KARACHI: The State Bank of Pakistan (SBP) has set an ambitious goal to impart financial literacy to 10 million beneficiaries by the end of FY2028, reaffirming its commitment to promoting inclusive finance and youth participation in the financial system.
This was stated by Managing Director SBP Banking Services Corporation (SBP BSC), Mr. Maraj Mahmood, during the signing ceremony of a Memorandum of Understanding (MoU) between SBP BSC and Teach the World Foundation (TWF) in Karachi.
Mr. Mahmood shared that SBP BSC plans to engage 1.2 million people during FY2026, adding that 3.4 million individuals have already been reached through ongoing financial literacy initiatives. He emphasized the importance of addressing structural barriers and developing innovative solutions to strengthen financial inclusion across Pakistan.
The collaboration between SBP BSC and TWF is aimed at enhancing financial literacy and promoting inclusive financial practices, particularly among differently abled and underserved communities. The MoU focuses on organizing joint outreach and awareness programs, sharing resources and best practices, and developing targeted financial literacy programs.
The signing ceremony was attended by Deputy Governor SBP, Mr. Saleemullah, who underscored the significance of the partnership and its potential to advance digital financial literacy and reach out-of-school children. He reiterated SBP’s vision of ensuring access to financial services for all segments of society through strategic collaborations.
President of Teach the World Foundation, Mr. Arshad Anis, highlighted the transformative role of inclusive financial systems in empowering marginalized communities. He stated,
“Financial inclusion is key to unlocking the potential of skilled citizens in Pakistan. Through this partnership with SBP BSC, we have created pathways for financially underserved segments, built resilience, and contributed to sustainable economic growth.”
The MoU also provides for periodic review and reporting of outcomes to ensure measurable impact, marking another significant step by SBP towards achieving a financially literate and inclusive Pakistan.
