Economic inclusion of women is essential for development, says State Bank Governor Jamil Ahmed

Addressing the World Bank, State Bank of Pakistan Governor Jamil Ahmed said that the role of women is key in the economic development of developing countries and the economic empowerment of women in Pakistan is the top priority of the State Bank.

He said that initiatives like “Banking for Equality” have played a significant role in reducing the gender gap in financial inclusion. As a result of these efforts, the number of active bank accounts of women across the country has reached 37 million.

Jamil Ahmed added that in the last five years, the rate of lending to women by microfinance banks has increased by 200 per cent, while the portfolios of women’s small and medium enterprises (SMEs) and agricultural loans have also seen a significant expansion.

He revealed that in the last three years, more than 14,600 women have joined the workforce of banks, which is a sign of the growing role of women in the financial sector. The Governor said that the State Bank is continuing to work on creating more facilities and opportunities for women.