SBP to Give Interest-Free Loans to Women

The State Bank of Pakistan (SBP) is taking groundbreaking steps to bolster economic stability for unemployed women by offering them interest-free loans to kickstart large-scale businesses. This initiative was announced by Fazal Muqeem, Deputy Chief Manager of SBP in Dera Ismail Khan, during a one-day seminar titled ‘Women Bankability and Banking on Equality,’ hosted by SBP at the Government Polytechnic Institute (GPI) for women.

Muqeem emphasized that enabling women to establish their businesses would not only empower them but also allow them to support their families and provide quality education for their children. In the face of rampant inflation affecting all sectors of society, especially those with limited income resources, Muqeem asserted that entrepreneurship was a vital solution.

The government, in collaboration with SBP, has introduced policies to transform unemployed women into productive citizens. As part of these policies, bank accounts for unemployed women are being opened on an equal basis with men, granting them access to interest-free loans of up to Rs. 0.5 million.

Assistant Director Muhammad Zubair highlighted the importance of embracing digital technologies, urging citizens to become income tax filers to reduce their tax burden.

Sara Khan, Principal of GPI for women, expressed gratitude to SBP for their support in making students self-sufficient and emphasized that many women would benefit from this policy in the future. She hoped that similar seminars would continue to empower the eligible women of Dera Ismail Khan.

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