Pakistan’s Financial Inclusion Index increased to 59.5 in 2025 from 58.1 in 2024, reflecting further progress in access to and use of formal financial services across the country. The latest results released by the State Bank of Pakistan show that the country’s financial inclusion position improved during the year, with the overall increase supported primarily by stronger performance in the Usage sub-index. The Access and Quality sub-indices also recorded improvements, indicating progress across multiple dimensions of the financial system rather than in usage alone.
The Pakistan Financial Inclusion Index, or P-FII, provides a broader measure of developments in the country’s financial services landscape by assessing access, usage and quality. The increase from 58.1 in 2024 to 59.5 in 2025 indicates that more people and businesses are engaging with formal financial channels and that the financial system is expanding its reach. The stronger performance in the Usage sub-index was the main contributor to the overall improvement, highlighting the growing role of financial services after customers gain access to them.
Digital financial services were among the key factors supporting the improvement in financial inclusion during 2025. The rollout of digital initiatives under the National Financial Inclusion Strategy 2024–28 contributed to the wider use of formal payment and banking services. The expansion of the digital payments ecosystem, along with initiatives designed to bring more merchants into digital payment networks, helped increase the practical use of financial services. Merchant onboarding on Raast was identified as one of the contributors to the improvement in the index.
The arrival and expansion of digital banks also formed part of the developments supporting Pakistan’s financial inclusion progress. Digital banking services provide additional channels through which customers can open and use accounts and access financial products without relying exclusively on conventional branch-based banking. Alongside the growth of digital banks, account-opening campaigns contributed to bringing more individuals into the formal financial system. These initiatives have supported the broader shift toward digitally enabled financial services in Pakistan.
The improvement was not limited to the Usage component, as the Access and Quality sub-indices also posted gains during the year. Better access remains an important part of financial inclusion because the availability of accounts, payment channels and other financial services provides the foundation for increased participation in the formal financial system. Improvements in quality are similarly relevant as financial inclusion depends not only on whether services are available, but also on how effectively those services meet the needs of consumers.
Consumer-focused initiatives and financial literacy efforts also contributed to the progress recorded in the latest index. Greater awareness of financial products and services can help consumers make more effective use of formal financial channels once those services become available. Financial literacy efforts, combined with digital access and account-opening initiatives, can therefore support a transition from basic access toward more regular use of formal financial services.
The results also point to the increasing importance of digital payment infrastructure in Pakistan’s financial inclusion efforts. Raast and the wider payments ecosystem have become important components of the country’s efforts to expand digital transactions and connect consumers and merchants with formal payment channels. The continued onboarding of merchants and expansion of digital banking options are helping create more points of interaction between consumers, businesses and the financial system.
The rise in the P-FII to 59.5 in 2025 comes as Pakistan continues implementing the National Financial Inclusion Strategy 2024–28. The latest results indicate that initiatives under the strategy are contributing to improvements in financial service usage while access and quality are also moving upward. Continued expansion of digital financial services, merchant participation, account opening and financial literacy will remain important to sustaining progress in financial inclusion as the strategy moves forward.
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