Karachi, At the inaugural ceremony of the first edition of Pakistan Financial Literacy Week (PFLW), Governor of the State Bank of Pakistan (SBP) Mr. Jameel Ahmad underscored the recognition of access to financial services as a fundamental right. The event, themed ‘Digital Bankari – fori aur asaan’, held at the SBP Learning Resource Centre in Karachi, saw the participation of prominent figures from the banking industry, the World Bank, the Alliance for Financial Inclusion, and other stakeholders.
According to State Bank of Pakistan, Governor Ahmad highlighted the critical role of an inclusive financial sector in bolstering the growth of the banking industry and enhancing the effectiveness of monetary policy transmission channels. The Governor elaborated on the SBP’s continuous efforts to expand the availability and utilization of financial services, aiming to meet the financial needs of people and businesses in a fair and dignified manner.
The SBP’s key initiatives to reach the unbanked and underbanked segments of society include the implementation of national-level strategies and policies such as the National Financial Inclusion Strategy, National Financial Literacy Program, and Banking on Equality Policy. Among these initiatives are RAAST, ASAAN Digital Account, ASAAN Mobile Account, Digital Banks, and specialized schemes like the SME Asaan Finance Scheme (SAAF), Refinance and Credit Guarantee Scheme for Women Entrepreneurs, Line of Credit for MSMEs, and the Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB and ALS).
Following the Governor’s speech, Excellence Awards were presented to commercial banks that have significantly contributed to enhancing financial literacy since the inception of the National Financial Literacy Program in 2017.
The event also featured a panel discussion on the future landscape of digital finance, addressing emerging trends, challenges, and opportunities in the digital financial ecosystem. Panelists from various sectors shared their insights on how technology is transforming the financial industry and discussed strategies for ensuring a secure and inclusive digital finance landscape.
The State Bank of Pakistan, in collaboration with stakeholders, is committed to fostering a technologically advanced ecosystem that promotes financial stability and sustainability. This commitment is pivotal to Pakistan’s transition towards a digitally empowered and financially inclusive society. Throughout the Financial Literacy Week, a series of programs and activities are planned to raise awareness and educate citizens on the significance of financial literacy in today’s digital age.