Islamabad, Mar 24, 2025: Bank Alfalah, one of Pakistan’s leading commercial banks, has partnered with Akhuwat to launch a transformative initiative aimed at empowering over 1000 women entrepreneurs through interest-free microfinance over the next three years.
This strategic collaboration is a major step towards financial inclusion, gender equality, and sustainable development in Pakistan.
Akhuwat’s Legacy in Interest-Free Microfinance
Since its establishment in 2001, Akhuwat has been a trailblazer in providing interest-free loans to underprivileged communities.
With over PKR 250 billion disbursed and more than 4 million families supported, the organization has played a crucial role in poverty alleviation.
Beyond financial assistance, Akhuwat also offers education, healthcare, and social guidance, ensuring a holistic approach to community development.
Empowering Women Through Interest-Free Loans
The newly established women’s empowerment centre in Karachi will act as a dedicated hub for aspiring female entrepreneurs.
Under Akhuwat’s Qarz-e-Hasan model, women from disadvantaged backgrounds will have access to interest-free loans ranging from PKR 30,000 to PKR 100,000, enabling them to start or expand their businesses.
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This initiative directly supports the United Nations Sustainable Development Goals (SDGs), particularly SDG 5 (Gender Equality) and SDG 8 (Decent Work and Economic Growth).
Comprehensive Support for Women Entrepreneurs
In addition to financial assistance, the centre will provide essential services, including:
- Financial literacy training to enhance business management skills.
- Networking opportunities to build a strong community of women entrepreneurs.
- Social and civic guidance to promote sustainable business practices.
A key aspect of this initiative is the creation of a self-sustaining economic cycle, where successful borrowers can transition into donors, ensuring continuous support for future entrepreneurs.
Leaders’ Commitment to Economic Inclusion
Mehreen Ahmed, Group Head of Retail Banking at Bank Alfalah, emphasized the importance of financial inclusion for women, stating, “Empowering women is crucial for Pakistan’s socio-economic progress.
This partnership with Akhuwat provides aspiring women entrepreneurs the opportunity to transform their ideas into successful businesses, contributing to the country’s economic growth.”
Dr. Amjad Saqib, Founder and Executive Director of Akhuwat, highlighted the initiative’s impact, saying, “Akhuwat’s mission is to uplift communities through mutual support.
With Bank Alfalah’s collaboration, we aim to create a pathway for women to achieve financial independence and become active economic contributors.”
Bank Alfalah’s Ongoing Commitment to Financial Inclusion
As a key player in financial empowerment, Bank Alfalah has been instrumental in supporting underserved communities.
The bank has facilitated financial access for over 4.3 million women under the Benazir Income Support Program (BISP).
Through its ‘Banking on Equality’ framework, the bank has also engaged 2,600 farmers in financial literacy and disbursed Rs. 10.4 billion to SMEs under the SAAF scheme.
Additionally, the Revive and Rise microfinance program has benefited 700 rural entrepreneurs with PKR 200 million in loans, with 43% of recipients being women.
This partnership between Bank Alfalah and Akhuwat reinforces their shared vision of bridging financial gaps, promoting gender equality, and fostering sustainable economic growth across Pakistan.
