State Bank of Pakistan Deputy Governor Saleem Ullah has called for a technology-led approach to expanding financial inclusion in Pakistan, identifying financial literacy as one of the biggest barriers preventing wider participation in the formal financial system. Saleem Ullah made the remarks while addressing the Future of Finance Summit 2026, organized by the Institute of Cost and Management Accountants of Pakistan at the Pearl Continental Hotel in Karachi. The summit brought together policymakers, financial experts, corporate and business leaders, investors, professionals and other stakeholders from the financial sector to discuss developments shaping the future of finance.
During his address, the State Bank of Pakistan Deputy Governor highlighted the limited use of financial services and digital devices as significant challenges to broader financial inclusion. He also pointed to Pakistan’s continued heavy reliance on cash, noting that these factors are slowing the expansion of financial services among sections of the population that remain outside or have limited access to the formal financial system.
Financial literacy, according to Saleem Ullah, remains a central issue in efforts to expand access to financial services. Greater availability of digital financial products alone may not be sufficient if people do not have the knowledge or confidence required to use them effectively. Increasing awareness and understanding of available financial services therefore remains important for bringing more individuals into the formal financial system.
Saleem Ullah stressed that technology can play an important role in taking financial services to remote and underserved communities. He noted that the platforms and payment rails required to extend financial services to these areas are already available. The focus, therefore, should be on using the existing technological and payment infrastructure more effectively to reach people who have traditionally faced difficulties accessing formal financial services.
The comments underline the growing role of digital infrastructure in Pakistan’s financial sector. Digital platforms and payment systems can reduce some of the geographical and access-related barriers associated with conventional financial services, allowing customers in underserved areas to access financial products without relying entirely on physical banking infrastructure. The deputy governor also emphasized that financial inclusion should ultimately be linked to improvements in people’s quality of life. He said efforts should be directed toward expanding access to financial services in ways that provide practical benefits to individuals and communities. This places financial inclusion beyond simply increasing the number of people using financial accounts and highlights the importance of meaningful access to useful financial services.
The continued reliance on cash remains another challenge for the expansion of digital financial services. Encouraging greater adoption of digital payments and other technology-enabled financial services could help reduce dependence on cash while creating wider opportunities for individuals and businesses to participate in formal financial activity. The Future of Finance Summit 2026 provided a platform for discussion among stakeholders from across Pakistan’s financial and business sectors. The event brought together policymakers, professionals, investors and corporate leaders at a time when technology is increasingly influencing the way financial services are delivered and accessed.
The summit also featured remarks by Advisor to the Finance Minister Khurram Schehzad, who discussed sustainability and the role of sustainable practices in Pakistan’s broader economic transition. His address also covered the importance of private sector-led growth in the country’s economic development. The discussions at the summit highlighted the intersection of technology, financial access, sustainability and economic growth. For Pakistan, expanding financial inclusion will require continued attention to financial literacy and greater use of existing digital platforms and payment infrastructure, particularly in areas where access to conventional financial services remains limited.
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