In today’s rapidly transforming digital and banking landscape, financial inclusion has emerged as a critical concern that has captured the attention of policymakers and industry leaders worldwide, particularly for marginalized groups such as women and Persons with Disabilities (PwDs).
Despite advancements in Pakistan’s banking sector, there remains a significant gap in addressing the financial requirements of these underserved populations.
Official statistics reveal that a mere 8% of women in the country own a bank account.
At the same time, the number of registered PwDs remains strikingly low, accounting for only 2.38% of the total population.
However, these figures are considered grossly underestimated, with estimates indicating that up to 6.2% of the population may have some form of disability.
With Pakistan’s aging population and the increasing prevalence of chronic illnesses, the number of PwDs is expected to rise significantly.
While the government has taken noteworthy strides in fostering a culture of Diversity and Inclusion (D&I) that embraces differently-abled individuals and women, it is imperative for private organizations also to ensure that unserved segments have access to equal opportunities in the workplace.
Such initiatives will not only promote inclusion for all but empower both women and PwDs to participate more actively in the economic sphere as well.
According to the Disabled Persons (Employment and Rehabilitation) Ordinance 1981 and the National Policy for Persons with Disabilities 2002, financial institutions in Pakistan have a legal obligation to prioritize the needs of PwDs by offering them easy access to services and facilities.
Catering to the needs of unbanked and underbanked groups, such as women and PwDs, serves two important purposes.
Firstly, it enhances inclusion and demonstrates the organization’s commitment to social responsibility.
Secondly, it allows the organization to tap into a potentially lucrative and rapidly growing market.
To realize the goal of inclusion, the banking industry has made concerted efforts to increase awareness and understanding of the rights and responsibilities of PwDs and other underserved groups.
Apart from providing accessible financial products and services, many banks and Microfinance Institutions (MFIs) also sensitize staff to interact appropriately with differently-abled customers and employees.
Chief People Officer, Mobilink Bank, Aleena Tanvir, has stated:
“Given the global presence of one billion individuals with disabilities, an imperative demand exists for inclusive policies and products across all sectors, including the banking industry. We firmly believe that a team composed of individuals embodying diverse backgrounds, experiences, and abilities possesses the potential to infuse fresh perspectives and foster innovative ideas, ultimately driving growth.
“The Bank’s commitment to inclusive recruitment practices is a testament to its dedication to building a dynamic and forward-thinking team that reflects the diverse communities it serves and offers inclusive and accessible digital financial products for all.”
The Bank’s efforts to address the hiring of PwDs and women have been substantial, largely driven by its flagship sustainability initiatives, the Humqadam program and Women Inspirational Network (WIN).
Launched in 2020, Humqadam provides a unique learning opportunity for PwDs to acquire critical digital and financial skills necessary to excel in the corporate world.
The trainees under Humqadam participate in an intensive three-month mentorship program and work with team leaders who facilitate their professional growth and development.
Currently, the Bank has over 11 differently-abled individuals assigned to various departments based on their education and skillsets.
Humqadam closely aligns with the United Nations Sustainable Development Goals 2030, underscoring the Bank’s commitment to promoting sustainable and inclusive economic growth.
Its objective is to facilitate access to digital and financial services, thereby enabling differently-abled individuals to participate fully in the economic landscape.
In recognition of its efforts, Humqadam also received the highly regarded Diversity & Inclusion Leader Award two years in a row. This prestigious accolade serves as a testament to the unwavering dedication of the initiative to providing equal opportunities for all and empowering marginalized individuals to achieve their full potential.
By eliminating barriers, raising awareness among employees, and implementing proactive measures toward disability inclusion, organizations can ensure that everyone has access to the tools they need to achieve their goals.
As industries continue to transform, the need for inclusive practices has become increasingly crucial, especially for women and PwDs.
Mobilink Bank recognizes this urgent need and has been promoting inclusion in Pakistan for the past 11 years.
Through Humqadam and WIN, the Bank has been empowering PwDs and women by offering access to specialized training programs and workshops to help them develop the skills and knowledge necessary to succeed in the workplace or start their own businesses.
As the Bank celebrates its 11th anniversary, it is dedicated to strengthening its efforts to collaborate with like-minded organizations toward building a more inclusive ecosystem.
The Bank is endeavoring not only to establish an accessible environment for PwDs but also to harness its efforts toward enabling women in Pakistan through its upskilling initiative, the WIN program.
The Bank is fervently reducing the gap in financial inclusion by providing underserved groups with the necessary training and resources to acquire digital and financial skills, which have become imperative in the rapidly-evolving landscape of the modern world.
Humqadam and WIN serve as exemplary models for other organizations in Pakistan and beyond to follow suit and create an inclusive environment accommodating individuals from diverse backgrounds, enabling them to succeed and contribute to their full potential.
Source: Pro Pakistani