The National Institute of Banking and Finance (NIBAF) Pakistan, in collaboration with Aga Khan University (AKU), has conducted a specialized training session under its Banking Literacy Development Program aimed at enhancing financial awareness and promoting inclusive growth. The session, held on August 18, 2025, took place at the Aga Khan Council for Pakistan, Garden East, and was led by trainer Mr. Usman Butt.
The program was designed to build financial capacity at the community level, empowering individuals with essential knowledge and tools to better manage their financial resources. By addressing gaps in financial literacy, NIBAF seeks to strengthen the foundations of inclusive economic growth and sustainable development in Pakistan.
The training focused on equipping participants with practical understanding of core financial concepts, including savings, budgeting, responsible borrowing, and the importance of engaging with the formal banking sector. The initiative emphasized how financial literacy plays a critical role in improving individual decision-making and supporting broader national economic goals.
Stakeholders highlighted that despite progress in Pakistan’s financial sector, large segments of the population remain outside the formal banking system. Lack of awareness, limited access to banking services, and knowledge gaps continue to hinder efforts to achieve financial inclusion. Programs such as this are seen as vital in bridging these divides by educating communities and ensuring that individuals can make informed financial choices.
Trainer Mr. Usman Butt engaged participants in interactive discussions, using real-life examples to illustrate the importance of financial planning and sound money management. His session underscored the significance of financial literacy not only for personal empowerment but also for community resilience, as financially aware citizens are better positioned to contribute to sustainable economic development.
The collaboration with Aga Khan University and the involvement of the Aga Khan Council for Pakistan reflects a broader effort to integrate academic institutions and community organizations into financial education initiatives. By leveraging these networks, NIBAF aims to extend the reach of its literacy programs and build stronger partnerships for driving inclusion.
The Banking Literacy Development Program also ties into the national agenda of expanding access to financial services and promoting digital finance solutions. With rapid growth in fintech adoption and digital banking platforms in Pakistan, the importance of financial awareness has become even more pronounced. Educating individuals about how to responsibly use digital wallets, online banking, and mobile financial services is crucial to building trust in new technologies and ensuring safe participation in the financial ecosystem.
Observers note that strengthening financial literacy is increasingly being recognized as a long-term investment in Pakistan’s socio-economic progress. By focusing on grassroots education, initiatives like this create pathways for reducing poverty, fostering entrepreneurship, and enabling citizens to better navigate financial challenges.
The successful completion of the session highlights NIBAF’s commitment to advancing its mission of financial education, while setting the stage for further programs across the country. The Banking Literacy Development Program is expected to be expanded in the coming months to reach more communities and stakeholders, reinforcing the drive for inclusive financial growth.