SBP rolls out Banking on Equality Policy 2026

October 14, 2026 (MLN): State Bank of Pakistan (SBP) has launched the second edition of its Banking on Equality (BoE) Policy to further narrow the gender gap and advance women’s financial inclusion in the country.

The central bank said BoE 2026 reflects its commitment to building an environment in which women can realise their full potential and contribute to economic development.

Driven by digitalisation, entrepreneurship and access to finance, the policy seeks to bring the unbanked into the formal financial system.

SBP described women’s inclusion as essential for long-term economic prosperity and a key part of its Vision 2028, according to a press release issued by the bank.

The first BoE policy was the country’s first gender mainstreaming initiative of its kind, aimed at closing the widening gender gap in financial inclusion and making the banking industry friendlier to women.

Under it, the gender gap in financial inclusion narrowed to 29% in 2025 from 39% in 2021.

Banks inducted over 17,500 women during this period, lifting the share of women in their workforce to 17% from 13%.

Banks also set up dedicated women’s financial services departments or teams to develop products and services for women.

On the strength of this implementation since 2021, SBP recently won the Policy Achievement Award for Gender Inclusive Finance 2026 from the Alliance for Financial Inclusion (AFI).

BoE 2026 builds on this progress with stronger actions and targets in four areas:

1)   Strengthening women’s representation and retention in the financial sector

2)  Expanding women’s digital access to financial services

3)  Boosting women’s entrepreneurship and financial literacy through support hubs

4)  Making better use of gender-disaggregated data for monitoring and outreach

The policy sets targets for the share of women in hiring, customer outreach and branchless banking agents. It also advises banks to introduce day care facilities for working mothers and put in place career progression policies to move mid-career women into leadership roles.

To widen women’s access to financial services, the policy directs banks to digitalise access to accounts and payment services through targeted digital onboarding drives, simplified women-centric digital accounts, and the promotion of digital payments for women-led businesses.

To boost financing for women-owned and women-led micro, small and medium enterprises (MSMEs), the policy encourages banks to raise the share of women borrowers across key financing segments.

Its main features include a gender lens in credit planning, simplified and specialised financing products, the use of digital platforms and fintech partnerships, and alternate credit assessment and collateral mechanisms to better serve women with limited formal financial history.

It also aims to strengthen women’s entrepreneurship and financial literacy, offering a viable pathway into the financial system.

For smooth implementation, SBP will put in place a monitoring and evaluation framework, quarterly data reporting and regular mystery shopping exercises.

BoE 2026 was finalised after extensive consultations with international and local stakeholders.

It will support the National Financial Inclusion Strategy (NFIS) goal of bringing the gender gap down to 25% by 2028 and help implement the World Bank-led Women Entrepreneurship (WE) Finance Code initiative.

Through closer public-private collaboration, support for women’s entrepreneurship and targeted reforms, the policy aims to build a more inclusive financial ecosystem that advances women’s economic empowerment and broader national growth.

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