Governor State Bank of Pakistan (SBP) Jameel Ahmad emphasized the critical role of women entrepreneurs in promoting inclusive and sustainable economic growth. Speaking at a high-level session titled “Capital to Scale: Women Entrepreneurs as Job Creators” during the 2025 World Bank Annual Meetings in Washington D.C., he underlined the transformative impact of women-led enterprises in driving long-term development.
The session brought together policymakers, business leaders, and women entrepreneurs to explore how catalytic capital and structural reforms can strengthen women’s participation in the economy.
Pakistan’s Progress in Women’s Financial Inclusion
Governor Ahmad shed light on Pakistan’s forward-looking policy reforms aimed at closing gender gaps in finance and fostering inclusive growth. He highlighted the SBP’s flagship initiative, Banking on Equality, which remains the country’s first comprehensive gender-mainstreaming framework in the financial sector.
Since its launch in September 2021, the number of active bank accounts held by women has grown from 20 million to 37 million as of June 2025. During the same period, the gender gap in financial inclusion dropped significantly, from 39 percent to 30 percent.
Moreover, financing for women has surged, with female borrowers in microfinance banks increasing by over 200 percent. Women-led small and medium enterprise (SME) and agricultural financing portfolios have also doubled. These numbers reflect a growing shift toward inclusive financial access and gender-responsive lending.
Expanding Opportunities for Women in the Workforce
Beyond access to finance, Governor Ahmad highlighted that Pakistan’s banking institutions have made significant strides in women’s employment. Over the past three years, banks have inducted more than 14,600 women into their workforce. This step has promoted diversity and contributed to broader economic resilience by integrating women at all levels of financial institutions.
He noted that such progress not only supports financial inclusion but also enhances innovation, productivity, and job creation.
Next Phase: Digital Inclusion and Smart Financing
Governor Ahmad announced that the SBP is finalizing the second phase of the Banking on Equality policy. This new phase will integrate digital banking solutions, remote financing channels, and business profiling tools. The aim is to empower women-led micro, small, and medium enterprises (MSMEs) with easier access to digital financial services.
By leveraging technology, the SBP seeks to eliminate geographical barriers and create scalable opportunities for women entrepreneurs, especially those in rural and underserved areas.
Commitment to Global Gender Finance Initiatives
Reaffirming Pakistan’s dedication to gender equality, the SBP Governor highlighted the central bank’s adoption of the WE-Finance Code. This initiative, developed by the World Bank in collaboration with global financial institutions and partner countries, focuses on narrowing gender gaps in MSME financing.
The SBP, along with 22 banks, has officially committed to the Code. This unified coalition will help address gender-disaggregated data limitations and design financing products tailored to women’s unique business needs.
Advancing Gender-Positive Economic Policies
Governor Ahmad stressed the importance of consistent, gender-positive national strategies to sustain progress. He called for the creation of women-friendly industry environments and capacity-building programs that equip women with business and leadership skills.
He reiterated SBP’s unwavering resolve to design and implement gender-mainstreaming policies that promote women’s economic participation. These efforts are seen as vital to achieving Pakistan’s long-term sustainable growth goals.
Towards a Gender-Inclusive Future
Governor Ahmad’s remarks underscore that empowering women entrepreneurs is not just a social imperative but an economic necessity. By ensuring equitable access to finance, digital tools, and institutional support, Pakistan can unlock the full potential of its women-led enterprises — a cornerstone for sustainable and inclusive development.
