The State Bank of Pakistan (SBP) has introduced a new policy to increase women’s access to banking, digital payments, and business financing as part of efforts to reduce the gender gap in financial inclusion.

The second edition of the Banking on Equality Policy sets targets for banks to bring more women into the financial system, increase female employment, and expand lending to women-owned businesses.

Under the 2026 policy, banks are encouraged to offer simpler digital accounts for women, promote electronic payments for female entrepreneurs, and develop financing options for businesses led by women. Banks are also encouraged to consider alternative methods of assessing borrowers who lack formal credit records or traditional collateral.

The policy also focuses on women’s employment in the banking sector. Banks will set targets for hiring women, expanding their customer base among female clients, and increasing women’s representation among branchless banking agents.

Other measures include daycare facilities for working mothers and career development plans to help women advance into senior positions.

The new policy follows progress under the first Banking on Equality initiative, launched in 2021. Pakistan’s gender gap in financial inclusion declined from 39 percent in 2021 to 29 percent in 2025.

During the same period, banks hired more than 17,500 women, while women’s share of the banking workforce rose from 13 percent to 17 percent. Banks also established dedicated teams to develop services and products for female customers.

SBP will track progress through quarterly reporting, regular assessments, and mystery shopping exercises.

The policy supports the National Financial Inclusion Strategy’s goal of bringing the gender gap in financial inclusion down to 25 percent by 2028. It also seeks to improve women’s financial literacy and encourage more women to start and expand businesses.

SBP said the policy was developed after consultations with local and international stakeholders.