Governor State Bank of Pakistan (SBP), Jameel Ahmad, has announced a substantial rise in women’s financial inclusion in Pakistan, with the number of active bank accounts held by women increasing 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, Governor Ahmad highlighted that the gender gap in financial inclusion has narrowed notably — dropping from 39% to 30% over the same period.
Addressing a session titled “Capital to Scale: Women Entrepreneurs as Job Creators,” Ahmad underscored the vital role of women entrepreneurs in driving inclusive and sustainable economic growth, particularly in developing economies. He credited Pakistan’s forward-looking policy reforms, especially the SBP’s Banking on Equality initiative — the country’s first comprehensive gender-mainstreaming framework in the financial sector — as a major catalyst behind this progress.
Since its inception, the policy has significantly expanded women’s access to finance and contributed to broader economic participation. Female borrowers in the microfinance sector have increased by over 200%, while women’s SME and agricultural financing portfolios have doubled. Moreover, banks have hired more than 14,600 women over the past three years, further strengthening institutional diversity across the financial sector.
Governor Ahmad revealed that SBP is now finalizing the second phase of the Banking on Equality policy, which will focus on integrating digital solutions, business profiling, and remote financing channels to support women-led micro, small, and medium enterprises (MSMEs).
He also highlighted SBP’s recent adoption of the WE-Finance Code, a global initiative led by the World Bank and international partners to reduce gender gaps in MSME financing. SBP, along with 22 banks in Pakistan, has committed to the Code — marking a major step toward building a unified national coalition for women’s financial inclusion.
Reaffirming the central bank’s commitment to gender equality and women’s empowerment, Governor Ahmad emphasized that women’s entrepreneurship remains a cornerstone of Pakistan’s inclusive economic growth agenda. He called for continued investment in gender-responsive national strategies, women-friendly industry environments, and capacity-building initiatives to ensure sustainable and equitable economic progress.
