The pandemic and the rise of mobile infrastructure have set the stage to bring people living in developing and emerging economies into the digital realm.
Bill and Melinda Gates Are Now Backing New Digital Payments System in Pakistan to Support Financial Inclusion for Women
The new online payments system, Raast, has been launched to support women who might have been financially marginalized or unable to access modern financial services for a long time.
A memorandum of understanding was signed to promote financial inclusion and to open up multiple avenues for collaboration, including medium to long-term debt funding, Retail TFC, Islamic microfinance funding, and more.
Mobile Money Adoption Increased During the Pandemic by 4 Percent: Karandaaz Survey on COVID-19’s Impact on Financial Behavior
Survey findings on the impact of COVID-19 on financial behavior show that while financial inclusion in Pakistan increased from 21 percent of adults pre-pandemic to 25 percent in late 2020, the change was driven entirely by mobile money adoption.
The new policy aims at financial independence for people with disabilities by improving their access to banking services as well as providing opportunities to contribute as bank employees.
Facebook is expanding its women-empowerment focused initiative, SheMeansBusiness, to bolster the financial inclusion and resiliency of women-led businesses in Pakistan.
The plan is a result of a partnership between two of the country's foremost institutions that are offering Islamic finance and takaful solutions for the benefits of masses across the country.