Karandaaz Pakistan and Walee Financial Services have joined forces to launch a groundbreaking Shariah-compliant digital financing solution for women entrepreneurs in Pakistan. The new initiative, named Khudmukhtar Khatoon, marks a major milestone in advancing women’s economic inclusion by providing them with asset-based financing designed specifically to meet their business needs.
The strategic partnership between the two organizations was formalized at a signing ceremony attended by senior leadership from both sides. Khudmukhtar Khatoon represents a significant shift in how financial institutions and fintech companies are approaching women-led businesses, focusing on enabling sustainable growth rather than short-term financial relief.
Unlike conventional loan models, the program offers asset financing instead of direct cash disbursements. This means that women entrepreneurs will be able to access essential business assets to launch, operate, or expand their ventures without the burden of traditional loan structures. By linking financing directly to productive assets, the model ensures that funds are utilized effectively, resulting in measurable and long-term business growth.
The program addresses a critical gap in Pakistan’s financial ecosystem: limited access to growth-oriented financing for women-led businesses. Despite their significant contribution to the economy, women entrepreneurs often face barriers such as lack of collateral, limited credit history, and insufficient documentation. This initiative seeks to eliminate those barriers through a tier-based framework that accommodates different levels of business maturity.
The framework categorizes entrepreneurs into four tiers, depending on documentation, financial history, and business experience. This allows both home-based and established women-led businesses to participate, ensuring inclusivity and equitable access. Each tier corresponds to tailored asset financing solutions designed to match the unique needs of women at different stages of business growth.
Initially, the project will launch as a Minimum Viable Product (MVP), focusing on women-dominated sectors such as apparel and tailoring, food services, and beauty services. These industries were selected for their strong potential for impact and scalability. The MVP phase will help assess demand, operational efficiency, and product-market fit before the initiative is scaled nationwide.
Waqas ul Hasan, CEO of Karandaaz Pakistan, emphasized the importance of the initiative in aligning with national development goals and international priorities for financial inclusion. He stated that Khudmukhtar Khatoon is a pioneering model that combines economic opportunity with cultural values, setting a strong precedent for inclusive financing in the country.
Noshad Minhas, CEO and Co-Founder of Walee Financial Services, described the program as a transformative step toward dignified and sustainable empowerment for women entrepreneurs. He highlighted the model’s ability to redefine how women in Pakistan access and utilize financial resources.
Sharjeel Murtaza, Chief Digital Officer at Karandaaz Pakistan, underlined the need for financial inclusion initiatives that go beyond access and create meaningful opportunities for women to thrive as business leaders. He noted that Khudmukhtar Khatoon reflects a clear mission to bridge systemic financing gaps for women.
The pilot phase of Khudmukhtar Khatoon will serve as a proof of concept for a first-of-its-kind, Shariah-compliant, women-focused asset financing model in Pakistan. It is expected to generate valuable insights into financial product design, operational performance, and women’s evolving business needs.
By merging digital innovation, Islamic finance principles, and gender inclusion, this initiative has the potential to redefine the entrepreneurial landscape for women in Pakistan. It also supports the national vision of building a more inclusive and sustainable economy where women play a central role in business growth and economic development.
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