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Activities
of the FIP are designed to target three layers of the financial
sector including macro, meso and micro, as illustrated in
Figure:
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At
the macro level SBP will set the financial
inclusion agenda including sector wide strategies, policies,
and monitoring mechanisms to ensure progress.
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Sectoral interventions at the meso level
will articulate the broad strategy through specific action
plans and their implementation. Financial innovations
will equip meso level institutions to: a) exploit technological
advances in remote access to increase outreach; b) develop
accessible finance products that are appropriately priced
and structured for the target market, including remittances
and Islamic finance products; and c) improve access to
finance through enhanced meso level infrastructure.
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Concurrently, the micro level will be
supported by improving delivery mechanisms of supply side
institutions that provide accessible finance. Meso level
interventions will support capacity building restructuring
of selected major players into sustainable finance providers.
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Micro level includes improving financial literacy and
communication channels between stakeholders both at national
and regional levels
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