Karandaaz Pakistan, in collaboration with the National Institute of Banking and Finance (NIBAF) and Gilgit Baltistan Rural Support Programme (GBRSP), successfully conducted a comprehensive series of financial literacy training sessions across five districts in Gilgit Baltistan. These impactful training sessions were held in Nagar, Ganchay, Kharmang, Shigar, and Gilgit, educating a total of 2000 public school students, with an encouraging participation of 52% girls. The initiative aimed to educate the youth on key financial concepts for financial well-being.
The comprehensive training program spanning a week, was held across twelve public schools in the region. A total of 27 local government teachers were selected for Training of the Trainers (ToT), enabling them to deliver the training to the students under the supervision of NIBAF. The initiative aimed to enhance the skills of local teachers, making them a valuable asset for the region’s educational ecosystem. To support the initiative, 4,000 books containing carefully curated content on financial literacy for the age group of 13th to 17th years were dispatched by NIBAF to the participating schools, further enriching the educational experience of the students.
Highlighting the significance of the program, Mr Waqas ul Hasan, CEO Karandaaz Pakistan, remarked, “We believe that financial literacy and entrepreneurship education are vital for the holistic development of our youth. This successful intervention underscores Karandaaz Pakistan’s commitment to empowering the youth and fostering financial inclusion in Gilgit Baltistan. The organization remains dedicated to implementing sustainable initiatives that equip individuals with the necessary tools for a financially secure future.”
Chief Secretary Gilgit Baltistan said, “Karandaaz Pakistan’s financial literacy training program in collaboration with NIBAF and GBRSP is a commendable effort to equip the youth of Gilgit Baltistan with essential financial management skills. This initiative will empower our students and contribute towards a financially inclusive and prosperous future for our region.”
Mr Sharjeel Murtaza, Director Digital Financial Services at Karandaaz Pakistan commented, “An enabled DFS ecosystem can only be as good as its adoption. The lack of financial literacy has proven to be a primary barrier to financial inclusion and it is fully recognized that financial inclusion can only be achieved when the users of financial services not only have access to a range of financial services but are able to use them regularly. Therefore, alongside enablement and market systems development, we at Karandaaz have now honed in on the critical aspect of adoption and increasing financial literacy is one of the top priorities.”
Karandaaz Pakistan also signed an MoU with NIBAF for increasing financial literacy amongst the youth of Pakistan. This financial literacy training program is the first of many more, aiming to achieve several outcomes. It seeks to empower students with essential financial management skills, develop entrepreneurial skills and foster an environment of entrepreneurship and economic growth. Additionally, it aims to increase awareness of financial services such as credit, saving and budgeting, digital payments, and the benefits of bank accounts, while paving the way for future financial literacy initiatives in Gilgit Baltistan, ensuring sustainability and continuity.