MMBL Partners With IWCCI To Promote Access To Digital Financial Solutions For Women Micro-Entrepreneurs
Mobilink Microfinance Bank Limited (MMBL) and the Islamabad Women Chamber of Commerce and Industry (IWCCI) have signed a Memorandum of Understanding (MoU) to promote and strengthen access to Digital Financial Solutions (DFS) for women borrowers and micro-entrepreneurs.
Financial inclusion is one of MMBL’s main pillars, and the bank is dedicated to assisting its female borrowers by leading the way for simple, seamless, and cheap DFS services. MMBL is constantly working to meet the finance needs of women by removing barriers that limit their access to financial services with custom-designed female-centric solutions. This Memorandum of Understanding will make it easier for women businesses to obtain financial credit.
The collaboration between MMBL and IWCCI is another step ahead in MMBL’s support of several projects aimed at creating a supportive environment for women borrowers and micro-entrepreneurs, helping them to grow their enterprises while also expanding their reach. IWCCI will give micro-entrepreneurs with marketing opportunities while also assisting them in enhancing their financial situation through customized entrepreneurial capacity-building seminars and training programmes.
By raising knowledge about DFS, including mobile wallets, this coalition aims to improve chances for women’s financial inclusion.
“It is a struggle for Pakistan to achieve comprehensive financial inclusion and achieve sustainable growth unless access to financial resources is ensured for the 49 percent of the population that is made up of women,” said Ghazanfar Azzam, President and CEO of MMBL.
“MMBL has made conscious efforts to incorporate women borrowers and micro-entrepreneurs in the financial net through its Women Inspirational Network (WIN) programme. We’ve trained over 500 women in financial management in urban and rural enterprises since the programme began, and our commitment to fostering financial literacy continues.”
“Through this relationship with IWCCI, we will continue to help women better comprehend Pakistan’s digital financial ecosystem while also providing them with greater opportunities to get official access to financial capital,” he added.
“At IWCCI, we are focused on helping businesses accomplish their ambitions,” stated Naima Ansari, president of the organisation. It is now critical for women-owned enterprises to take use of financial opportunities in order to scale and expand their businesses.”
“We are excited to collaborate with MMBL to develop financial products tailored to the needs of women business owners, paving the door for their financial inclusion and success,” she said.
Small and medium enterprises (SMEs) account for over 40% of the country’s GDP, and MMBL recognises the need to boost them. Upskilling women in DFS and mobile wallets is critical to establishing and fostering a digital economy, according to MMBL and IWCCI.
Through its varied portfolio and skills development workshops in a variety of capacities, including but not limited to financial management, personal entrepreneurial abilities, and company planning, MMBL is dedicated to increasing financial inclusion through its strategic partnerships.