Halima Iqbal, an experienced investment banker, returned to Pakistan from Canada in 2017 following a successful tenure at First Derivatives (a global capital markets consulting firm). Her return brought her face to face with the stark realities hindering women’s access to financial services in the country, illustrated by her own struggle to open a simple bank account as a woman without an independent source of income at that time. Comparing her experiences with those of her male counterparts, Halima recognized the formidable barriers women faced in securing financial services in Pakistan. Motivated by this disparity, she embarked on a journey to uncover the root causes, leading to a startling revelation: approximately 41 (23% women and 18% men) of Pakistan’s population relied on informal savings committees for financial management, equivalent to nearly 100 million individuals. This glaring gap in formal financial inclusion inspired Halima to establish OraanTech (Pvt) Ltd. (Oraan) in August 2018, alongside a team of five members who shared her passion for addressing financial inequality. The company’s vision is to promote financial inclusion for female members of society by introducing innovative financial solutions.

In 2018, Oraan officially registered with the Securities and Exchange Commission of Pakistan (SECP), laying the foundation for its future endeavours. During its early stages, Oraan relied on funding from angel investors, with Halima assuming the role of Chief Executive Officer (CEO) in 2019. A detailed shareholders agreement was put in place to formalize the investor – investee relationship.