By Maham Tahir

The State Bank of Pakistan’s Banking Services Corporation (SBP-BSC) and UN Women Pakistan signed a memorandum of understanding (MoU) to jointly promote women’s financial inclusion through enhanced access to banking and literacy. The partnership, in a move experts call a significant boost for gender inclusion, aims to expand women’s access to financial services and build their financial literacy across the country, officials said.

The signing ceremony was held at SBP-BSC’s headquarters in Karachi on Aug 27, with SBP-BSC Managing Director Maraj Mahmood and UN Women Country Representative Jamshed Kazi in attendance.
In Pakistan, where women’s access to formal finance remains among the lowest in the region, policymakers see the collaboration as timely.

“Financial inclusion is key to unlocking the potential of women in Pakistan,” said Jamshed Kazi, UN Women’s country head, noting that inclusive financial systems are vital. The initiative aligns with the central bank’s ongoing gender mainstreaming drive (including its Banking on Equality policy) and national targets to narrow the finance gender gap.

Officials underscore that empowering female customers will not only boost household welfare but also support broader economic development.
Pathways for Women’s Access Under the SBP-UN Women accord, both institutions will launch joint programmes aimed at removing barriers that have kept most Pakistani women out of the banking system.

The MoU outlines cooperation on a range of initiatives. From financial literacy seminars and community awareness campaigns to capacity-building workshops and research on obstacles to women’s inclusion. A core focus will be expanding digital financial services in underserved areas, leveraging fintech and mobile banking to reach women in remote and rural regions.

“Through this partnership with SBP-BSC, UN Women aims to create pathways for women to access financial services, build resilience, and contribute to sustainable economic growth,” Kazi said.

Credit: Independent News Pakistan (INP)