In a partnership aimed at expanding non-banking financial inclusion for women, the Financial Regulatory Authority (FRA) and the Economic and Social Empowerment Program for Women, funded by the US Agency for International Development (USAID), signed a Memorandum of Understanding. The program, implemented by Pathfinder, will enhance cooperation between the two parties to work towards financial inclusion for women in the non-banking financial sector.
The objective of the agreement is to equip and empower women to benefit from non-banking financial services, improving their living standards and facilitating proper financial planning. The FRA will select a representative from its senior management to participate in the National Advisory Committee for the Economic and Social Empowerment Program for Women.
Key elements:
- The FRA and the Economic and Social Empowerment Program for Women signed an agreement to expand non-banking financial inclusion for women
- The aim of the agreement is to equip and empower women to benefit from non-banking financial services and improve their living standards
- The FRA will select a representative to participate in the National Advisory Committee for the program and will facilitate communication with non-banking financial service providers
- The agreement also includes joint training programs, awareness campaigns, and efforts to encourage women’s representation in leadership positions
