SBP to Give Interest-Free Loans to Women

The State Bank of Pakistan (SBP) is taking innovative measures to promote economic stability among unemployed women by providing them with interest-free loans to kickstart substantial business ventures.

This progressive initiative was recently unveiled by Fazal Muqeem, Deputy Chief Manager of SBP in Dera Ismail Khan, during a seminar titled ‘Women Bankability and Banking on Equality,’ held at the Government Polytechnic Institute (GPI) for women.

Muqeem highlighted that supporting women in establishing their businesses would not only empower them but also enable them to provide for their families and ensure quality education for their children. Given the prevailing inflation affecting various segments of society, particularly those with limited financial resources, Muqeem stressed that entrepreneurship offers a crucial solution.

In collaboration with the government, SBP has introduced policies aimed at transforming unemployed women into productive and self-reliant individuals. As part of these policies, unemployed women are being granted equal access to bank accounts with men, making them eligible for interest-free loans of up to Rs. 0.5 million.

Assistant Director Muhammad Zubair emphasized the importance of embracing digital technologies and encouraged citizens to become income tax filers as a means to reduce their tax liabilities.

Sara Khan, principal of GPI for women, expressed her gratitude to SBP for its support in equipping students with self-sufficiency skills. She also highlighted the potential benefits of this policy for many women in the future. She expressed hope that similar seminars would continue to empower eligible women in Dera Ismail Khan.

The seminar, attended by notable guests including Muhammad Amir Ejaz, Assistant Chief Manager of SBP Dera Ismail Khan, underscored SBP’s dedication to gender equality and economic empowerment. This initiative holds the promise of creating a more inclusive and economically stable society.

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