U Microfinance Bank Limited (U Bank) has taken a significant step toward empowering women entrepreneurs across the country by partnering with CARE Pakistan and Mastercard. The partnership, formalized through the signing of a MoU in Islamabad, is set to create tailored financial products for women-led businesses, addressing barriers to financial inclusion and fostering sustainable growth in the micro, small, and medium enterprise (MSME) sector.
The MoU was signed by Mr. Mohamed Essa Al Taheri, President & CEO of U Bank; Mr. Adil Sheraz, Country Director of CARE Pakistan; and Mr. Arslan Khan, Country Representative of Mastercard. The ceremony was attended by senior management and staff from all three organizations, marking a collaborative milestone under the Strive Women Program, an initiative aimed at advancing Women’s Economic Justice (WEJ).
The partnership is designed to bridge the financial inclusion gap for women entrepreneurs through innovative, women-centered financial products and services. By focusing on the unique challenges faced by women-led MSMEs, the collaboration seeks to enable sustainable growth, enrich communities, and contribute to a more equitable economic ecosystem.
During the ceremony, Adil Sheraz, Country Director of CARE Pakistan, stressed the importance of strategic alliances in tackling the challenges faced by women entrepreneurs.
“Partnerships like this are crucial to breaking down the barriers that hinder women entrepreneurs. Through collective efforts, we can ensure that these women have the tools and resources to thrive in a competitive environment.”
Arslan Khan, Country Representative of Mastercard, echoed these sentiments, reaffirming Mastercard’s commitment to promoting gender inclusion.
“Our partnership with CARE Pakistan and U Bank is a testament to Mastercard’s dedication to empowering women and fostering an inclusive economic ecosystem. The Strive Women Program is an integral part of our mission to create equitable opportunities for all.”
U Bank’s President & CEO, Mohamed Essa Al Taheri, shared his vision for the initiative, emphasizing the bank’s commitment to fostering innovation and growth. “At U Bank, we aim to create an enabling environment for women entrepreneurs to succeed. This collaboration signifies a step forward in our efforts to drive meaningful societal contributions and support the ambitions of women across Pakistan.”
The MoU signifies a shared resolve by U Bank, CARE Pakistan, and Mastercard to tackle the unique challenges faced by women entrepreneurs. Together, the organizations aim to offer innovative financial solutions, provide mentorship and resources, and promote financial inclusion in a way that advances the agenda of Women’s Economic Justice.
This landmark collaboration is expected to have far-reaching implications for women-led businesses in Pakistan, offering them not only access to financial tools but also the opportunity to scale their ventures, improve livelihoods, and contribute to the national economy. Through the combined efforts of these three organizations, the partnership aims to inspire a new era of economic participation and empowerment for women entrepreneurs.
