Musarrat Ibrar’s narrative is a ray of light in the busy streets of New Chakra, Rawalpindi, where the exorbitant cost of living puts a gloomy shadow over people’s hopes and lives. When her husband, a government official, struggled to support the family on a single wage, Musarrat and her family found themselves in a difficult situation. She decided to take action because she couldn’t watch helplessly. With her husband’s steadfast backing, Musarrat took the risk of starting a cosmetics and manyari business in 2019. She sold her gold and used her hard-earned money to generate an initial capital of Rs 100,000.
Although her company had potential, getting access to sufficient funding was the main barrier to its expansion. It was at this pivotal moment that Musarrat came onto Khushhali Microfinance Bank Limited (KMBL), a moniker that would come to represent her path to financial success.
Musarrat was initially dubious about getting a loan from KMBL because of her unusual business structure and absence of tax returns, but her doubts were allayed when she went to a KMBL branch. The bank employees, inspired by her potential, understood her business beneath its surface. Within a week of a thorough interview regarding her business idea, organization, and goals, the bank approved her loans.
She was able to stock her shop for Eid thanks to this prompt support, which resulted in significant profits throughout the holiday. Because of her commitment, Musarrat was able to pay back her first loan early, which gave her the confidence to take out a second one. This allowed her business to expand and her family’s financial situation to improve.
Musarrat’s experience serves as an example of the revolutionary potential of microfinance banking, enabling her and other micro-entrepreneurs to launch or grow their enterprises. The dedication of Khushhali Bank to business owners demonstrates the significant influence that microfinance institutions have when they invest in people’s aspirations. Every tiny firm usually has a bank behind it, believing in the promise of the dreamer.
