job opportunities for persons with
disabilities
Women are increasingly making their mark in the financial
landscape, now representing 19% of total accounts with over 800,000 accounts
amounting to PKR 164 billion. In financing for small and medium enterprises,
542 women entrepreneurs, comprising 7% of active borrowers, have secured loans,
with outstanding financing totaling PKR 2.7 billion. Additionally, 280 women
borrowers in agriculture have outstanding financing of PKR 300 million, while
132 women have benefited from financing under various schemes.
As part of its ongoing efforts to empower women financially,
Bank Alfalah has introduced "Pehchaan Finance," an exclusive Personal
Loan product tailored to meet women's unique financial needs. This product
offers discounted rates and financing ranging from PKR 50,000 to PKR 3,000,000
with flexible tenures of 1 to 4 years, supporting women in achieving financial
independence.
Bank
Alfalah's commitment: Rs 970 million disbursed for flood-impacted communities
Moreover, the bank has collaborated with the Benazir Income
Support Programme Beneficiaries since 2011, disbursing PKR 346 million to recipients
as part of a digital social cash transfer program.
In the digital marketplace, Bank Alfalah's platform,
AlfaMall, serves as a hub for women entrepreneurs, with four businesses
generating over PKR 382 million in throughput in 2023. Women also constituted
37% of the total customer base on AlfaMall, showcasing their significant
presence and influence in the digital sphere.
Mehreen Ahmed, Head of Retail Banking, emphasized the
importance of financial liberation for true empowerment. She acknowledged the
progress made but stressed the need for further efforts to advance women's
financial inclusion.
Bank
Alfalah enters into fintech foray
Bank Alfalah's commitment to gender equality extends
internally as well. In 2023, 20.4% of the bank's workforce comprised women,
with 30% of new hires being women. Furthermore, 17% of promotions went to
women, and over 160 women availed maternity leave, with a remarkable 89.6%
returning to work. The bank boasts diverse leadership, with 82 women serving as
branch managers and 93 as branch operations managers.
As Bank Alfalah commemorates International Women’s Day, it
reaffirms its dedication to fostering an equitable and inclusive society. The
bank remains steadfast in its mission to empower women across Pakistan's
financial landscape, striving to create an environment where women can thrive
and succeed.
Source: Pro Pakistani