Karachi: The State Bank of Pakistan (SBP) has launched Pakistan’s Financial Inclusion Index (P-FII), a comprehensive measure designed to assess the level of financial inclusion across the country by evaluating access to, usage of, and the quality of financial services.
According to the inaugural results, Pakistan’s overall financial inclusion level stood at 58.1 in 2024.
The launch of the P-FII aligns with SBP’s mandate under the SBP Act, 1956, which identifies the promotion of financial inclusion as a core objective of the central bank. To advance this goal, SBP is implementing the National Financial Inclusion Strategy (NFIS) 2024–28, aimed at expanding access to financial services nationwide while enhancing their usage and quality.
As outlined in the NFIS, the development of the P-FII underscores SBP’s commitment to informed, evidence-based policymaking. The index offers a holistic assessment of financial inclusion based on 69 indicators covering banking, non-banking, and payment services provided by banks and other financial institutions. These indicators span financial sector infrastructure, usage of financial products and services, and the quality of service delivery.
SBP stated that the P-FII has been developed in line with international best practices, with each indicator benchmarked against a defined target reflecting the outcomes the central bank aims to achieve by 2030.
The central bank began work on the index in 2023, conducting a research study that reviewed methodologies and data parameters used by other central banks and multilateral institutions globally. This was followed by extensive consultations with domestic and international stakeholders to refine and finalize the framework.
The development of financial inclusion indices is an emerging global trend among central banks to evaluate the inclusivity, effectiveness, and outreach of financial systems. SBP plans to publish the P-FII annually to track progress over time.
A detailed paper on the Pakistan Financial Inclusion Index is available on the State Bank of Pakistan’s official website.
