Governor SBP inaugurates 1st edition of Pakistan Financial Literacy Week.

Governor State Bank of Pakistan (SBP) Mr Jameel Ahmad has said that SBP fully recognises access to financial services as a fundamental right. SBP’s mission is to empower every citizen by providing them with the tools and knowledge needed to participate fully in the economy. He delivered his keynote address at today’s inaugural Pakistan Financial Literacy Week (PFLW) event at the Learning Resource Centre, SBP, Karachi. The theme for the week is ‘Digital Bankari – fori aur asaan’. The event was attended by Presidents and CEOs of commercial banks, senior officials from the World Bank, Alliance for Financial Inclusion and other stakeholders.

The Governor said that an inclusive financial sector is important for the overall growth of the banking industry and for augmenting monetary policy transmission channels and increasing its effectiveness. Mr. Ahmad added that SBP has always been working on expanding the availability and utilisation of financial services for people and businesses to meet their financial services needs fairly and dignifiedly.

The key initiatives for expanding financial services to the unbanked and underbanked segments of society include implementing national-level strategies and policies such as National Financial Inclusion Strategy, National Financial Literacy Program and Banking on Equality Policy. He shared that SBP has been implementing several initiatives under the national level policies uniquely positioned to benefit all segments of the population, i.e. RAAST, ASAAN Digital Account, ASAAN Mobile Account, and more recently, Digital Banks and specialised schemes to enhance access to finance. The specialised schemes include the SME Asaan Finance Scheme (SAAF), Refinance and Credit Guarantee Scheme for Women Entrepreneurs, Line of Credit for MSMEs, and Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS).

After the Governor’s inaugural speech, the Excellence Awards were conferred to various commercial banks that have actively participated in the National Financial Literacy Program since its commencement in 2017 and contributed to improving financial literacy among the beneficiaries.

The event’s second session included a panel discussion, where experts and thought leaders explored the future landscape of digital finance. The discussion delved into emerging trends, challenges, and opportunities in the rapidly evolving digital financial ecosystem. Panellists representing diverse sectors shared insights on how technology reshapes the financial industry and discussed strategies to ensure a secure and inclusive digital finance landscape.

Collaborating with stakeholders, SBP actively shapes an ecosystem that embraces technological advancements. This collaborative effort ensures financial stability and sustainability, critical components in the nation’s journey towards a digitally empowered and financially inclusive society. As Financial Literacy Week progresses, a wide range of programs and activities, both on-ground and online, have been designed to raise awareness and educate citizens on the importance of financial literacy in the evolving digital era.


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