In remarks at a World Bank Group Annual Meetings side event in Washington, State Bank of Pakistan Governor Jameel Ahmad highlighted SBP’s Banking on Equality framework and related reforms to expand women’s financial inclusion and support women entrepreneurs, and outlined plans for a second phase of the policy. He also flagged SBP’s adoption of the World Bank-led WE-Finance Code alongside 22 banks as a mechanism to reduce gender gaps in micro, small and medium-sized enterprise (MSME) finance. Since Banking on Equality launched in September 2021, the number of active bank accounts held by women increased from 20 million to 37 million as of June 2025, while the gender gap in financial inclusion declined from 39% to 30%. Over the same period, female microfinance bank borrowers increased by over 200% and women’s small and medium-sized enterprise and agricultural financing portfolios doubled, and banks inducted more than 14,600 women into their workforce over the past three years. SBP is finalizing a second phase of Banking on Equality that is expected to integrate digital solutions, business profiling and remote financing channels for women-led MSMEs, while the WE-Finance Code is positioned to address gaps in gender-disaggregated data and support the design of targeted, gender-responsive financing solutions.
State Bank of Pakistan 2025-10-21
State Bank of Pakistan reports Banking on Equality gains to 37 million women’s accounts and commits to WE-Finance Code with 22 banks
State Bank of Pakistan Governor Jameel Ahmad, at a World Bank Group event, highlighted the Banking on Equality framework's success in boosting women's financial inclusion and announced its second phase. Since 2021, women's bank accounts rose from 20 million to 37 million, and the gender gap in financial inclusion decreased from 39% to 30%. The second phase will focus on digital solutions and targeted financing for women-led MSMEs, supported by the WE-Finance Code.