Only 29% women hold bank accounts in Pakistan

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Only 29% women hold bank accounts in Pakistan

KARACHI – State Bank of Pakistan Governor Dr Reza Baqir has revealed that only 29 percent of women in Pakistan have a bank account.

Such a low number of accounts by women severely impedes economic development, according to the SBP chief, while it is necessary to promote equal access to financial and professional endeavors for both men and women.

“Improved gender parity in financial and economic opportunities can enhance socioeconomic development outcomes not just for the present but also for future generations,” Baqir said at an event held at SBP headquarters to commemorate International Women’s Day.

Meanwhile, the central bank is working on a policy to bridge the gap, called Banking on Equality, with the aim to allow equal financial access to both men and women.