Dr Umar Saif, founding Vice Chancellor ITU, Chairman PITB and Advisor to the CM Punjab, said in an agreement signing ceremony held here on Wednesday between ITU and Karandaaz to initiate three research projects through the Fintech Centre established at ITU.
Pakistan was a growing economy and the gender based financial inclusion would become part of the documented economy, he added.
Dr Umar Saif further said that joining hands with international development partners Bill & Melinda Gates Foundation and Karandaaz for innovation and research in financial technology space was a welcome step. We envisioned to partner with local and international entities for financial inclusion through innovative applications of technology to help Pakistan to reform the digital financial services especially with inclusion of women, he said.
Ali Sarfraz Hussain, CEO KARANDAZ, said that together with Bill & Melinda Gates Foundation (BMGF) and UK's Department of Development we were working with various departments for financial inclusion including National Savings, State Bank of Pakistan and Agriculture Department of Punjab while with special grant first FinTech Centre being established at ITU Punjab.
Jason Lamb Deputy Director Financial Services for the Poor, Bill & Melinda Gates Foundation (BMGF) said that Gates Foundation focused Pakistan among the five largest countries including Indonesia, Algeria, India etc. Digital technology was playing key role in fundamental changes in services with credit availability, he added. Jason further stated that more knowledge and research would trigger greater financial inclusion of women through technology in Pakistan.