How State Bank planning 20 million women target bank account by 2023
KARACHI: The State Bank of Pakistan (SBP) has put a target of achieving 20 million women bank accounts by year 2023 in order to reduce the gender gap in financial inclusion.
According to SBP statement, women’s access to financial and economic opportunities is important for sustainable and comprehensive economic growth. Unfortunately, 18 percent of adult women in Pakistan have an active bank account compared to 51% of other gender. To address the gender differences, the state bank of Pakistan has approved a medium-term national target of 20 million active women bank accounts by 2023 under the National Financial Inclusion Strategy.
The target of active women bank accounts will be achieved through the launch of a "Banking on Equality" scheme which aims to women's financial inclusion in Pakistan.
“Banking on Equality" has a vision of reducing the gender gap in Financial Inclusion. This is a flagship policy initiative of the State Bank of Pakistan for women's financial inclusion. The policy will bring a bracket size within the financial sector. The measures will bring a shifting trend in friendly gender business practices. SBP also has organized a webinar “Consultative Launch of Banking on Equality policy: Reducing the gender gap in Financial Inclusion”. The webinar was shown live on State Bank’s Facebook page.
StateBankPakistan aims to stimulate the out the significance of women's financial inclusion. SBP also holds discussions among distinguished international thought leaders to discuss practical ways to give women's women financial inclusion in Pakistan.