From Zeeshan Mirza
KARACHI: President, Dr. Arif Alvi Monday asked the banking institutions to take measures to further strengthening financial inclusion and gender equality in the sector.
Besides provision of easy and accessible financial services to women and differently abled persons, he emphasized the banking sector to focus on providing more employment opportunities and financing facilities as well as extending job training and financial literacy to them.
The president was chairing a meeting with representatives of banking industry held here at Sindh Governor House to review progress on initiatives aimed at financial inclusion of women and differently abled persons, progress on measures taken to ensure employment and financial opportunities for them and other issues of banking industry.
The meeting was attended by senior officials of State Bank of Pakistan and Chief Executive Officers of different commercial banks. Terming meaningful participation of women in economic activities as vital for progress and prosperity of the country, the president said that it was encouraging to see the ratio of female in bank account holders and banking sector jobs had recorded a significant growth in previous years but still more efforts were required by the sector to promote gender equality and inclusion of all segments of the society for achieving the objectives of inclusive banking.
He said that the jobs for the people with disabilities could be tailored in the banking industry and the process of bank account opening could be eased further.
President, Alvi also proposed to the banks to find avenues on part-time jobs in the banks for the women having household responsibilities.
He while referring to fast paced growth of digital technologies across the world, said that the banking industry in Pakistan had to keep pace with the evolving trends with the maximum use of IT expertise as IT driven financial inclusion at grass root level not only encourages taxable economy, but it also contributed to the economic development of the country.
Increasing input of IT in the banking industry had also created the lurking fears of fraud, he observed and maintained that regulatory mechanism of safety and ease in the banking system was equally important as community service to the people.
The president emphasized the need to make decision-making process fast in the sector, address banking issues along with the regulatory framework by the banks and redressal mechanism fair and just.
Dr. Alvi said that information and awareness at community level on banking issues was the global practice and urged banking sector to impart awareness and communicate details of their banking and financial products and services to masses through modern means of communication.
Awareness and information led to better results as it was witnessed in cases of Covid-19 prevention and awareness about breast cancer, he added.
Urging on the need of reviewing and updating Corporate Social Responsibility (CSR) component of the banking sector, the president asked the banks to do their maximum in fields of financial literacy and environment as service of the society.
The SBP officials and heads of commercial banks informed the president that measures like branch-less banking, easing the process of account opening particularly for women and persons with disabilities and banking on equality resulted into increased ratio of women both in account holding and jobs in the banks while 2% disability quota was also being ensured in the sector.
