KARACHI: President Dr Arif Alvi asked banking institutions to Sindh Governor House Governor House to review progress on initiatives aimed at financial inclusion of women and differently-abled persons, progress on measures taken to ensure employment and financial opportunities for them and other issues of banking industry he said it was encouraging to see ratio of female in bank account holders and banking sector jobs had recorded significant growth in previous years but still more efforts were required by sector to promote gender equality and inclusion of all segments of society for achieving objectives of inclusive banking.

He said jobs for people with disabilities could be tailored in banking industry and process of bank account opening could be made easy further.

President Alvi proposed bank officials to explore part-time job avenues in their institutions for household women. Referring to fast-paced growth of digital technologies across world, he said banking industry in Pakistan had to keep pace with evolving trends with maximum use of  information technology as “IT driven financial inclusion at grassroots level not only encourages taxable economy, but also contributes to country’s economic development”. Increased use of IT in banking industry had also exposed sector to frauds and that was why regulatory mechanism of safety and ease was equally important, he added.

He emphasised need for fast-track decision-making process besides addressing banking services issues through regulatory framework and fair and just redressal mechanism.

Dr Alvi said creating awareness at community level about banking issues was global practice and urged bankers to sensitise people about their products and services through modern means of communication.

Urging for reviewing and updating Corporate Social Responsibility regulations, President asked banks to do the maximum in fields of financial literacy and environment.

SBP officials and heads of commercial banks informed President that measures like branch-less banking, easing process of accounts opening particularly for women and persons with disabilities and banking on equality resulted into increased ratio of women both as account holders and jobs in banks while 2 percent disability quota was also being ensured in sector.

Published in The Daily National Courier, August, 29 2023

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