The State Bank of Pakistan (SBP) has unveiled an ambitious plan to educate 10 million Pakistanis in financial literacy by the end of FY2028, marking a significant milestone in its mission to promote inclusive finance and empower underserved communities. The initiative underscores SBP’s growing focus on expanding digital financial education and improving access to banking services for all citizens, especially youth, differently abled individuals, and marginalized groups.
The announcement was made by Managing Director of SBP Banking Services Corporation (SBP BSC), Maraj Mahmood, who highlighted the central bank’s commitment to broadening financial awareness nationwide. He revealed that SBP has already reached 3.4 million individuals and aims to engage an additional 1.2 million people during FY2026. The ultimate goal, he said, is to empower citizens with the knowledge and tools needed to make informed financial decisions, contributing to a more resilient and inclusive financial ecosystem.
In a major development supporting this vision, SBP BSC and Teach the World Foundation (TWF) signed a Memorandum of Understanding (MoU) to advance financial literacy and inclusion across Pakistan. The agreement focuses on integrating digital financial education tools and creating opportunities for those traditionally excluded from the formal banking system. The collaboration will place particular emphasis on reaching out to differently abled persons and communities in remote or underserved regions.
The MoU signing ceremony, held at SBP BSC Karachi, was attended by senior officials, including SBP Deputy Governor Saleemullah, SBP BSC Managing Director Maraj Mahmood, and TWF President Arshad Anis. The partnership reflects the shared vision of both institutions to foster equitable financial access and use digital education as a catalyst for inclusion and empowerment.
Deputy Governor Saleemullah highlighted the critical importance of digital financial literacy in the modern economy, especially in bridging the knowledge gap among out-of-school children and unbanked populations. He emphasized that the SBP’s long-term vision involves building a financial system that serves all citizens equally—by leveraging technology, partnerships, and innovation. He stated that such initiatives will play a pivotal role in achieving the country’s broader financial inclusion goals, especially as Pakistan continues to digitize its payment infrastructure and banking services.
Speaking at the event, TWF President Arshad Anis stressed the transformative power of financial inclusion in unlocking human potential. “Financial inclusion is key to empowering skilled individuals and fostering economic resilience,” he said. “Through our partnership with SBP BSC, we aim to create accessible learning pathways that build financial awareness and promote sustainable economic growth.”
The MoU outlines several collaborative actions, including the joint organization of outreach programs, development of financial education curricula, and implementation of innovative literacy campaigns. Both organizations also committed to sharing expertise, conducting periodic progress reviews, and measuring the long-term impact of their joint initiatives on financial inclusion and digital awareness.
This initiative aligns with SBP’s broader strategy to integrate financial education into national development efforts, bridging the gap between financial institutions and underserved communities. By focusing on digital learning tools, SBP aims to make financial education more engaging and accessible, particularly for younger audiences who represent the future of Pakistan’s digital economy.
The central bank’s vision goes beyond traditional financial awareness—it aims to build a culture of financial empowerment, where individuals understand how to save, invest, and manage credit responsibly. With 10 million Pakistanis expected to benefit by 2028, this initiative represents one of the most extensive financial literacy programs in the country’s history.
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