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Economic growth

Empowering Women Entrepreneurs in Pakistan: SBP's Forward-Looking Policy Reforms

Strategic Insights

— 1 min read

Pakistan's central bank, the State Bank of Pakistan (SBP), is making significant strides in promoting women's economic empowerment through its flagship policy, Banking on Equality. The policy aims to improve financial inclusion and job creation among women entrepreneurs, with promising results since its launch in September 2021. Governor Jameel Ahmad highlighted the importance of women entrepreneurs in driving inclusive economic growth in developing countries during a session at the World Bank Headquarters in Washington, DC.

Key Takeaways:

  • The Banking on Equality policy has significantly narrowed the gender gap in financial inclusion in Pakistan, with the number of active bank accounts held by women increasing from 20 million to 37 million as of June 2025, representing a 85% growth.
  • The gender gap in financial inclusion has declined from 39% to 30% since the policy's launch in September 2021, indicating a substantial improvement in women's access to financial services.
  • Financing to women has grown substantially, with female microfinance bank borrowers increasing by over 200% and women's SME and agricultural financing portfolios doubling during the same period.
  • Banks have inducted over 14,600 women into their workforce during the past three years, contributing to job creation and institutional diversity.
  • The SBP is finalizing the second phase of the Banking on Equality Policy, which will integrate digital solutions, business profiling, and remote financing channels to support women-led micro, small, and medium enterprises (MSMEs).
  • The SBP has adopted the WE-Finance Code, committing to reduce gender gaps in MSME financing along with 22 banks.

Statistics:

  • 37 million active bank accounts held by women as of June 2025, representing an 85% growth since the Banking on Equality policy's launch in September 2021.
  • 30% decline in gender gap in financial inclusion since the policy's launch.
  • 200% increase in female microfinance bank borrowers.
  • 100% increase in women's SME and agricultural financing portfolios.
  • 14,600 women inducted into banks' workforce during the past three years.
  • 22 banks, including the SBP, have committed to the WE-Finance Code.

Sources:

  • State Bank of Pakistan (SBP)
  • World Bank Headquarters
  • Banking on Equality policy (2021)
  • WE-Finance Code (initiative of the World Bank, in collaboration with international financial institutions and countries)

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