Governor of the State Bank of Pakistan (SBP) Jameel Ahmad has said that women entrepreneurs play a vital role in promoting inclusive and sustainable economic growth in developing countries.
He was speaking at a session titled “Capital for Growth: Women Entrepreneurs as Job Creators” held at the World Bank Headquarters in Washington, D.C., during the 2025 Annual Meetings of the World Bank Group.
The event brought together policymakers, women entrepreneurs, and financial industry leaders to discuss how investments and bold structural reforms can enhance women’s economic participation and employment opportunities.
Governor Ahmad highlighted Pakistan’s forward-looking policy reforms aimed at empowering women entrepreneurs and promoting gender-inclusive economic growth.
He said the SBP’s flagship policy, “Banking on Equality,” introduced in September 2021, serves as Pakistan’s first comprehensive framework to bring women into the mainstream financial sector and has played a key role in narrowing the gender gap in financial inclusion.
Since the policy’s launch, the number of active women bank accounts has increased from 20 million to 37 million by June 2025, while the gender gap in financial inclusion has dropped from 39% to 30%, he noted.
Ahmad added that lending to women has significantly expanded, with the number of female microfinance borrowers rising by 200%. During the same period, women’s SME and agricultural loan portfolios have also doubled.
He said these measures not only improve women’s access to credit but also enhance job creation and institutional diversity. Over the past three years, banks have hired more than 14,600 women, reflecting progress in gender inclusion within the financial workforce.
The SBP governor shared that the central bank is finalizing the second phase of “Banking on Equality,” which will focus on digital solutions, business incubation, and remote financing to further support women-led micro, small, and medium enterprises.
Reaffirming Pakistan’s commitment to gender equality and women’s entrepreneurship, Ahmad underscored the country’s alignment with the World Bank’s “WeFinance Code” — a global initiative to reduce gender gaps in access to finance for MSMEs.
He said the SBP, along with 22 banks, has joined the WeFinance Code to establish a national coalition for women’s financial inclusion. This step, he added, will help improve gender-disaggregated data, address credit gaps for women entrepreneurs, and encourage banks to design targeted, gender-responsive lending products.
Governor Ahmad emphasized the need to sustain gender-focused national strategies, create a supportive industrial environment for women, and invest in their capacity building. He reiterated SBP’s commitment to advancing women’s inclusion in the financial mainstream and strengthening their role in sustainable economic development.
