The key to women empowerment lies in their financial uplift, and this is where microfinance plays its strategic role. Poverty is malicious truth in the country, and the typical banking and financial services are generally inaccessible by low-income individuals. Where micro lending has gradually made inroads in the grass root level, it has emerged as an effective tool to empower women.
Researches and studies have shown how access to financial services has improved the status of women world-wide. And for Pakistan women with skills that match none, microfinance can prove to be the gizmo for their economic empowerment. In this regard, Khushhali Bank's contribution is remarkable; Khushhali Bank is the largest microfinance institution in Pakistan in terms of coverage with financing services for the poor and tailored particularly for women. The bank's micro loans feature social collateral, easy repayment mechanism, personal banking, trust building, and community-based lending.
Then bank has a huge female clientele, and sharing their success stories on International Women's day is what's needed. The scribe's encounter with a few of them is illustrated herewith.
Nadia Sajid With the sound of school bell ringing, teachers talking and children rushing off to home, everything seemed a well-rounded routine at Sir Syed Middle School for Girls. Though the idea of running a school wasn't new to Nadia Sajid who has re-opened the school that was once run by her mother-in-law, setting it up and getting it going were the key challenges for her. Nadia Sajid lives and runs a school at a rented facility in Bhagwanpura. Her inspiration came from hundreds of children in the neighbourhood running on the streets as their parents cannot afford their education expenses.
Nadia decided to continue to with her mother-in-law's dream, capitalising on the name she had left behind. It's been five years that she has been running the school, but according to her the breakthrough for her venture came a year ago when she approached Khushhali Bank for a loan, and moved the students from floor to chairs. "I needed cash to move one step ahead and get the school registered with Punjab Education Board. And Khushhali Bank was right there to help be achieve my dream", she exclaimed with excitement.
Nadia was able to get a loan worth Rs 100,000 from Khushhali Bank, which she used for her investment in furniture and infrastructure. She came to know about Khushhali Bank through her affiliations with Punjab Education Foundation's Student Information System (SIS). Appreciating the Bank's support, she said that not only was she able to get higher number of admissions, but also higher fees from children due to better facilities. In one year, the number of students has gone up from 90 to 200. Her monthly sales are Rs 40,000.
Nadia has been lucky in that she has had the emotional, and a bit of financial support from her husband who has a lamination business that has not been going well due to power shortages. And today Nadia Sajid is a key contributor to her family's income where she runs a school with 200 students and 10 teachers. Expressing her intentions to go back to the bank for her second loan cycle, Nadia said, "It is because of Khushhali Bank that I plan to open a second branch of the school at main Bhagwanpura."
Sumaira Nadeem If there was one word to describe Sumaira, it would be optimistic. Sumaira runs a beauty parlour that is attracting significant clientele. But it hasn't been easy for her either. She got married at a very young age, and due to her husband's financial situation she opened a beauty parlour at her house after completing the relevant course. However, she had to return to her parents' house due to family problems and her husband's second marriage. As young mother with five kids, she could not rely on her husband for financial support who himself was in a financial crisis and had another family to feed. Her parents, and particularly her father, have been her greatest support in all the tough times.
Sumaira decided to lead her own way; with financial support from her parents and her uncle, Sumaira started her business close to her parent's house. Due to financial and administrative hardships, Sumaira needed capital. She got to know about Khushhali Bank through a lady in her neighbourhood who facilitates women in getting loans. Sumaira has taken her first loan of Rs 20,000 and she seems pretty satisfied with it.
Today her business of three years is so successful that she is paying not only for her own expenses, her children's education, and contributing to her father's income, but also for her husband. She bought her husband a motor bike so that he could visit his children. Not only that, Sumaira recently paid solely for her youngest sister's wedding.
Sumaira is truly an inspiration. Today, she is the sole earner and a source of encouragement for women in her family who have had financial problems. With an experience of 9-10 years, she has completed three beautician courses to polish her talent. Her earnestness reflects in her coaching and training sessions held at her parlour. And she plans to invest further in her business; her dream is to have a well-furnished salon at a better locality with improved services, and that she believes can only be accomplished through the continuous support and empowerment from Khushhali Bank. She is earning around Rs 1000-1500 per day on average.
Comments
Comments are closed.