Khushhali Bank observed International Women's Day (IWD) in recognition of the economic, political and social empowerment of women, said a press release issued recently.
The IWD holds significance and is symbolic of women empowerment, female solidarity and equality. This day is celebrated to commemorate women working in the formal and informal sectors despite the numerous cultural and socio-economic challenges encountered in their everyday lives and the courage and perseverance in surmounting these obstacles with determination.
It is rooted in the centuries old struggle of women for their rights including the right to participate in society on an equal footing and equal opportunity within the economic domain. Ghalib Nishtar, President, Khushhali Bank whilst acknowledging the entrepreneurial abilities of women said "International Women's Day has provided us with an opportunity to recognise and celebrate the cause of women empowerment, particularly in the context of our country where women comprise nearly half the population. Our own experience within the microfinance sector in Pakistan, which is consistent with global experience, has shown that women entrepreneurs demonstrate greater responsibility in terms of enterprise development."
The Asian Development Bank Institute based in Tokyo, Japan, conducted a study on the need for making microfinance institutions sustainable to deliver services to the poor. It chose Khushhali Bank for analysing the impact of microfinance institutions on poverty reduction. Among other findings the study revealed that access to and participation in the Khushhali Bank programme increased empowerment of women. The bank's lending to female clients also enhanced their level of confidence and enabled them to contribute positively to the well-being of their families.-PR