Achieving Financial Security through Homeownership

In a significant move towards empowering women and promoting financial independence in Pakistan, the House Building Finance Company (HBFC) has been at the forefront with its innovative “Ghar for Her” service. This initiative is designed to guide women towards achieving financial security through homeownership, aligning with the State Bank of Pakistan’s Banking on Equality Policy aimed at reducing the gender gap in financial inclusion.

Nadia, a 36-year-old professional in the telecom sector, exemplifies the success of this initiative. With a home loan from HBFC, she purchased an apartment in Malir Cantt, Karachi, in 2022. By renting out her property, Nadia covers her monthly installments, showcasing the potential of homeownership in building wealth and securing financial independence for women in Pakistan.

Despite women constituting half of Pakistan’s population, their participation in the workforce is notably low, with a World Bank report indicating a mere 20% participation rate. This is further exacerbated by barriers such as inadequate education, low confidence, mobility challenges, and entrenched social norms. Financial inclusion is critical in this context, offering a pathway to financial independence for women by providing access to essential financial products and services.

HBFC’s “Ghar for Her” service is a testament to the company’s commitment to women’s financial inclusion. Recognizing the unique challenges women face in planning their homeownership journeys, the service offers dedicated support and financial advice, ensuring women can navigate the home financing process with ease and confidence.

HBFC’s efforts are a beacon of hope for many women across Pakistan, aiming to foster economic stability and growth. With a network spanning 48 accessible locations nationwide, HBFC is dedicated to transforming the landscape of financial inclusion and empowering women to achieve financial independence through homeownership.

As we celebrate International Women’s Day, stories like Nadia’s inspire and highlight the strength and determination of Pakistani women to secure their futures. HBFC remains committed to supporting this journey, paving the way for a more inclusive and equitable financial ecosystem in Pakistan.