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January 9, 2011

Ladies fund launched to support businesswomen

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January 9, 2011

KARACHI: The Dawood Capital Management Limited (DCML) in collaboration with the British Deputy High Commission on Saturday announced the launching of a special fund catering to the saving and investment needs of women in Pakistan.
“The Ladiesfund specifically focuses on working women who want to start businesses and face difficulties in making a right decision in absence of any advisory service. Any women, even a housewife, can participate in the fund by investing just Rs500. For those women who work, this is an opportunity to place 20 per cent of their salaries and earn a return of 18 per cent,” said CEO DCML Tara Uzra Dawood while speaking to newsmen at the British Deputy High Commission.
The initiative comes as studies show that women are much better savers than men and can help in overall economic prosperity if allowed to start small businesses.
Deputy High Commissioner Robert Gibson said, “In UK, only 10 per cent of board members of FTSE 100 companies are women. A London Business School study evaluates that women’s lack of exploitation of networking is key factor in this. Oliver Williamson, Nobel Laureate for Economics 2009, stressed that the cost of doing business significantly decreases if a venture starts among people who know each other.”
Director IBA, Ishrat Hussain said that financial empowerment of women in a country like Pakistan always helps in bringing larger prosperity to the family. “Studies the world over have shown that women are good savers,” he added. Former Naib Nazim Karachi Nasreen Jalil said that Muttahida Qaumi Movement will extend every help possible for helping promote the initiative.
It must be noted that proceeds generated from the event will be used to support initiatives for uplifting women and also offer scholarships for Karachi University.
The press conference was followed by a lunch hosted for professionals and businesswomen who got a chance to meet and share ideas.

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