Islamabad, Jan 4: The Asian Development Bank (ADB) and the Securities and Exchange Commission of Pakistan (SECP) jointly organized a two-day Training of Trainers (ToT) workshop on December 17-18, 2024, aimed at promoting gender diversity in Non-Banking Microfinance Companies (NBMFCs). Representatives from all SECP-regulated NBMFCs participated in this initiative, which focused on fostering inclusivity within organizational frameworks and tailoring financial services to better serve women, who represent over 70% of the sector’s clientele.
The workshop emphasized identifying and addressing gender biases, adopting inclusive workplace policies, and designing financial products that cater to the unique needs of women. Khalida Habib, SECP’s Executive Director, praised the initiative, calling it “a step forward in promoting gender diversity in Pakistan’s financial ecosystem.” She highlighted how the program equips organizations to tackle gender-related challenges and align with national goals of inclusion and equity.
Asad Aleem, ADB’s Deputy Country Director, reiterated ADB’s commitment to gender equity, emphasizing that “gender diversity is vital for sustainable development.” He noted that this collaborative effort embodies the vision of inclusive financial systems that empower women and strengthen economic resilience in Pakistan.
Building on this effort, an exclusive session on December 23, 2024, focused on the Consumer Protection Framework for NBMFCs and its alignment with the SECP-approved Women Equality in Finance Policy. This session underscored SECP’s commitment to balancing gender equity with strong consumer safeguards.
The ToT model’s cascading impact is expected to amplify the initiative’s reach, enabling trained participants to mentor colleagues within their organizations. The collaboration between ADB and SECP underscores a shared dedication to empowering women and advancing inclusive growth, marking a significant milestone in fostering equity within Pakistan’s financial sector.
