Financial literacy & inclusion: SBP BSC and TWF join hands

KARACHI: The State Bank of Pakistan Banking Services Corporation (SBP BSC) and Teach the World Foundation (TWF) have signed a Memorandum of Understanding (MoU) for enhancing financial literacy and promoting inclusive financial practices across Pakistan.

The collaboration places a strong emphasis on extending financial inclusion to differently abled and underserved communities.

The signing ceremony took place at SBP BSC Karachi in the presence of Managing Director SBP BSC, Meraj Mahmood and President TWF, Arshad Anis. The partnership underscores the shared commitment of both organizations to create an enabling environment for promotion of financial inclusion among people from underserved social strata.

Deputy Governor Saleemullah graced the occasion and highlighted the significance of the partnership and potential of future collaboration between SBP and TWF, particularly in advancing digital financial literacy and reaching out-of-school children. He reiterated SBP’s vision of ensuring access to financial services to all segments of society through targeted initiatives and strategic partnerships.

Speaking on the occasion, Meraj Mahmood reaffirmed the SBP’s commitment to advancing youth participation in the financial system. He shared SBP’s vision to impart Financial Literacy to 10 million beneficiaries at the end of FY 2028. To achieve this milestone, SBP BSC aims to engage 1.2 million people during FY26.

He noted that at present 3.4 million individuals have already been reached. The collaboration with TWF reflects the SBP’s vision to expand financial literacy and access to finance for special segments. He emphasized the need to address structural barriers and innovative solutions for promoting financial literacy and inclusion throughout the country.

Arshad Anis underscored the importance of inclusive financial systems in enabling access to finance and promoting financial literacy among underserved segments of the society. He highlighted, “Financial inclusion is a key to unlocking the potential of skilled citizens in Pakistan. Through this partnership with the SBP BSC, we have created pathways for financially underserved social segments of Pakistan, build resilience, and contribute to sustainable economic growth.”

The MoU outlines key areas of cooperation, including the organization of Joint outreach and awareness initiatives targeting underserved segments of society, the sharing of expertise, resources and best practices to promote financial inclusion, as well as the collaborative development and implementation of financial literacy programs. It also includes the periodic review and reporting of outcomes and impact.

This may please be noted that the MoU does not create legally binding obligations; it provides a framework for collaboration, enabling both organizations to leverage their expertise, networks, and resources to drive meaningful and lasting impact for the betterment of Pakistan.

Copyright Business Recorder, 2025