MUZAFFARABAD (Kashmir English): Bank of Azad Jammu and Kashmir (AJK Bank) has decided to strengthen women financially by introducing special packages for businesswomen.
The governing body of the Women Chamber of Commerce and Industry Azad Kashmir, led by President Dr. Sidra Azad, held a detailed meeting with President Bank of Azad Jammu and Kashmir, Shahid Mir.
The purpose of the meeting was to review the financial and administrative issues faced by women entrepreneurs in Azad Kashmir and to formulate a joint strategy for their resolution.
The delegation included governing body members Maria Gillani, Khizra Manzar, Tayyaba Bukhari, Amber Adil, and Women Chamber Secretary Raja Zahid Khan.
During the meeting, the Women Chamber delegation thoroughly briefed the AJK Bank President on the problems faced by businesswomen in Azad Kashmir, particularly regarding access to business credit, mortgage conditions, documentary requirements, and obstacles in the banking process.
The delegation emphasized that the provision of special financing windows for women, preferential loan schemes, and business loans on easy terms is a critical need of the hour to enable women to become economically stable.
Detailed discussions also took place regarding the Small Industries Corporation Azad Kashmir and the recent Prime Minister Youth Loan Scheme.
Practical difficulties in obtaining loans for the expansion of old businesses and for new startups, and various options for their resolution, were also considered.
The governing body of the Women Chamber unanimously proposed that for loans exceeding Rs 500,000, mortgage conditions for women should be made easier and subject to alternative collateral mechanisms, otherwise women will not be able to fully benefit from this scheme.
President AJK Bank
AJK Bank President Shahid Mir assured the delegation that these proposals would be presented to the Government of Azad Kashmir and the bank’s Board of Directors to find practical and sustainable solutions for women.
He stated that AJK Bank is making every possible effort for the economic development of women in Azad Kashmir, and the introduction of special packages for women entrepreneurs in the future is also being considered.
The AJK Bank President further informed that the bank is currently completing the necessary requirements to obtain scheduled bank status from the State Bank of Pakistan, which includes measures such as upgrading modern banking software and establishing an exchange company.
He said that after obtaining scheduled bank status, AJK Bank’s capacity, transparency, and scope of financial services would further expand, which would significantly benefit the business community of Azad Kashmir.
Dr. Sidra Azad, President Women Chamber, stated on this occasion that businesswomen in Azad Kashmir can fully benefit from AJK Bank’s various products and schemes, provided that an effective system for information dissemination and proper guidance is established.
She suggested organising joint awareness seminars, financial literacy workshops, and business counseling sessions for women so that they can fully connect with the banking system.
At the end of the meeting, both institutions agreed that a mutual support mechanism would be established in the future through collaborative efforts, which would promote women-led business activities in Azad Kashmir, create new employment opportunities, and strengthen the local economy.
This development between the Women Chamber of Commerce and Industry Azad Kashmir and AJK Bank is being considered a positive and practical step towards women’s economic empowerment.
