The purpose of the award was to highlight the performance of the Microfinance sector and appreciate the work of borrowers who were able to bring a significant change to their lives after receiving microfinance loans, serving as a role models for others in their respective communities. The event was attended by a large number of people from all cross sections of life.
Addressing the event Federal Minister Ahsan Iqbal hailed the contribution of the Microfinance sector and termed it as one of the major source for poverty reduction from the country. He stressed upon the Microfinance institution to widen their network to make it easy for the poor to get benefit from these institutions to improve their lives.
“Pakistan is one of the leading markets in microfinance and is globally ranked third by the Economist Intelligence Unit in terms of the overall business environment for microfinance. Over 900 million dollars have been distributed to over 5.5 million borrowers at easy installments. Referring to gallop survey in Pakistan there is 20% increase in the earnings of our borrowers which tells you the success of our mission.” said Yasir Ishfaq, Group Head Financial Services. He also briefed the gathering that the organization is continuously working to improve beneficiary’s quality of life along with training them to be active members of the community.
Bache Singh from Mithi from Sindh and Huzoor Bukh from Balochistan were the award winners representing Khushhali Microfinance Bank. The award winners acknowledged Khushhali Microfinance Bank’s financial support and Business counseling through which they are now a role model for entrepreneurs all over Pakistan.
Khushhali Microfinance Bank is the largest microfinance Institution in the country with presence across four provinces and Azad Jammu and Kashmir.