BankIslami, a prominent financial institution in Pakistan, has made a groundbreaking move by launching its first all-women-managed branch in Karachi. This initiative is part of the bank’s ongoing commitment to promoting gender inclusivity and empowering women in the workplace. By operating entirely with female staff, this branch is set to serve as a pioneering model of female leadership and equality within Pakistan’s traditionally male-dominated banking sector.
This new branch aligns with BankIslami’s mission of “Saving Humanity from Riba,” a vision that focuses on promoting ethical, inclusive, and responsible financial practices across Pakistan. By opening a fully women-managed branch, the bank is not only reinforcing its values of fairness and integrity but also addressing the gender disparity in Pakistan’s workforce. According to recent statistics, women’s participation in the workforce stands at only 21% in Pakistan, a figure significantly below the global average. BankIslami’s bold step seeks to change this by offering women greater opportunities in a field that has often been unwelcoming.
Rizwan Ata, CEO and President of BankIslami, shared his thoughts on the importance of this initiative. “This is about more than just business,” he said. “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.” Through this effort, BankIslami aims to empower women not only as employees but also as customers, creating a banking environment where women feel comfortable, respected, and represented.
The bank’s commitment to this initiative is further supported by the Asian Development Bank’s Women’s Finance Exchange (gWFX), which is providing gender sensitivity training for the bank’s staff. This training is designed to equip employees with the tools and knowledge necessary to foster an inclusive and supportive environment for all customers. Zulfiqar Lehri, the Group Head of Retail Banking at BankIslami, emphasized the broader impact of the initiative, stating, “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.”
The launch of this all-women-managed branch is a critical step in BankIslami’s larger goal of redefining gender inclusivity in Pakistan’s financial sector. However, it is not just about breaking barriers within the workforce—it is also about supporting women as customers. BankIslami’s Mashal Women Banking program offers tailored financial solutions to women, ensuring they receive the support and services they need to thrive in the financial world.
For instance, the Mashal Asaan Account is designed to simplify the account-opening process for women and offers perks such as free cheque books and discounted debit card fees. Meanwhile, the Mashal Savings Account provides competitive profit rates, along with added benefits like free debit cards and health coverage for critical illnesses. For female entrepreneurs, the Mashal Business Finance product offers low-cost financing, made even more accessible through the SBP-subsidized scheme.
The launch of BankIslami’s all-women branch is not just a symbolic achievement; it represents a significant milestone in the bank’s mission to create a fairer, more inclusive, and ethical financial system. It sends a clear message that gender equality is a vital component of the future of banking in Pakistan. By empowering women both in the workforce and as customers, BankIslami is taking a meaningful step toward building a more inclusive financial landscape for all.