SBP Targets 25% Financial Inclusion Gender Gap by 2028

The State Bank of Pakistan (SBP) has introduced the second edition of its Banking on Equality (BoE) Policy, aimed at supporting the National Financial Inclusion Strategy (NFIS) target of reducing the gender gap in financial inclusion to 25% by 2028.

The BoE 2026 policy builds on the achievements of its predecessor, introducing stronger measures and targets to improve women's representation and retention in the financial sector, widen their digital access to financial services, promote women-led entrepreneurship and financial literacy through support hubs, and strengthen the use of gender-disaggregated data for monitoring and outreach.

The updated policy establishes targets for women's representation in recruitment, customer outreach and branchless banking agent networks. It also recommends that banks provide daycare facilities for working mothers and implement career advancement policies to help mid-career women progress into leadership positions.

To expand women's access to financial services, BoE 2026 directs banks to digitise access to accounts and payment facilities through targeted digital onboarding campaigns, simplified digital accounts designed for women, and greater adoption of digital payments among women-led businesses.

To increase financing for women-owned and women-led micro, small and medium enterprises, the policy encourages financial institutions to raise the proportion of women borrowers across key financing categories.

The policy also promotes incorporating a gender perspective into credit planning, developing simplified and specialised financing products, using digital platforms and fintech partnerships, and introducing alternative credit assessment and collateral arrangements. These measures are intended to better serve women with limited formal financial histories.

Another objective is to strengthen women's entrepreneurship and financial literacy, creating a practical pathway for greater participation in the financial system.

To monitor implementation, the SBP will establish a monitoring and evaluation framework, require quarterly data reporting and conduct regular mystery shopping exercises.

Introduced in 2021, the original BoE Policy was Pakistan's first gender-mainstreaming initiative of its kind, designed to narrow the financial inclusion gap and make the banking sector more accessible and accommodating for women.

Following its implementation, the overall gender gap in financial inclusion declined from 39% in 2021 to 29% in 2025.

During the same period, banks recruited more than 17,500 women under the policy, raising women's share of total banking-sector employees from 13% to 17%. Banks have also established dedicated women's financial services departments and teams to develop products and services tailored to women's needs.

Recognising the policy's implementation since 2021, the SBP recently received the Policy Achievement Award for Gender Inclusive Finance 2026 from the Alliance for Financial Inclusion (AFI).

The BoE 2026 policy was finalised after consultations with international and domestic stakeholders. It will also contribute to implementing the World Bank-led Women Entrepreneurship (WE) Finance Code initiative.

The policy is part of the SBP's Vision 2028 and seeks to advance women's financial inclusion through digitalisation, entrepreneurship and improved access to financing.