Financial Inclusion

 Financial Literacy & Capacity Building

Pakistan has a population that is in excess of 180 million people. However, penetration in the financial sector is extremely low, with only 2.4% of the population having access to credit from formal financial sources. Out of the total adult population of Pakistan, the financially excluded population make up 53%. One of the major reasons for why large portion of population is unbanked is the lack of awareness of financial products and their usage. A large portion of population also lacks basic money and financial management skill. The concepts of budgeting, investing savings etc are novel for them.

National Financial Literacy Program

State Bank of Pakistan launched the Pakistan’s first ever Nationwide Financial Literacy Program (NFLP) on 20th January 2012 to promote financial inclusion through spreading financial education for inclusive economic growth and stability across the country. The Program intends to target middle income households and youth through building partnerships with education institutions in a phased manner. The program envisions educating around 0.5 million low income households in first phase.

The key objectives of the program are:
  • Imparting knowledge and understanding of, financial concepts, banking/financial products and services.

  • Develop skills and attitudes towards budgeting, savings, investment, debt management, financial negotiation, rights and obligations, etc.

  • Facilitate behavioral changes and practices to improve financial outcomes; including financial well being through increased savings, improved debt management, perceived financial stress or satisfaction  

More Details :

National Financial Literacy Program for Youth (NFLP-Y)

National Institute of Banking & Finance in collaboration with State Bank of Pakistan is implementing “National Financial Literacy Program for Youth” (NFLP-Y) to impart essential financial education to Pakistani youth and school going children for strengthening of their money management skills and enhance their understanding of financial matters. The program is targeting three age groups (School going Children: age 9-12 years; Adolescent: age 13-17 years; Youth: age 18-29 years) across 45 selected districts of Pakistan including GB & AJK. NIBAF (NFLP-Y) aims at reaching out to 1.6 million children, adolescents and youth through classroom trainings including 0.6 million on digital learning platform during five years i.e. 2018 - 2023.

Key objectives of the program are:

  • Strengthen and improve money management knowledge, skills and behaviors among youth.

  • Inspire the youth to set financial goals through saving, budgeting and planning for their future.

  • Educate the youth about their rights and responsibilities as consumers of financial services and products.

More Details :

Supply Side Statistics

December, 2019
 Number of
 Banks & DFIs

 Number of
 BB Agents
 Total No. of
 Source: SBP

Demand Side Statistics
Percentage of Adult population:
A. Banked
B. Other formal
Formally Served (A+B)
23% 12%
C. Informally Served
Financially Served (A+B+C)
47% 44%
Financially Excluded
53% 56%
 Source: Access to Finance  Survey, 2015

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