Governor SBP underscores need to support women entrepreneurs for inclusive Pakistan

November 19, 2024 (MLN): Mr Jameel Ahmad, the governor of the State Bank of Pakistan (SBP) on Tuesday emphasized the urgent need to bolster support for women entrepreneurs in Pakistan.

Speaking at the Women Entrepreneurship Day hosted by SBP in Karachi, he revealed that women constitute less than 10% of total borrowers and own only 26% of bank accounts in the country.

The event underscored the SBP’s commitment to increasing women’s participation in the financial and economic sectors.

Mr Ahmad reaffirmed the bank’s dedication to empowering women entrepreneurs through inclusive policies and initiatives, recognizing their vital role in driving economic growth and innovation.

This initiative aligns with SBP's broader efforts to bridge gender gaps in Pakistan's financial system and promote sustainable development.

The event brought together various stakeholders, including international and local partner institutes, banks, civil society, and successful women entrepreneurs.

During his keynote address, Mr Ahmad highlighted the critical role of women-owned businesses in driving innovation, economic growth, and community development.

He acknowledged the structural and cultural challenges women entrepreneurs face, such as limited access to finance, markets, and mentorship. Despite these challenges, women in Pakistan have shown remarkable determination and success in various sectors, including agriculture, technology, and manufacturing.

Mr Ahmad appreciated the efforts of banks in disbursing about Rs24 billion to over 20,000 women-led businesses from July 1, 2024, to November 10, 2024.

The SBP conducted over 50 sessions through its Banking Services Corporation offices, reaching over 1500 women entrepreneurs to inform them about available financing opportunities.

He urged financial institutions to adopt innovative and inclusive approaches and emphasized the importance of partnerships with organizations such as UN Women and USAID.

The event concluded with awards presented to outstanding women entrepreneurs and banks for their contributions to advancing women's economic participation.

The governor expressed hope that these trailblazers would inspire future generations and that the SBP remains committed to fostering an inclusive financial ecosystem that empowers women.

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