SBP and UN Women Join Hands to Boost Women’s Financial Inclusion in Pakistan
New partnership focuses on financial literacy, access to finance, and women’s empowerment through inclusive economic development.
The State Bank of Pakistan, Banking Service Corporation (SBP BSC) and UN Women Pakistan have entered into a Memorandum of Understanding (MoU) to strengthen cooperation in advancing financial inclusion, literacy, and women’s empowerment in Pakistan. The MoU was signed in Karachi during a ceremony attended by Mr. Maraj Mahmood, Managing Director of SBP BSC, and Mr. Jamshed Kazi, Country Representative of UN Women Pakistan, underscoring a shared commitment to create a more inclusive financial landscape that supports women’s participation in the economy.
The partnership sets out a framework for collaboration designed to break down barriers that prevent women from accessing financial resources. With a strong emphasis on gender equality, the agreement aims to empower women by equipping them with financial knowledge, building their resilience, and opening up opportunities for sustainable growth. Speaking at the signing ceremony, Mr. Jamshed Kazi highlighted the critical role inclusive financial systems play in achieving gender equality. He noted that enabling women to access financial services is not just about equity, but also about unlocking significant untapped potential in Pakistan’s economy. Through this collaboration, UN Women aims to pave the way for women to secure financial independence, participate actively in economic life, and contribute to the country’s development.
Mr. Maraj Mahmood reaffirmed the State Bank’s dedication to advancing financial inclusion, especially for underserved groups. He emphasized that the collaboration with UN Women reflects the central bank’s vision of expanding access to finance and raising financial literacy levels among women. By tackling structural challenges and fostering innovative solutions, the SBP BSC aims to create an environment where women are better able to engage in entrepreneurial ventures, manage household finances more effectively, and contribute meaningfully to local and national economic growth.
The MoU outlines several areas of focus, including the organization of joint seminars and conferences to raise awareness, the development of capacity-building initiatives to equip women with financial management skills, and the undertaking of collaborative research to identify the root causes of barriers to financial inclusion. These initiatives are expected to inform policy recommendations, guide stakeholders, and shape future interventions that promote inclusivity in the financial sector.
One of the key priorities of this partnership is the promotion of digital financial services. With digital platforms emerging as vital tools for expanding financial access, the collaboration seeks to encourage women’s adoption of mobile banking, digital wallets, and other fintech solutions. By widening the reach of these services, particularly in underserved regions and low-income communities, the initiative aims to reduce the gender gap in financial access and support women’s empowerment on a broader scale.
This collaboration builds on UN Women’s ongoing efforts to promote gender equality and economic empowerment globally, while also aligning with Pakistan’s national commitments under international frameworks, including the Beijing+30 review process. It marks another step toward building a financial ecosystem that not only serves women but also recognizes them as key contributors to economic resilience and growth.
While the MoU does not impose legal obligations, it creates a strong and practical framework for joint action. By leveraging the combined expertise, networks, and resources of both institutions, the partnership is positioned to deliver meaningful outcomes that extend far beyond policy dialogue. It sets the stage for real-world impact, ensuring that women across Pakistan can access the financial tools and knowledge they need to thrive.
As Pakistan continues to pursue inclusive economic development, the collaboration between SBP BSC and UN Women Pakistan sends a powerful message: empowering women through financial inclusion is not just a matter of social justice, but a critical driver of national progress.
