Telenor Microfinance Bank (TMB) and Pakistan Bait-ul-Mal have signed an agreement aimed at empowering women through financial literacy training, a statement said on Thursday. This collaboration seeks to educate women across Pakistan on managing financial transactions and accessing credit services through both digital and conventional channels.
The initiative is part of the Women Empowerment Center program, a Pakistan Bait-ul-Mal project that equips underprivileged women with essential life skills. Through this partnership, Telenor Microfinance Bank will conduct training sessions to teach women the basics of banking, including how to open accounts, transfer and receive money, ensure transaction security, and make payments effectively. The training will also help women use this knowledge to start and sustain their businesses.
The first phase of the program will roll out in 12 centers across four major cities. Seven centers will be located in Karachi, three in Lahore, and one each in Rawalpindi and Islamabad. These sessions aim to create a significant impact by reaching women in both urban and semi-urban settings.
Mohammad Mudassar Aqil, President & CEO of Telenor Microfinance Bank, shared his views on this initiative: “The role of women in society is becoming increasingly diversified. However, a substantial number still lack the skills required to handle financial matters. Through this collaboration, Telenor Microfinance Bank aims to support these women by providing practical knowledge to enhance their financial independence.”
He further emphasized, “Women in rural and urban areas often face limitations due to societal mindsets and lack of resources. Telenor Microfinance Bank’s vision is to drive financial inclusion, and this partnership is another step in that direction. By improving financial literacy, deserving women can better contribute to their families and the national economy.”
Pakistan’s low financial inclusion rates, especially among women, highlight the need for such programs. Many women, particularly in rural areas, lack awareness about financial systems and banking. This initiative by Telenor Microfinance Bank and Pakistan Bait-ul-Mal aims to bridge this gap and ensure women have the tools to play an active role in economic development.
As the female population grows and their participation in the workforce increases, improving financial literacy becomes essential. With Telenor Microfinance Bank’s continued efforts, this collaboration aspires to empower women to realize their full potential and secure a more equitable future.