Pakistan

SBP launches interest-free loans for women entrepreneurs

The State Bank of Pakistan (SBP) has announced a game-changing initiative to empower women with interest-free loans of up to Rs. 0.5 million. This bold move is aimed at transforming unemployed women into dynamic contributors to the national economy.

The initiative was unveiled by Fazal Muqeem, Deputy Chief Manager of SBP in Dera Ismail Khan, during a special seminar titled ‘Women Bankability and Banking on Equality’ held at the Government Polytechnic Institute (GPI) for women.

Muqeem said that the initiative aims to help women start their own businesses and become productive citizens. He added that this would not only make them stronger but also enable them to support their families and provide better education for their kids.

He also said that the government, in collaboration with SBP, is working on policies to turn unemployed women into income tax filers and reduce their tax burden.

He urged everyone to embrace digital technologies and encouraged citizens to open bank accounts, which are now available for women just like men.

Assistant Director Muhammad Zubair also spoke at the seminar and highlighted SBP’s commitment to gender equality and economic empowerment.

Sara Khan, Principal of GPI for women, expressed her gratitude to SBP for their support in making students self-reliant. She believes that many women will benefit from this policy in the future and hopes that similar seminars will continue to empower the eligible women of Dera Ismail Khan.

Expressing her optimism, “This policy is a beacon of hope and is bound to yield dividends by benefiting countless women in Dera Ismail Khan,” she stated with confidence.

The seminar, attended by notable guests including Muhammad Amir Ejaz, Assistant Chief Manager of SBP Dera Ismail Khan, was part of SBP’s efforts to promote women’s entrepreneurship and financial inclusion.

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