The Securities and Exchange Commission of Pakistan (SECP) has won the Outstanding Policy Award for its capstone presentation on women’s inclusive insurance at the Leadership Development Program for Regulators, conducted by Women’s World Banking at Saïd Business School, University of Oxford, UK.
SECP earns global recognition for women’s inclusive insurance policy
ISLAMABAD, Sep 01 (APP):The Securities and Exchange Commission of Pakistan (SECP) has won the Outstanding Policy Award for its capstone presentation on women’s inclusive insurance at the Leadership Development Program for Regulators, conducted by Women’s World Banking at Saïd Business School, University of Oxford, UK.
According to a press release issued by the Commission on Tuesday, the SECP team secured first position among 26 participating pairs from 16 jurisdictions, including India, Indonesia, Egypt, Nigeria, Morocco and Armenia. SECP was represented by Director Insurance Muhammad Arshad and Assistant Director Insurance Sofia B. Rabnawaz.
The award recognizes the clarity, innovation, feasibility and potential impact of SECP’s proposed policy, “Empowering Women Through Inclusive Insurance: Building Financial Resilience for a Stronger Pakistan,” in advancing women’s financial inclusion.
The proposed policy aims to reduce women’s financial vulnerability by developing an inclusive, accessible and gender-responsive insurance market through appropriate products, digitalization, effective distribution channels and stronger consumer protection.
Women make up nearly half of Pakistan’s population, around 117 million, but remain significantly underserved by formal insurance. The proposed policy aims to address this gap through women centric products and inclusive distribution channels, including a requirement for insurers to offer at least two products specifically designed for women.
In the short term, the policy is expected to benefit around 1.5 million existing women life insurance policyholders, besides women covered through group life, health, accident and microinsurance schemes. The draft policy is currently under review and will be issued for public consultation before implementation.
SECP Chairman Dr. Kabir Ahmed Sidhu said the international recognition validates SECP’s policy direction towards building a more inclusive insurance market. “Our policies are focused on unlocking Pakistan’s significant insurance potential, particularly among women, through targeted products and digital distribution, while ensuring stronger consumer protection,” he said.
