Bank Alfalah, a leading commercial Bank of Pakistan and The Centre for Excellence in Journalism (CEJ) at the Institute of Business Administration (IBA) Karachi, announced scholarships for journalism degree program and capacity building of online content creators in financial literacy. Through a Memorandum of Agreement (MOA), Bank Alfalah will provide funding for scholarships to five students pursuing the Master of Science in Journalism (MSJ) degree at IBA for the year 2024-25 and workshops for twelve content creators on creating awareness about financial literacy.
The program aims to develop a new generation of journalists equipped with the skills to investigate and report on financial issues while empowering individuals.
Dr. Asma Hyder, Professor and Dean, School of Economics and Social Sciences, IBA said, “Journalism is important for an informed society and for the strengthening of democracy. The masters in journalism at the School of Economics and Social Sciences, at IBA Karachi, equip the students with best practices in reporting, investigation, fact-checking, technology and ethics. We are proud of our competent faculty, visiting world-renowned local and international journalists, who guide students in producing well-rounded, accurate, and engaging content that informs the public and supports a vibrant, democratic society. Our alumni are successfully positioned in their careers, upholding IBA’s high standards in the professional world.”
Capacity building is crucial for journalists in Pakistan’s financial sector to ensure accurate, responsible, and impactful reporting. With the increasing complexity of financial instruments and markets, journalists need specialised knowledge to effectively understand and convey financial information. The program will sponsor five students pursuing the Master of Science in Journalism (MSJ) degree at IBA, providing them with financial assistance to complete their studies. By enhancing their skills, journalists can contribute to financial literacy, promote transparency, and hold stakeholders accountable, ultimately fostering a healthier financial ecosystem in Pakistan.
Additionally, CEJ-IBA will organise training sessions for twelve content creators to equip them with the skills to create engaging content about financial literacy. These trained content creators will then develop public awareness campaigns to educate the public about financial literacy and promote responsible financial practices.
“We extend our sincere thanks to Bank Alfalah for their generous financial contribution,” said Taimoor Ahmed, Acting Head, CEJ. “Their support is crucial in empowering young journalists and helping them realize their dreams. We look forward to achieving great results together.”
Financial inclusion is critical for Pakistan’s economic growth and poverty reduction. Financial inclusion empowers individuals and businesses by providing access to formal financial services like savings, credit, and insurance. According to the World Bank, over 1.4 billion adults worldwide still lack access to bank accounts, highlighting the significant gap. In Pakistan, while progress has been made, millions remain unbanked, hindering their ability to participate fully in the economy.
“This collaboration aligns with Bank Alfalah’s commitment to nurturing a skilled and informed workforce, while simultaneously contributing to the nation’s financial well-being,” said Madiha Javed Qureshi, Head of Corporate Communication at Bank Alfalah. “By providing scholarships to deserving students and empowering content creators through workshops, we are actively working to enhance responsible financial reporting that could not only benefit journalists but also people to make people use that information for their financial benefit.
This partnership will enhance journalism education, increase financial literacy among individuals, and foster a broader public awareness.
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