KARACHI: The Master-Card strive women program in Pakistan welcomes a new partnership with the Bank of Punjab (BoP), jointly aiming to improve formal financial access for women-led micro and small entrepreneurs in Pakistan.
Strive Women, supported by the MasterCard Center for Inclusive Growth and implemented by CARE, bolsters women entrepreneurs in Pakistan, Peru, and Vietnam, and aims to strengthen their financial health and resilience. Strive women in Pakistan pledges to support 100,000 entrepreneurs, of which at least 70% will be women.
The majority (79%)of Pakistan’s population operates outside of the formal banking system1, while82% of women remain unbanked2.The situation poses a serious challenge for small and medium-sized enterprises (SMEs),which hold crucial importance for the country’s economy due to their role in job creation, innovation, and regional development.
BOP, in collaboration with CARE Pakistan and the MasterCard Center for Inclusive Growth, will support this segment through its range of financial services and products. In line with its commitment to promoting gender equality, BOP has launched a suite of financial products tailored to women under the name BOP NAAZ.
Copyright Business Recorder, 2024
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