Every March, south Asian banks commemorate International Women’s Day with photo opportunities, social media hashtags and the odd press release. But Allied Bank, run by chief executive Aizid Razzaq Gill, is that rare institution that can hold the annual events at one of its women-only locations. As of the end of the first quarter, the bank has seven women-only branches.
Pakistan, of course, has one of the lowest ratios of women with bank accounts anywhere.
The strategy with the all-female branches, as Gill explains it, is to champion homegrown talent and empower female entrepreneurs to take advantage of the bank's tailor-made proposition for their personal and business banking needs.
Managed by female staff only, the ABL’s Women Branches are integrated with banking services including guidance services, information about various brands and credit-related counselling.
The branches provide safe, comfortable environments for women: they also provide kids’ play areas and coffee lounges, encouraging women to network, brainstorm and make contacts.
For Gill’s bank, it is a win-win. Pakistan gets a great case study in how entrepreneurship can thrive; ABL is there with financing and other services when networking leads to a new startup.
ABL