The SBP aims to increase bank account coverage to 75 percent.

The State Bank of Pakistan (SBP) aims to expand bank account coverage to 75 percent of the adult population within the next three years, as stated by its governor on Tuesday, with the objective of diminishing the gender gap to 25 percent by 2028.

Pakistan, with a population of 240 million, is home to one of the world’s largest unbanked populations, with around 64 percent of its adult population having a bank account, according to central bank figures.

This has risen from merely 47 percent in 2018, while the gender gap has also shrunk from 47 percent to 34 percent in recent years.

During the Pakistan Banking Summit 2025, State Bank of Pakistan (SBP) Governor Jameel Ahmad stated that financial inclusion is a fundamental responsibility of the central bank.

“To achieve these ambitious targets, we want to enhance the depth, breadth, and quality of financial services, particularly for low-income individuals, the microfinance sector, SMEs (small, medium enterprises) and agriculture,” he said.

This initiative is part of the SBP’s Strategic Vision 2028, which aims to promote equitable and sustainable access to financial services, establish an innovative digital financial ecosystem, and improve the efficiency, equity, and stability of the financial system.

Ahmad urged the banking industry to reevaluate its business plan to prioritize the mobilization of deposits and the enhancement of loans to the private sector, specifically targeting SMEs and the agricultural sectors.

“Our banks need to rethink their current business model, reassess their priorities, and play a more active role in financial intermediation,” he said.

Pakistan, which has faced an economic meltdown in recent years, is currently undertaking reforms to document and digitize economy and broaden its tax base.

The central bank governor asked the banking sector to augment their utilization of artificial intelligence, leveraging cellular and satellite data, to offer cost-efficient alternative delivery channels that improve access, consumption, and quality of financial services.