Bank Alfalah, a leading commercial bank in Pakistan, in collaboration with the Centre for Excellence in Journalism (CEJ) at the Institute of Business Administration (IBA) Karachi, has announced a scholarship program aimed at enhancing journalism education and promoting financial literacy. The initiative includes scholarships for the Master of Science in Journalism (MSJ) degree at IBA and capacity-building workshops for online content creators.
Under a recently signed Memorandum of Agreement (MOA), Bank Alfalah will fund scholarships for five students enrolled in the MSJ program for the academic year 2024-25. Additionally, the bank will support workshops designed for twelve content creators, focusing on creating awareness around financial literacy.
The initiative seeks to nurture a new generation of journalists skilled in investigating and reporting on financial matters, while also empowering individuals with the knowledge to better understand and manage financial issues. Dr. Asma Hyder, Professor and Dean of the School of Economics and Social Sciences at IBA, emphasized the importance of journalism in fostering an informed society and strengthening democracy. She highlighted that the MSJ program at IBA equips students with essential skills in reporting, investigation, fact-checking, technology, and ethics, under the guidance of renowned local and international journalists.
Recognizing the need for specialized knowledge in Pakistan’s financial sector, the program aims to ensure that journalists are better equipped to report accurately and responsibly on financial topics. By doing so, the initiative hopes to enhance transparency, promote financial literacy, and hold stakeholders accountable, ultimately contributing to a more robust financial ecosystem in Pakistan.
The program also includes training sessions for content creators, who will be taught how to develop engaging content that educates the public on financial literacy. These creators will then lead public awareness campaigns, promoting responsible financial practices and helping to increase financial inclusion in Pakistan.
Madiha Javed Qureshi, Head of Corporate Communication at Bank Alfalah, stated that this collaboration aligns with the bank’s commitment to nurturing a skilled and informed workforce, while also contributing to the financial well-being of the nation. She noted that by providing scholarships and empowering content creators, the partnership aims to improve financial reporting and equip people with the knowledge to make informed financial decisions.
This joint effort between Bank Alfalah and CEJ-IBA is expected to significantly impact journalism education, enhance financial literacy, and foster broader public awareness, contributing to the overall economic growth and stability of Pakistan.