KARACHI: Women comprise nearly half of the population in Pakistan, while only 13.5% hold a bank account, compared to 53% in Bangladesh, 53% in Vietnam, and almost 90% in Sri Lanka. This gender gap is both alarming and glaring, as it is not just a matter of inequality but also a missed opportunity for economic growth. Research indicates that although the overall usage of digital platforms has increased, the inclusion of women, the less educated, and the elderly remains low, and a lot of work is needed to improve infrastructural and other issues for easy access. With technological advancement and joint initiatives by the State Bank of Pakistan, financial institutions, and other stakeholders, overall financial inclusion has improved in the country-rising from 7% in 2014 to 35% in 2024. The gender gap, however, persists, with only 14% of women accessing formal or digital financial services, versus 56% of men. The use of mobile wallets still hovers around 11% for women as compared to almost 48% for men. Despite extensive national campaigns, growing smartphone access, and financial literacy initiatives, women continue to encounter technological, cultural, and institutional barriers that hinder their full participation in the digital revolution.
Recent research by Dr. Subeika Rizvi also shows that digital financial literacy is imperative for the integration of women in the financial sector. Women who are comfortable with mobile wallets, online transfers, and branchless banking are more confident in saving, investing, and making independent financial decisions. In her PhD thesis on Financial Literacy and Financial Inclusion among Women Entrepreneurs in Pakistan, Dr. Rizvi underscores the need to leverage existing digital platforms like EasyPaisa and JazzCash, which can only be done by providing women with the necessary basic digital financial literacy. It is not enough for women to have accounts-they must feel empowered to transact, save, and plan their financial futures confidently. Moreover, Dr. Rizvi also stresses the need to embed digital financial literacy into the curriculum of schools, colleges, and universities.
By combining Dr. Rizvi’s research insights with innovative digital learning platforms, Pakistan can create a more supportive ecosystem for women entrepreneurs. “Women who are digitally and financially empowered contribute not only to household welfare but also to entrepreneurship, innovation, and long-term economic resilience,” states Dr. Rizvi. Pakistan cannot afford to abandon more than half of its population, and by empowering women, it will not only unlock unprecedented growth but also strengthen financial resilience in the economy. The future of financial inclusion in Pakistan is not just digital-it must also be inclusive, equitable, and woman-led.
