Financial Inclusion Climbs to 67% in Pakistan: Governor SBP

Pakistan’s financial inclusion rose from 47 percent in 2018 to 67 percent in June 2025, while the gender gap in financial access narrowed from 47 percent to 30 percent over the same period, according to State Bank of Pakistan (SBP) Governor Jameel Ahmad. Delivering a keynote address at the ninth Annual Microfinance Conference in Karachi, he attributed these achievements to transformative digital initiatives such as Raast, Asaan Mobile Account, Roshan Digital Account, and the launch of Digital Banks, alongside the Banking on Equality Policy, which promotes women’s financial inclusion. Looking ahead, the Governor reiterated the headline targets of the National Financial Inclusion Strategy (NFIS) 2028: to expand financial inclusion in Pakistan to 75 percent and reduce the gender gap to 25 percent by 2028. Regarding the external sector, he pointed out that the country’s foreign exchange reserves are now almost five times higher than the level recorded in February 2023, reflecting strategic interbank foreign exchange purchases to shore up the country’s buffers. He added, “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.” The Governor also shared that the SBP has launched a Climate Risk Fund under the World Bank-funded Resilient and Accessible Microfinance Project, aimed at supporting two million borrowers through liquidity facilities to mitigate the impact of climate shocks. Furthermore, with the support of the Government of Pakistan, the SBP has launched a Risk Coverage Scheme for Small Farmers and Underserved Areas, offering 10 percent first-loss coverage and operational incentives to expand lending in primarily underserved regions such as Balochistan, Khyber Pakhtunkhwa, Azad Jammu & Kashmir, and Gilgit-Baltistan.