Cashless Women Enterprise Market aims to expand financial inclusion and support female-led businesses
Islamabad has inaugurated its first marketplace dedicated exclusively to women entrepreneurs in G-11, marking a significant step toward reducing the gender gap in business participation and improving financial inclusion for women in Pakistan.
The Women Enterprise Market was inaugurated by MNA and Parliamentary Secretary Farah Naz Akbar during an event organized by the Islamabad Women Chamber of Commerce and Industry (IWCCI) in collaboration with the Capital Development Authority (CDA), Metropolitan Corporation Islamabad (MCI), and JazzCash.
The initiative seeks to create commercial opportunities for women in a business landscape where female participation remains considerably lower than that of men. Figures cited during the inauguration highlighted that only 1% of women in Pakistan are entrepreneurs, compared with 21% of men.
First Dedicated Commercial Space for Women Entrepreneurs
Speaking at the event, IWCCI Founder President Samina Fazil described the project as a historic development for the capital.
She said Islamabad had never before offered a dedicated commercial space built specifically around women-led businesses.
Naima Ansari, former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), said marketplaces supporting scalable and sustainable growth for women entrepreneurs were long overdue.
The market is expected to provide women-owned businesses with greater visibility, networking opportunities, and direct access to consumers in a supportive commercial environment.
Pakistan’s First Fully Cashless Women’s Market
A key feature of the Women Enterprise Market is its fully cashless model, introduced at a time when women’s financial inclusion in Pakistan remains below average.
Imtiaz Ali, Senior Deputy Chief Manager at the State Bank of Pakistan (SBP), said the digital payment system would help women entrepreneurs develop practical financial management skills while improving access to formal banking channels.
JazzCash joined the initiative as the technology partner, aligning the project with the SBP’s Financial Inclusion Strategy 2024–2028, which aims to reduce the banking access gender gap from 30% to 25%.
The cashless framework is also intended to encourage women entrepreneurs to transition into the formal economy, where access to banking, credit facilities, and institutional support remains limited.
Limited Access to Financing remains a Challenge
The launch comes amid continuing challenges for women-owned businesses in Pakistan, particularly in securing financing and institutional support.
According to the 2025 WECON Policy Report, only 3.2% of SME loans in 2022 were allocated to women-led firms, while 91% of women remained reluctant to use institutional financing channels.
SBP data further shows that women own only 8% of Pakistan’s more than five million small and medium-sized enterprises.
Farooq Mirza, President of 4th Pillar, said initiatives such as the Women Enterprise Market could help women-owned businesses evolve into established brands and eventually enter export markets.
Samina Fazil said the marketplace could also create new income opportunities in a country where female labor force participation continues to remain low.
Government Pledges Continued Support
Addressing the inauguration ceremony, Farah Naz Akbar emphasized that the government was committed to integrating women-led businesses into the formal economy.
“Ensuring women have equal access to the legal, financial, and institutional support is necessary for national development,” she said.
She also praised the initiative and pledged continued cooperation between the government and the Islamabad Women Chamber of Commerce and Industry to strengthen opportunities for women entrepreneurs across the country.