FINCA enters into strategic partnership with Karandaaz Pakistan

LAHORE (PR): FINCA, one of the leading micro-finance banks, has announced a strategic partnership with Karandaaz Pakistan, a non-profit finance generating organisation for small businesses and individual’s financial inclusion. The first of its kind initiative between Karandaaz and a DFSP (Digital Financial Services Provider) – SimSim, will enable a new way of digital financial services in Pakistan.

The year-long partnership is aimed at developing and rolling out digital financial services targeting a specific market group of economically low income active women engaged in some form of trade such as cottage industry, factory work etc. This will not only encourage them to adopt advanced technology while availing a digital marketplace/e-commerce but would also promote local goods/services through SimSim mobile account and integrated platforms.

The programme is being launched through a grant from Karandaaz Pakistan for developing specific use cases and products to encourage and promote financial inclusion for women in marginalized economic segments. It also aims to encourage financial inclusion for individuals by employing technology enabled digital solutions and access to finance for micro, small and medium-sized businesses through a commercially directed investment platform. Karandaaz has financial and institutional support from Bill & Melinda Gates Foundation and the United Kingdom Department for International Development (DFID).

FINCA has always been supporting women and small and medium-sized enterprises. This exploratory grant will further contribute towards collection and analyses of findings directly from the field, to ascertain a successful business model for repeat women customers in order to enable a comprehensive and deeper financial inclusion of women, which determines the dollar value for an economically active woman through the defined protocols of this project.

Contribution of Punjab Colleges in education sector acknowledged

LHORE (PR): An amount of Rs 191 million was distributed among the position holder students of the Secondary School Certificate and Intermediate Examinations 2017 along with their teachers in a ceremony held at Aiwan-e-Iqbal the other day.

A large number of position holders, their parents and teachers attended the event. Maximum number of position holders at Intermediate level belonged to Punjab Group of Colleges. Higher Education Minister congratulated them specifically acknowledging the contribution of Punjab Colleges in the education sector. Provincial Minister for Higher Education Syed Ali Raza Gillani, on behalf of Chief Minister Shehbaz Sharif, was the chief guest of the event. Provincial ministers, Malik Nadeem Kamran, Zakia Shahnawaz, Mehar Ejaz, Adviser to Punjab CM, Rana Muhammad Arshad and Higher Education secretary Nabeel Awan were also present. 445 students who got top three positions in the Secondary School Certificate and Intermediate examinations were awarded cash prizes worth Rs 4 lac (0.4m), 3 lac (0.3m) and 2 lac (0.2m), whereas the teachers were awarded Rs 2 lac (0.2m), Rs 1.5 lac and Rs 1 lac respectively.