The role of Khushhali Bank in reducing poverty by empowering women of Golra Sharif through microfinance

Abstract

Microfinance is an emerging concept in Pakistan. It is in its nascent stage and requires an enormous effort to make it successful. The Microfinance concept emerged in 1983 from Bangladesh where Dr. Muhammad Yunus laid its rudiments. Since then it has benefited a number of destitute and poor people. It is the easiest source of financing for the poor as it requires no collateral and ensures easy installation. This present research tries to bring forth the role of Khushhali Bank’s microfinance facilities in empowering women socially and economically and alongside helping them to combat poverty in Pakistan’s region of Golra Sharif. There are quite a number of financial institutions operating in Pakistan providing micro loans to the poor in helping them combat poverty as well as improving their living conditions. The research has taken poverty and women empowerment as the key variables and has developed a hypothesis pertaining to them. Since the poor segment of society, especially women, faces difficulty in securing loans, the microfinance tool focuses on providing financial assistance to women, inspiring them to make use of their skills and make improvements in their and their family’s lifestyle.