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KARACHI, Aug 27 (APP): The State Bank of Pakistan, Banking Service Corporation (SBP BSC) and UN Women Pakistan, on Wednesday, signed a Memorandum of Understanding (MoU) to foster long-term cooperation aimed at enhancing financial inclusion, financial literacy, and access to finance, with a strong focus on promoting gender equality and women’s empowerment in Pakistan.
The MoU, signed in the presence of Managing Director SBP BSC Maraj Mahmood and Country Representative of UN Women Pakistan Jamshed Kazi, is aimed at capacity building, mass awareness and collaborative research for expanding financial services to the under-served by leveraging expertise, networks, and resources of the partners to drive meaningful and lasting impact.
The central bank, in a statement issued here, termed the partnership as affirmation of the shared commitment of both organizations to create an enabling environment for women’s economic participation, particularly through improved access to financial resources and knowledge.
UN Women Pakistan’s Jamshed Kazi, speaking at the ceremony, underscored the importance of inclusive financial systems in driving gender equality and highlighted that financial inclusion is key to unlocking the potential of women in Pakistan.
“Through this partnership with the SBP BSC, UN Women aim to create pathways for women to access financial services, build resilience, and contribute to sustainable economic growth”, he stated.
Maraj Mahmood emphasized SBP’s commitment to advancing women’s participation in the financial sector, noting that this collaboration with UN Women reflects the central bank’s vision to expand financial literacy and access to finance for under served groups, particularly women.
“Together with UN Women, the SBP BSC aims to address structural barriers and promote innovative solutions for inclusive economic development,” he vowed.
The UN Women is making efforts to advance women’s economic empowerment in alignment with the Beijing+30 review process and Pakistan’s national commitments to gender equality and this collaboration is their continuity.
The MoU outlines key areas of cooperation, including the organization of joint seminars and conferences, the delivery of capacity-building and awareness programs, and collaborative research to identify barriers to women’s financial inclusion.
It further aims to promote the wider adoption of digital financial services and expand access to finance in under served regions and social strata, thereby creating sustainable opportunities for women’s economic empowerment.
While the MoU does not create legally binding obligations, it provides a strong framework for partnership, enabling both organizations to leverage their expertise, networks, and resources to drive meaningful and lasting impact, the statement concluded.