SECP, ADB host workshop

ISLAMABAD: A two-day workshop on women in finance, co-organized by the Securities and Exchange of Pakistan (SECP) and the Asian Development Bank (ADB), concluded on Thursday with a set of recommendations to boost the role and participation of women in the financial sector.

The workshop, titled "Women in Finance Thought Leaders Workshop", brought together experts, regulators, and industry leaders to discuss the challenges and opportunities for women in finance, and to propose solutions to foster a more inclusive and resilient financial ecosystem.

The participants focused on three main areas: the regulatory and legal framework for non-banking microfinance companies (NBMFCs), the supply and demand of financing offerings, and the financial literacy and digital skills of consumers and businesses.

The workshop highlighted the need for more regulatory support and streamlined processes for NBMFCs, which provide access to finance for low-income and marginalized groups, especially women. The workshop also suggested innovative financing mechanisms, such as crowdfunding, peer-to-peer lending, and impact investing, to enhance the diversity and responsiveness of the financial sector.

Key takeaways included the importance of regulatory agility, innovative financing mechanisms, and a client-centric approach to addressing demand-side challenges. Financial literacy, particularly digital literacy, was also emphasized as a need for inclusivity in the financial sector.