Wednesday, August 10, 2022

President to unveil SBP’s initiative to reduce gender gap in financial inclusion

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KARACHI: President Dr Arif Alvi will unveil the State Bank of Pakistan (SBP) flagship initiative Banking on Equality Policy on Friday (tomorrow), ARY News reported on Thursday.

President Alvi will launch the SBP’s Banking on Equality Policy on Friday at 11:00 am.

The central bank will be launching its policy initiative for reducing the gender gap in financial inclusion.

It read, “The policy has an overarching theme of improving women’s access to financial services and specifies the following key pillars:

  • Gender diversity in financial institutions and access points to encourage women towards formal financial services.
  • Women-centric products that cater to women‘s financial needs specifically while increasing financial literacy and awareness about women-centric product offerings.
  • Women’s champions and specialized resources at all customer touchpoints for a better customer experience.
  • Robust collection of gender-disaggregated data and target setting for informed policy interventions and post-launch monitoring & evaluation.
  • Policy forum on gender and finance to prioritize women’s financial inclusion, drive the agenda forward, and increase buy-in from multiple stakeholders for added momentum.
  • The Policy has been developed after having extensive consultation with relevant stakeholders including domestic as well as international institutions, thought leaders and gender experts.

According to the media statement, the policy with its tag line ‘Mali Shamooliat – Sinifi Imtiaz key Bagher’ aims to transform the banking sector in the adoption of women-friendly business policies and practices.

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