The State Bank of Pakistan (SBP) has officially launched Pakistan’s Financial Inclusion Index (P-FII), a comprehensive measurement tool designed to assess the level of financial inclusion across the country by evaluating access to, usage of, and quality of financial services. The index provides a data-driven snapshot of how effectively Pakistan’s financial system is serving individuals and businesses, particularly those traditionally excluded from formal financial channels.
According to a press release issued by the central bank, the P-FII indicates that Pakistan’s overall financial inclusion level stood at 58.1 in 2024. This score reflects progress made in expanding financial services, especially through digital channels, while also highlighting areas that require further policy focus and institutional effort. Improving financial inclusion remains a core mandate of the SBP under the SBP Act, 1956, making the launch of the index a key milestone in advancing this objective.
The development of the P-FII aligns closely with the SBP’s National Financial Inclusion Strategy (NFIS) 2024–28, which aims to broaden access to financial services, enhance their usage, and improve service quality across the country. Through the strategy, the central bank is focusing on bringing underserved populations into the formal financial system, strengthening digital financial services, and promoting consumer protection and financial literacy.
The P-FII is built on a robust analytical framework comprising sixty-nine indicators that collectively reflect the breadth and depth of financial inclusion in Pakistan. These indicators cover banking, non-banking financial services, and payment systems offered by banks and other financial institutions. They assess factors such as financial sector infrastructure, the penetration and usage of financial products, and the overall quality and reliability of financial services available to users.
A distinguishing feature of the index is its alignment with international best practices. Each indicator has been benchmarked against a defined target value representing the outcomes the SBP aims to achieve by 2030. This approach enables policymakers to track progress over time, identify structural gaps, and design targeted interventions based on measurable outcomes rather than assumptions.
The SBP noted that the development of financial inclusion indices has become an emerging global trend among central banks, as such tools help evaluate the inclusivity, effectiveness, and outreach of financial systems. These indices also support cross-country comparisons and provide a standardized framework for monitoring financial sector development.
Work on the P-FII began in 2023, when the SBP initiated a detailed research study to review data parameters and methodologies used by other central banks and multilateral organizations in constructing similar indices. This research phase was followed by extensive consultations with domestic and international stakeholders, ensuring that the index reflects Pakistan’s unique financial landscape while remaining consistent with global standards.
By institutionalizing the P-FII, the SBP aims to strengthen evidence-based policymaking and enhance transparency in monitoring financial inclusion efforts. The central bank has stated that it plans to publish the results of the index on an annual basis, allowing stakeholders to track trends, measure policy impact, and align future initiatives with national inclusion goals.
Overall, the launch of the Pakistan Financial Inclusion Index represents a significant step toward building a more inclusive, efficient, and resilient financial system. By providing a clear and comprehensive measurement of financial inclusion, the index is expected to play a central role in shaping policies that support sustainable economic growth and broaden financial access across Pakistan.
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