SBP Plans Major Push for Financial Literacy in Pakistan by FY2028

The State Bank of Pakistan (SBP) has announced an ambitious plan to strengthen financial literacy in Pakistan by reaching 10 million people by the close of FY2028. This was shared by Managing Director SBP BSC, Mr. Maraj Mahmood, who stressed the central bank’s dedication to increasing youth engagement in the national financial system.

To move toward this goal, SBP BSC is preparing to reach 1.2 million individuals during FY2026. Mahmood added that the institution has already connected with 3.4 million people through its current efforts. He noted that the collaboration with Teach the World Foundation (TWF) is aligned with SBP’s strategy to expand financial literacy in Pakistan, particularly for segments that face structural hurdles in accessing financial services.

SBP BSC and TWF have officially signed a Memorandum of Understanding (MoU) aimed at promoting financial education and strengthening inclusive financial practices across the country. A core focus of this agreement is to extend financial knowledge and access to differently abled individuals and underserved communities.

The signing ceremony was held at SBP BSC Karachi, attended by Managing Director SBP BSC, Mr. Maraj Mahmood, and President TWF, Mr. Arshad Anis. The partnership highlights the commitment of both organizations to widen financial access for those belonging to marginalized social groups.

SBP Deputy Governor’s Remarks on Financial Literacy

Deputy Governor SBP, Mr. Saleemullah, was also present and emphasized the value of the partnership, noting the potential for further cooperation between SBP and TWF. He pointed out that the initiative will support digital financial literacy and help reach out-of-school children. He reaffirmed SBP’s mission of ensuring that all citizens can access financial services through focused programs and strategic alliances.

TWF President Mr. Arshad Anis highlighted the importance of building inclusive financial systems that empower underserved communities. He stated that improved access to finance strengthens resilience and contributes to sustainable development across Pakistan.

Under the MoU, both organizations will collaborate on outreach programs, awareness campaigns, and joint initiatives targeted at underserved groups. The agreement also covers sharing expertise, resources, and best practices, along with developing and implementing new financial literacy projects. Regular evaluation and reporting will be carried out to assess progress and impact.