Sunday October 24, 2021

40pc of women representation in financial institutions demanded

August 13, 2021

Islamabad : Financial institutions and companies must guarantee at least 40 per cent participation and equal access of women and men at senior level positions.

The recommendation was tabled at a roundtable meeting organised by Fair Finance Pakistan with Rawalpindi Chamber of Commerce and Industries (RCCI) on responsible banking in the country. The meeting was aimed at strengthening multi-stakeholders’ dialogue and action on sustainable finance in Pakistan.

The meeting was well attended by over 50 members from the Rawalpindi Chamber of Commerce and Industry, deputy chief from the State Bank of Pakistan, senior representatives from leading commercial banks including HBL, UBL, National Bank, Askari Bank, Meezan Bank, Faysal Bank, Bank of Punjab, First Women Bank, Apna officials from the Pakistan Banks’ Association and civil society organizations.

A joint communique was presented at the meeting which puts forward recommendations to the Prime Minister of Pakistan, Finance Minister, Governor, State Bank of Pakistan and Chairperson, Securities and Exchange Commission of Pakistan to play a more pro-active role in ensuring inclusive financing, especially for women.

Nasir Zaman, President, Rawalpindi Chamber of Commerce and Industry made a strong commitment that the joint communique presents a holistic picture for the regulators and is a collective voice from the business community that this is the time for reform to nurture the business and harness the environment by the regulator.

During the roundtable, Fair Finance Pakistan presented the findings of “Strengthening Sustainable Finance in Pakistan: A scoping review towards institutionalizing Fair Finance Pakistan,” authored by Dr. Abid Aman Burki from Lahore University of Management Sciences. The scoping review gave an analysis of financial inclusion in Pakistan which is at 21 per cent compared to the State Bank’s ambitious goal of 50 per cent by 2020.