In a groundbreaking initiative set to transform how young Pakistanis understand money, the National Institute of Banking and Finance (NIBAF) Pakistan, in partnership with Karandaaz Pakistan, Punjab Education Foundation (PEF), and the Bank of Punjab (BoP), has launched a large-scale financial literacy program targeting school students across Punjab. The program, announced at a signing ceremony in Lahore attended by prominent officials from the education and banking sectors, will introduce core concepts of earning, saving, budgeting, financial planning, inflation, and digital banking to over 100,000 students during its pilot phase.
Under this ambitious plan, financial literacy sessions will be rolled out in 1,000 PEF schools, aiming to make young minds better prepared to navigate personal finances and the growing digital economy. This move aligns with Pakistan’s broader strategy to integrate financial education into the national curriculum, as outlined in the National Financial Education Roadmap (2025–2029) spearheaded by the State Bank of Pakistan.
NIBAF will play a pivotal role by leading the training of PEF Master Trainers and nearly 2,000 teachers who will be equipped to conduct engaging weekly sessions on various aspects of financial management. This hands-on approach seeks to embed financial concepts in the daily learning journey of students, fostering habits and skills that will support them throughout their lives.
Speaking at the signing event were several key figures including Ms. Lubna Malik, Co-CEO of NIBAF Pakistan, Mr. Sharjeel Murtaza, Chief Digital Officer at Karandaaz Pakistan, and Mr. Khalid Nazir Wattoo, Secretary of the School Education Department, Government of Punjab. The ceremony was also attended by Malik Shoaib Awan, Chairman of Punjab Education Foundation, Mr. Shahid Farid, Managing Director of PEF, Mr. Shakeel Ahmad, Member of the Chief Minister’s Advisory Committee on Education, and Mr. Raza Bashir, Chief of Staff & Strategy, Group Head at The Bank of Punjab.
This project is not entirely new ground for NIBAF. It builds on a successful model previously executed in Islamabad in collaboration with the Ministry of Federal Education and Professional Training and the Federal Directorate of Education, which laid the foundation for introducing structured financial literacy into Pakistan’s educational framework.
By driving this initiative forward in Punjab, the collaboration not only helps prepare the next generation for real-world financial challenges but also contributes to key Sustainable Development Goals (SDGs). It directly supports SDG 4 on quality education, SDG 8 on promoting decent work and economic growth, and SDG 10 on reducing inequalities, by ensuring that students from diverse backgrounds gain access to critical financial knowledge.
Through this combined effort, NIBAF, Karandaaz, PEF, and BoP are working to empower Pakistan’s youth with practical financial skills, laying the groundwork for a more informed, economically resilient society. It marks a significant step in nurturing future generations who can make smarter financial decisions, driving both personal prosperity and national economic growth.