ISLAMABAD: The micro-credit outreach domain in the country witnessed 22% growth during 2016, continuing on previous years’ positive trend.
Successive governments, recognising the need to protect vulnerable segments of the society, have promoted private sector’s involvement in micro-financing to enhance financial inclusion of the masses.
During 2016, Gross Loan Portfolio registered a 47% growth, micro-savers increased by 65% and value of such savings increased by 88%. This growth is attributable to increase in m-wallet accounts and taping higher ticket size.
Micro-insurance also recorded an increase with sums insured posting a hefty growth of 85%, according to sources in the finance division. This segment is primarily dominated by credit life and health insurance.