SBP Aims to Educate 10 Million Pakistanis in Financial Literacy by 2028

The State Bank of Pakistan (SBP) aims to impart financial literacy to 10 million beneficiaries by the end of FY2028. This was stated by Managing Director SBP BSC, Mr. Maraj Mahmood, who emphasized SBP’s commitment to advancing youth participation in the financial system. To achieve this milestone, SBP BSC plans to engage 1.2 million people during FY2026. He noted that 3.4 million individuals have already been reached so far. The collaboration with Teach the World Foundation (TWF) reflects SBP’s vision to expand financial literacy and access to finance for special segments. Mr. Mahmood highlighted the need to address structural barriers and develop innovative solutions to promote financial literacy and inclusion throughout the country. The State Bank of Pakistan, Banking Services Corporation (SBP BSC), and Teach the World Foundation (TWF) have signed a Memorandum of Understanding (MoU) to enhance financial literacy and promote inclusive financial practices across Pakistan. The collaboration places a strong emphasis on extending financial inclusion to differently abled and underserved communities. The signing ceremony took place at SBP BSC Karachi in the presence of Managing Director SBP BSC, Mr. Maraj Mahmood, and President TWF, Mr. Arshad Anis. The partnership underscores the shared commitment of both organizations to create an enabling environment for the promotion of financial inclusion among people from underserved social strata. Deputy Governor SBP, Mr. Saleemullah, graced the occasion and highlighted the significance of the partnership and the potential for future collaboration between SBP and TWF, particularly in advancing digital financial literacy and reaching out-of-school children. He reiterated SBP’s vision of ensuring access to financial services for all segments of society through targeted initiatives and strategic partnerships. Mr. Arshad Anis underscored the importance of inclusive financial systems in enabling access to finance and promoting financial literacy among underserved segments of society. He stated, “Financial inclusion is key to unlocking the potential of skilled citizens in Pakistan. Through this partnership with SBP BSC, we have created pathways for financially underserved social segments of Pakistan, built resilience, and contributed to sustainable economic growth.” The MoU outlines key areas of cooperation, including the organization of joint outreach and awareness initiatives targeting underserved segments of society, the sharing of expertise, resources, and best practices to promote financial inclusion, as well as the collaborative development and implementation of financial literacy programs. It also includes the periodic review and reporting of outcomes and impact.