Pakistan’s Financial Inclusion Reaches 67% as Gender Gap Narrows to 30%: Says SBP Governor

KARACHI:Pakistan’s financial inclusion has made remarkable progress, rising from47 percent in 2018 to 67 percent by June 2025, while thegender gap in financial access has narrowed from 47 percent to 30 percentover the same period, according toState Bank of Pakistan(SBP) Governor Jameel Ahmad. Speaking at theninth Annual Microfinance Conference in Karachi, the Governor attributed this progress to a series oftransformative digital initiativesintroduced over recent years. These includeRaast,Asaan Mobile Account (AMA),Roshan Digital Account (RDA), and thelaunch of Digital Banks, as well as theBanking on Equality Policy, which focuses on promoting women’s financial inclusion. Looking ahead, Governor Ahmad reaffirmed theheadline targets of the National Financial Inclusion Strategy (NFIS) 2028— to expand overall financial inclusion to75 percentand furtherreduce the gender gap to 25 percent by 2028. On theexternal sector, the Governor highlighted thatPakistan’s foreign exchange reserves are now nearly five times higherthan the level recorded inFebruary 2023, primarily due tostrategic interbank foreign exchange purchasesaimed at strengthening the country’s financial buffers. “Had we not built up our reserves from interbank purchases, the government would have needed to borrow significantly higher amounts, at higher interest rates, to make timely debt repayments,” he remarked. Governor Ahmad also announced the launch of aClimate Risk Fundunder theWorld Bank-funded Resilient and Accessible Microfinance Project, designed to supporttwo million borrowersthrough liquidity facilities to mitigate the effects of climate shocks. In addition, the SBP — with the support of theGovernment of Pakistan— has introduced aRisk Coverage Scheme for Small Farmers and Underserved Areas, offering10 percent first-loss coverageandoperational incentivesto expand lending in regions such asBalochistan, Khyber Pakhtunkhwa, Azad Jammu & Kashmir, and Gilgit-Baltistan. The Governor concluded by emphasizing that these measures collectively reflect SBP’s continued commitment to fosteringinclusive, sustainable, and resilient economic growthacross Pakistan.