Brunei's Local News - Brudirect.com

Bandar Seri Begawan - Standard Chartered Bank has pledged to develop an Asia-wide initiative to advance women's financial education, provide training and capacity building to promote economic empowerment. This is the first initiative of its kind in the region.

The announcement was made by .laspal Bindra, CEO of Asia, Standard Chartered, at the opening plenary session at the Clinton Global Initiative Asia in Hong Kong.

According to a press release, a three-year commitment will see the Bank partner with the influential women's empowerment organisation, 'Vital Voices' to launch an annual 'Vital Voices of Asia' summit. This summit will bring together over 300 female leaders from across the region and will focus on a variety of issues including political leadership, social and economic progress, human rights and human trafficking and violence against women.

Standard Chartered will oversee the "Women as an Economic Force" component of the summit, which will include education and training sessions on economic literacy, ranging from management of finances through to how to start and grow SMEs — capitalising on the bank's local skills and expertise built through a long-established presence in Asia.

The vast gaps between the rich and the poor in Asia make it one of the most unequal regions in terms of distribution of wealth in the world. Gender inequality mirrors income inequality in many areas of Asia, where women's disempowered political, economic and social status impedes the achievement of all the Millennium Development Goals.

Also as part of the pledge, Standard Chartered will work with Vital Voices, whose Honorary Chairs include Hillary Clinton, to run the annual training summits. The Bank will leverage its network of employees and branches to provide ongoing training, support and mentoring to emerging female business leaders. Vital Voices will run training programmes, develop an online support community and provide small seed grants to launch projects.

The first 'Vital Voices of Asia' summit will take place in India in November 2009. The four-day summit Will bring together female leaders, including young women, from across the region, who will then return to their communities and train others.

Jaspal Bindra said: "To us, as a business, women represent a large customer and talent segment. But perhaps more importantly, we also recognise the fundamental role that gender equality plays in advancing the interests of entire communities.

Investing in women has a fantastic ripple effect on hundreds of other women and families, as well as social, economic and political progress. Ultimately, we are investing in the sustainability of the communities in which we operate - and the long-term health of our business."

Standard Chartered is also supporting the announcement with a new communications campaign called 'Women Can'. Reinforcing the potential of women, it will feature success stories of women as a force for economic empowerment. -- Courtesy of Borneo Bulletin