In the heart of Pakistan, amidst its rich history and cultural diversity, there exists a heartbreaking narrative of untapped potential and unrealized dreams, particularly among its women. Despite progress and development in various sectors, there can still be seen a gender gap and a lack of financial literacy and awareness that hinders economic enablement for women. In this context, the microfinance banking sector has played a vital role in poverty alleviation and tackling the need for financial empowerment of the people.
U Microfinance Bank (U Bank) has emerged as one of the leading microfinance banks in Pakistan, with the most significant geographic footprint across the nation, as a beacon of change that strives to overcome gender-based limitations and offer financial services designed to enable and uplift women economically. In celebration of International Women’s Day 2024, we spotlight the remarkable efforts of U Bank in empowering women under the banner of its dedicated agenda ‘U Bank Khawaten’.
U Bank not only offers microcredit and savings facilities to foster women’s entrepreneurial spirit, but it also provides its female staff with inclusive and progressive workspaces to help them build themselves.
Financial Services
One of its prominent initiatives is the ‘Shana Bashana Loan,’ a tailor-made product designed to support women entrepreneurs that provide business loans of up to 3 million rupees, enabling them with access to capital to help establish or expand their businesses and achieve financial independence. Complementing this is the ‘Rehnuma Bachat Account,’ a savings account designed exclusively for women. It provides them with a secure avenue to save their hard-earned money while offering lucrative returns on their deposits. This can empower them to build a solid financial foundation for themselves and their families.
Accessibility
U Bank’s vast network of 375+ bank branches spreads out to multiple urban and remote rural locations, making its financial services accessible to the women residing there. In addition, U Bank’s online banking facilities and the UPaisa mobile wallet are crucial in providing women with accessibility in the face of cultural or physical limitations. Its potent combination of branch and branchless banking services has complete potential to empower women by giving them control over their finances in the palm of their hands.
Employment Opportunities
One of the most impactful aspects of U Bank’s commitment is the employment opportunities it has created. Across its network in Pakistan, which includes small cities and villages, U Bank provides hundreds of women with meaningful employment, helping them become financially strong, resilient, and empowered contributors to their respective communities. It is a strong part of U Bank’s ethos to provide safe and inclusive working conditions for its female staff members, helping them break barriers and reach newer heights.
U Bank continues to invest in women, inspiring their social and financial inclusion to accelerate and encourage progress for all. It stands as a beacon of hope, believing that when women succeed, communities prosper, and progress becomes unstoppable.
