Some people cross your path and change your whole direction of how you plan your life.

That’s absolutely how I felt after listening to Muddassar Aqil’s insights on Access to Finance in Pakistan.

Muddassar Aqil, CEO FINCA Microfinance Bank Limited, with a clarity in his words, the ability to inculcate positive thinking and inspire financial independence, provides just enough proof to the fact that why a CEO is a — “CEO”


Now banking can be a source of financial management of assets but Microfinancing takes it to a whole new level. It sure as miraculously has shown that enabling the poor to empower ourselves economically can be a great business.

More than 85% people in Pakistan have no record of banking practice in Pakistan. Because when you look at the evolution of banking, in the 19th century it was a merely a money handling formula of the advantaged. 20th century gave way to banking to exist in the commodity market as a trade. But it served the interests of rich and overlooked the masses. It was for the privileged who could afford the luxury of financial security.

Which is why people are still shy-er of exercising the banking facility because they don’t feel if they belong to the class who entertain protection of assets and multiplication of resources.

But Mr. Muddassar cheerfully asks:

  • Don’t we all need to save money?
  • Don’t we all ever need to borrow money?
  • Don’t we ever think of investing money?
  • On top of it, have we never wished to protect our stakes of risks? Have we never tried to protect our assets against a potential loss?

It was no surprise that no one could deny having a profound need of financial management all day every day. Then why are we so blinded by our assumption that banking is a luxury and not a matter of need. Why are we so blinded by our fear of change?

Given wonderful stats of 98%  loan return rate every year and impending growth in the field around the globe, Micro financing has shown how you can reach out to people that conventional banking cannot. It has demonstrated that is a doable proposition and the moment you say “Micro finance” everyone wants to help you. It ensures just enough that poverty is absolutely – UN-NECESSARY!

Its time we can leave behind our assumptions and a belief system that stops us from adapting to new conventions of success. It’s time we embrace economic independence and reform our wealth practices, and just like Henry Ford once said,

People of our nation do not understand our banking and monetary system, but if they did I believe there would a revolution before tomorrow morning”

Blogger: Ms. Yasmeen Butt, Manager Career Counseling & Placement Center