by: Farooq Mirza
Muzaffarabad – The Governing Body of the Women Chamber of Commerce and Industry Azad Kashmir (WCCI AJK), led by President Dr. Sidra Azad, recently engaged in an in-depth discussion with Mr. Shahid Mir, President of the Bank of Azad Jammu and Kashmir (AJK Bank), at the bank’s headquarters.
The meeting focused on addressing the key challenges faced by women business owners in Azad Kashmir, including limited access to credit, strict collateral demands, complex documentation, and procedural hurdles in banking services. The delegation, which included members Maria Gillani, Khizra Manzoor, Tayyaba Bukhari, Umber Adil, and Secretary Raja Zahid Khan, stressed the urgent need for a specialized financing window for women, simplified loan procedures, and priority lending schemes to help women achieve greater financial independence.
Discussions also covered the ongoing Prime Minister Youth Loan Scheme and initiatives by the Small Industries Corporation AJK. The WCCI AJK proposed easing collateral requirements for loans exceeding PKR 500,000 and introducing alternative guarantee options to enable more women to benefit from these programs, particularly for business expansion and new startups.
Mr. Shahid Mir responded positively, assuring the group that their suggestions would be forwarded to the AJK Government and the bank’s Board of Directors for serious consideration and implementation of practical solutions. He highlighted AJK Bank’s ongoing commitment to women’s economic progress and mentioned that tailored support packages for female entrepreneurs are under active review.
The bank president also updated the delegation on AJK Bank’s efforts to secure scheduled bank status from the State Bank of Pakistan. This includes modernizing banking software and establishing an exchange company, which will enhance the bank’s service capacity, transparency, and outreach once achieved—bringing substantial advantages to the local business community.
Dr. Sidra Azad emphasized the importance of better information sharing and guidance from the bank. She suggested organizing joint awareness seminars, financial literacy programs, and counseling workshops to help women entrepreneurs fully utilize AJK Bank’s offerings and integrate more effectively into the formal banking system.
Both sides concluded the session by committing to stronger future collaboration. This partnership aims to foster women-led businesses, generate employment, and contribute to the overall economic growth of Azad Kashmir.
The engagement is seen as a meaningful advancement in promoting women’s economic empowerment and bridging gaps between financial institutions and female entrepreneurs in the region.
