The State Bank of Pakistan Banking Services Corporation (SBP BSC) Rawalpindi and Fatima Jinnah Women University have formalized a strategic partnership aimed at strengthening collaboration between academia and the central banking system to promote financial inclusion and digital empowerment across Pakistan.
The partnership was sealed through the signing of a Memorandum of Understanding, marking a structured effort to align research, awareness, and capacity-building initiatives with the broader objectives of inclusive finance. The MoU was signed by Prof. Dr. Malik Ghulam Behlol, Dean Faculty of Education, representing Fatima Jinnah Women University, and Rizwan Khaleel Shamsi on behalf of SBP BSC Rawalpindi.
Under the agreement, both institutions will collaborate on a range of initiatives designed to bridge knowledge gaps and enhance access to formal financial services. Key focus areas include Islamic banking, the State Bank’s Banking on Equality framework, digital banking and onboarding processes, capacity-building and awareness sessions for small and medium-sized enterprises, as well as research collaborations and Financial Inclusion Support Unit-related activities.
A central pillar of the partnership is the promotion of Banking on Equality and digital financial inclusion, with a particular emphasis on improving women’s access to formal financial channels. By leveraging academic networks and central bank outreach mechanisms, the initiative aims to deepen understanding of financial products, encourage digital adoption, and address structural barriers that limit women’s participation in the formal economy.
The involvement of BoE Student Ambassadors emerged as a notable feature of the collaboration. Their active engagement in promoting financial awareness and inclusion initiatives reflects a growing role for university-led advocacy in advancing national financial literacy objectives. The partnership seeks to harness this energy by integrating student-driven outreach into structured financial education campaigns.
During the ceremony, Prof. Dr. Behlol highlighted that Fatima Jinnah Women University leads a consortium of 18 women’s universities across Pakistan. This extensive academic network is expected to play a transformative role in scaling financial literacy initiatives and collaborative research efforts nationwide. Through this consortium, outreach programs and research findings can be disseminated across multiple campuses, significantly amplifying impact.
The collaboration is also designed to strengthen SME awareness and capacity building. By conducting targeted sessions on digital onboarding, Islamic banking principles, and regulatory frameworks, the initiative aims to equip entrepreneurs and small business operators with the knowledge required to access formal financing channels more effectively.
Research cooperation forms another important dimension of the MoU. Joint studies and academic engagement are expected to generate data-driven insights that can inform policy discussions and enhance the design of inclusive financial products. Aligning academic expertise with central bank priorities creates an avenue for evidence-based policymaking and practical implementation strategies.
The agreement underscores the growing recognition that financial inclusion requires coordinated action across institutions. By linking academia with the operational arms of the central bank, the partnership aims to build a more inclusive, equitable, and digitally connected financial landscape.
As Pakistan continues to advance digital banking frameworks and gender-focused financial initiatives, structured collaborations such as this MoU are likely to play a critical role in shaping long-term inclusion strategies and expanding access to formal financial services across the country.
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