ADB, SECP collaborate to enhance gender diversity in NBMFCs

ISLAMABAD: The Asian Development Bank (ADB) and the Securities and Exchange Commission of Pakistan (SECP) conducted a two-day Training of Trainers (ToT) workshop on Dec 17-18, 2024, to enhance gender diversity in Non-Banking Microfinance Companies (NBMFCs).

Representative of all NBMFCs regulated by the SECP had attended this session. The initiative prioritized promoting gender inclusivity within organizations and enhancing services tailored to women, who constitute over 70% of the sector’s clientele.

The workshop trained participants to identify gender biases, implement inclusive policies, and tailor financial products for women, encouraging a customer-centric approach. SECP’s Executive Director, Khalida Habib, highlighted the importance of the initiative, stating,

“This workshop is a step forward in promoting gender diversity in Pakistan’s financial ecosystem, equipping companies to address gender-related challenges and contribute to national goals of inclusion and equity.”

ADB’s Deputy Country Director, Asad Aleem underscored ADB’s commitment to gender equity, adding, “Gender diversity is vital for sustainable development. This collaboration reflects our shared vision of inclusive financial systems that empower women and drive economic resilience in Pakistan.”

In addition, an exclusive session on consumer protection was held on Dec 23, 2024, focusing on Consumer Protection Framework for NBMFCs and its link to the Women Equality in Finance Policy for NBMFC approved by the SECP. This reinforced SECP’s commitment to balancing gender equity with robust consumer safeguards.

The ToT model ensures long-term impact by enabling participants to train other colleagues at NBMFC, amplifying the reach of this initiative. This collaboration demonstrates ADB’s and SECP’s dedication to empowering women and fostering inclusive growth in Pakistan’s financial landscape.

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