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  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...

  How State Bank digital account benefitting women- concessional financing scheme for women State bank of Pakistan is all set to step a forward by introducing digital account opening. The SBP digital account opening will provide a great benefit to women from easy account opening to get concessional financing for their plans. SBP enable people to open accounts at banks without them to be physically present. Pakistan state bank had already allowed overseas Pakistanis to open bank accounts without physically visiting branches and embassies in their host countries through Roshan digital account. The SBP governor, Dr. Reza Baqir, said “ Digital account opening is a  step forward .  We have a policy to inaugurate this facility locally and to allow digital onboarding .” SBP chairman brought out that there were complaints about opening new bank accounts, especially housewives lodged complaints.They argued that banks asked them for their source of income or their husband’s source ...