Women’s Bank Accounts in Pakistan Surge to 37 Million as Gender Gap Narrows: Governor SBP

Governor State Bank of Pakistan (SBP), Jameel Ahmad, has highlighted a remarkable increase in women’s financial inclusion, with active bank accounts held by women rising from 20 million to 37 million since the launch of the Banking on Equality policy in 2021. Speaking at the World Bank Headquarters in Washington D.C. during the 2025 Annual Meetings of the World Bank Group, Ahmad noted that the gender gap in financial inclusion has also narrowed significantly, dropping from 39% to 30% over the same period. Addressing a session titled ‘Capital to Scale: Women Entrepreneurs as Job Creators,’ Governor Ahmad emphasized the critical role of women entrepreneurs in driving inclusive and sustainable economic growth in developing countries. He pointed to Pakistan’s forward-looking policy reforms, particularly the SBP’s Banking on Equality initiative, the country’s first comprehensive gender-mainstreaming framework in the financial sector, as a key driver of progress. Since its launch, the policy has not only expanded access to finance for women but also contributed to job creation and institutional diversity. Female microfinance bank borrowers have increased by over 200%, and women’s SME and agricultural financing portfolios have doubled. Additionally, banks have inducted more than 14,600 women into their workforce over the past three years. Governor Ahmad announced that SBP is finalizing the second phase of the Banking on Equality Policy, which will integrate digital solutions, business profiling, and remote financing channels to further support women-led micro, small, and medium enterprises (MSMEs). He also highlighted SBP’s adoption of the WE-Finance Code, an initiative of the World Bank and international partners, aimed at reducing gender gaps in MSME financing. SBP, along with 22 banks, has committed to the Code, marking a significant step toward building a unified national coalition for women’s financial inclusion in Pakistan. Governor Ahmad reiterated the central bank’s commitment to advancing gender equality and women’s entrepreneurship as a key pillar of Pakistan’s inclusive economic growth strategy. He stressed the need for consistent gender-positive national strategies, women-friendly industry environments, and investment in capacity building to further empower women entrepreneurs and drive sustainable economic growth.