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Empowering the Masses: Oraan's Impact on 100,000+ Women of Pakistan

05:22 PM | 11 Aug, 2023
Empowering the Masses: Oraan's Impact on 100,000+ Women of Pakistan

In Pakistan, women have often faced problems when trying to use financial services. This is because of things like old ideas about men and women, not knowing much about money, and not being able to easily use banks.

These problems have kept many women stuck in poverty. According to the World Bank, in 2021, only 11 out of every 100 women above 18 years old have a bank account, while for men it's 20 out of 100. This big difference shows that there is a big need for better financial services for women. (Source: World Bank)

But here's where Oraan comes in, like a bright light in the dark. Oraan is working to break these problems and give women access to money that they otherwise wouldn't."Committees" or ROSCAs (Rotating Savings and Credit Association) that people have been doing for a long time. It's like friends getting together, putting their money together, and taking turns getting a bigger sum. Since this concept is already familiar to them, Oraan saw this idea and thought, "Why not use technology to make it even better?"

Halima Iqbal, Co-founder & CEO at Oraan.

With Oraan's help, these committees have become a modern and high-tech risk of bad things happening, like people stealing their money. Oraan made an app that's easy to use on your phone.

Women can join committees, save money monthly, and get money back on their committed time without any trouble. And before they join, Oraan makes sure they're really who they say they are by verifying their details. This simple idea has changed things a lot. Now, many women can access opportunities they couldn't before in a secure and safe way. 

Another thing is that many women in Pakistan don't know a lot about money. It's like a puzzle they haven't solved yet. A study in 2022 found that only 15 out of every 100 women understood money matters, but for men, it was 47 out of 100. (Source: Karandaaz Pakistan) Oraan is like a helpful friend in this situation too.

They share useful information on social media and even have a special group on Facebook just for women. They also organize events where women can meet and learn about money together.

Majida Malik who is Head of Growth at Oraan, says, "Our journey with Oraan digital committee has been nothing short of transformative. We've seen firsthand how financial empowerment isn't just about numbers on a screen; it's a profound social impact that ripples through families and communities. As the Growth Head at Oraan, it's heartening to know that every download of our app signifies another step towards breaking down barriers”

Oraan's new way of doing committees has helped more than 100,000+ women save money. They used technology and their own creative ideas to make sure women aren't left out anymore. Oraan is like a bridge to a better life for women in Pakistan. By using technology and believing in themselves, Oraan has given women the chance to be more confident and powerful. They're like a guiding star, showing women that they too can be a part of their country's growth story.

Daily Pakistan Global Web Desk

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Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
 
76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
 
1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

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