In a significant move toward promoting gender inclusivity in Pakistan’s banking sector, BankIslami has unveiled its first fully women-managed branch in Karachi. This groundbreaking initiative is aimed at empowering women by offering them leadership roles and creating a more inclusive environment for both female employees and customers in the financial industry. The branch is managed entirely by women, from the front desk to senior management positions, reflecting the bank’s commitment to diversity and equal opportunity.
The launch of this all-women-managed branch aligns with BankIslami’s broader mission of promoting ethical and inclusive financial practices, encapsulated in its vision of “Saving Humanity from Riba.” The bank’s emphasis on ethical banking extends beyond profit margins, with a strong focus on fostering inclusivity and creating opportunities for women in a sector that has historically seen limited female participation.
Pakistan’s financial sector, like many industries, has long been male-dominated. Women’s representation in the workforce stands at just 21%, a statistic far below the global average. This gender disparity is particularly prominent in the banking sector, where women have often found it challenging to access leadership roles or navigate the traditionally conservative and hierarchical structures of financial institutions. Through this innovative initiative, BankIslami seeks to break these barriers, offering women the chance to thrive as both professionals and customers in a space that has not always been welcoming to them.
Rizwan Ata, CEO and President of BankIslami, underscored the significance of this initiative by stating, “This is about more than just business. It’s about creating a future where women are fully represented in the workforce and have the chance to lead and thrive. Inclusivity isn’t optional, it is essential.” Ata’s statement reflects the bank’s long-term commitment to gender equality, emphasizing that this initiative is not only a step toward diversity but also a cultural shift in Pakistan’s corporate landscape.
Supporting this initiative is the Asian Development Bank’s Women’s Finance Exchange (gWFX), which is collaborating with BankIslami to provide gender sensitivity training for staff. This partnership ensures that the women working in the branch are equipped with the necessary skills and understanding to navigate the financial sector with confidence while fostering an inclusive environment for all customers.
Zulfiqar Lehri, Group Head of Retail Banking at BankIslami, highlighted the dual impact of this initiative: “With this initiative, we are not only empowering our female employees by providing them with job opportunities but also offering our customers a truly inclusive banking experience. We believe this step will pave the way for greater gender diversity and set a new industry benchmark.” Lehri’s remarks reflect the bank’s dedication to creating a new standard for gender representation in Pakistan’s financial institutions.
The establishment of an all-women-managed branch is more than just a symbolic gesture; it represents a tangible shift in the banking sector’s approach to gender equality. By creating leadership roles for women and offering a more inclusive environment for customers, BankIslami is setting a new precedent for what a progressive, inclusive financial institution can look like. This initiative could serve as a model for other financial institutions in Pakistan and beyond, demonstrating that gender inclusivity and business success can go hand in hand.
As the banking sector in Pakistan continues to evolve, BankIslami’s move towards gender inclusivity reflects the growing recognition of the need to break down barriers and provide equal opportunities for women. This initiative marks a significant step forward in the journey toward a more diverse and representative workforce in Pakistan’s financial industry.