Message from Executive Director
As I begin to reflect on 2010 and visualize the way forward for our institution
in 2011, I am reminded of the importance of humility that comes from a deep and
innate sense of knowing our weaknesses and understanding our strengths. I would
like to share an ancient proverb with you which can guide us in the coming year:
When you see a person of worth, think of how you may emulate him.
see one who is unworthy, examine yourself. The year 2010 has been replete with some
difficult circumstances, which included heightened security problems and the growing
economic crisis. Yet the virtue of humility teaches us to forever remain positive
about the potential of our community and our people.
When we analyze the market situation, we have to face the fact that women’s access
to financial services in Punjab only is 40% of the total clients that are provided
access to microcredit services. This trend is in stark contrast to other countries
of the region where women are the fore-runners of the microfinance movement. But
we will continue to play a pioneering role in the area of financial Services that
target women by offering a range of innovative and women focused products. We believe
in building economic self-sufficiency amongst the low income household through providing
access to financial services.
There were many challenges in the initial years starting with the most basic: making
sure that the money disbursed came back on time, to accessing funds and bigger challenges
of designing customer friendly products, strong robust systems, strengthening people
and increasing scale of operations. It has been an exciting journey with memorable
moments and tremendous learning. I would like to extend my appreciation to our Chairman
for his continued support and encouragement; our board of Directors for their guidance
and governance in helping RCDS grow from a small scale organization to one of the
leading & Model Development Institutions; and our management team and staff for
their commitment and their will to make a difference.