The State Bank of Pakistan has launched its Banking on Equality Policy 2026, setting fresh targets for women’s employment, digital accounts and business financing.
The second edition builds on the framework introduced in 2021. It supports Pakistan’s National Financial Inclusion Strategy goal of narrowing the financial inclusion gender gap to 25% by 2028.
SBP issued the policy on October 13 after consultations with local and international stakeholders. It aims to bring more women into formal banking while improving their financial literacy and opportunities for entrepreneurship.
New targets for women’s banking access
The central bank’s circular requires regulated institutions to increase women’s active account ownership by at least 20% annually. Branchless banking providers must expand their combined network of women agents to 35,000 by December 31, 2028.
Banks and development finance institutions should also aim to double financing for women and women-owned or led businesses across priority sectors. SBP has set the same December 2028 deadline for this target.
To widen access, institutions must promote Asaan Mobile Accounts and Asaan Digital Accounts among women, including informal and gig workers.
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The policy also calls for dedicated Women Digital Business Accounts with simplified requirements. Account limits should reflect the size and nature of each business.
Banks should encourage women-led businesses to accept digital payments and develop financing products suited to female entrepreneurs.
Alternative credit assessments form another part of the policy. These methods could help lenders assess women who lack formal credit histories or conventional collateral, reducing barriers to business financing.
More women staff and leadership opportunities
SBP has directed regulated institutions to prepare plans to raise women’s workforce share from 17% to 22% by December 2028.
The policy addresses hiring, retention, promotion and mentoring. It calls for career development measures that help women progress into leadership positions.
Banks should also support working mothers through daycare facilities or allowances. Such measures aim to help women remain in employment and continue their careers.
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The first policy delivered measurable gains, according to SBP. Pakistan’s financial inclusion gender gap narrowed from 39% in December 2021 to 29% in December 2025, a 10-percentage-point improvement.
Banks hired more than 17,500 women during that period. Women’s share of banking staff consequently increased from 13% to 17%.
Banks also established dedicated departments or teams to develop financial products and services for women. The updated framework builds on those arrangements to improve customer outreach and support women’s businesses.
Quarterly reporting to track implementation
SBP will monitor implementation through quarterly data reporting, regular evaluations and mystery shopping exercises.
The monitoring framework will allow the central bank to assess institutions’ progress against targets for recruitment, female customers and branchless banking agents.
Financial literacy remains a central priority alongside access to accounts and credit. The policy seeks to help women understand and use financial services while supporting their participation in entrepreneurship.
The 2028 inclusion target would narrow the remaining gap by another four percentage points from its 2025 level.
