"The importance of the FWBL model goes far beyond that of the Grameen Bank which is for landless peasants. The government has recently realised the importance of micro credit and loans to the SMEs in poverty alleviation. We have been doing this business for 14 years. Today, this is among our biggest advantages.

The published collective outreach of 13 NGOs and various rural support programmes is just 67,000 borrowers and 100 million rupees. On the other hand, we've disbursed 7.1 billion rupees to over 26,000 borrowers. We know how 10,000 rupees can change the lives of people and we know of the salutary trickle-down impact it has on the economy. We've managed to create employment for over a million people through these disbursements.

"Most commercial banks are wary of entering into micro credit because micro credit is generally thought to be inherently risky. However, our stunning recovery rate of 95 per cent proves we have the capability and expertise required to do this business well. Further, our model caters to women at all financial levels. We're very comfortable lending to women. Since May 2001, we've made fresh disbursements worth 2.08 billion rupees and only 1.9 million is overdue (0.09%).

"No country can dream of freedom from poverty or an economic revival if approximately 52 per cent of its population does not play its role. The economic empowerment of women is going to have significant socio-economic ramifications for both society as well as the economy.

By providing women with the financial and non-financial support they need to emerge as key players, we are actually laying the foundation of a multifaceted revolution. Even the US, which allocates 1.3 trillion dollars to the development of women, cannot boast a specialised financial institution disbursing credit to women. Utilised properly, the FWBL model has the potential of transforming the face of Pakistan."

From left to right: Shaukat Aziz, Finance Minister; Zarine Aziz, President FWBL, S. Ali Raza, President NBP, Zakir Mehmood, President HBL at the inauguration of FWBL new head office.		Founder members of FWBL: From L/R (sitting) Siddiqueh Khalil, Shafqat Sultana, Zarine Aziz (C), Safia Hasan, Nadira Parveen Agha. Standing (L/R) Charmaine Hidayatullah and Shawana Yamin.