KARACHI:

The State Bank of Pakistan (SBP) has launched Pakistan’s Financial Inclusion Index (P-FII), which comprehensively measures the state of financial inclusion in the country taking into account the access, usage and quality of financial services. The P-FII results show that the overall financial inclusion level stands at 58.1 for 2024.

Under the SBP Act 1956, improving financial inclusion is one of its key mandates and objectives. To achieve this aim, the central bank is implementing the National Financial Inclusion Strategy – NFIS 2024-28 – to expand access to financial services across the country and improve their use and quality, said a statement issued by the SBP on Wednesday.

“As outlined in the strategy, the development of P-FII reflects the SBP’s commitment to ensuring informed and evidence-based policymaking,” it said. The P-FII provides a comprehensive assessment of financial inclusion levels on the basis of 69 indicators reflecting banking, non-banking and payment services provided by banks and financial institutions.