Islamabad, 8th March 2010: Today marks more than 100 years of International Women’s Day celebrations observed across the globe in recognition of the economic, political and social empowerment of women.

International Women’s Day (IWD) holds significance and is symbolic of women empowerment, female solidarity and equality. This day is celebrated to commemorate women working in the formal and informal sectors despite the numerous cultural and socio-economic challenges encountered in their everyday lives and the courage and perseverance in surmounting these obstacles with determination. It is rooted in the centuries old struggle of women for their rights including the right to participate in society on an equal footing and equal opportunity within the economic domain.

Ghalib Nishtar, President, Khushhalibank whilst acknowledging the entrepreneurial abilities of women said “International Women’s Day has provided us with an opportunity to recognize and celebrate the cause of women empowerment, particularly in the context of our country where women comprise nearly half the population. Our own experience within the microfinance sector in Pakistan, which is consistent with  Global  experience has shown that women entrepreneurs demonstrate greater responsibility in terms of enterprise development. ”

The Asian Development Bank Institute based in Tokyo, Japan, conducted a study on the need for making microfinance Institutions sustainable in order to deliver services to the poor. It chose Khushhalibank for analyzing the impact of microfinance Institutions on poverty reduction. Among other findings the study revealed that access to and participation in the Khushhalibank program increased empowerment of women – the degree to which women’s decisions are taken into account in areas such as child-rearing, participation in community or political activities, and financial matters. The bank’s lending to female clients also enhanced their level of confidence and enabled them to contribute positively to the wellbeing of their families.

Year on year IWD is increasing in status and this year it is hoped that Pakistanis will dedicate themselves to the promotion of gender equality particularly greater opportunities within the economic spheres of the economy without which a sustainable growth with equitable distribution of resources cannot be achieved. While much has been accomplished over the years but a lot more needs to be done in order to put into place legal foundations that urge communities to remember that it is the responsibility of all of us to defend the democratic and secular right to live in dignity, freedom and gender equality.

Khushhalibank (KB) is rated as Pakistan’s largest and fastest growing retail microfinance bank operating under the Central Bank regulations. Established in 2000, the Bank is funded by leading international financial institutions as a partnership between public, multinational and private sector commercial financial institutions. KB’s mission is to market financial services tailored for the low income segment in line with international microfinance practices through an extended network operating across the country’s rural and urban divides.