Digital credit for social impact discussed

Islamabad: Leading experts in the field of finance shared their views on the imminent growth of digital credit in Pakistan at a panel discussion on “Digital Credit for Social Impact’’ organised by Consumer Facilitation Technologies (Pvt) Limited and Parwaan Children’s Global Network Pakistan (CGN-P) here on Wednesday, says a press release.

The discussion aimed to inform the C-level management of various public and private organizations about the potential benefits of digital credit on the Pakistani society. The crux of the panel discussion was how easily financial access can be expanded to the general public to help create a more equal society through increased opportunity.

The panellists included Syed Mohsin Ahmed CEO Pakistan Microfinance Network Rehan Akhtar from Karandaaz, Mehnaz Aziz CEO Parwaan CGN-P, Syed Owais Zaidi CEO CreditFix, Network Alliance Partner, Ammar Jaffri CEO e-Pakistan, whereas the participants of the discussion were representatives of microfinance institutions and development sector organizations.

The panel discussion was chaired by Owais Zaidi who remarked that there are 110 million working adults in Pakistan who require loan but are unable to acquire it. In this context we need to create linkages and work with all the stakeholders in order to reach maximum number of potential entrepreneurs.

Mehnaz Aziz stated that youth unemployment is prevalent in Pakistan and through Parwaan Preschool Program we are providing income-generation opportunities to youth in most marginalised areas. She remarked that those entrepreneurs living in far-flung areas do not have enough means or access to credit lending institutions. By joining hands with CreditFix we aim to provide credit service to the enterprising youth planning to establish their Early Childhood Development Centers. Syed Mohsin Ahmed and Rehan Akhtar also noted the need of forging partnerships for Digital Lending.