SBP deputy governor explains how digital payments, financial services can transform women’s lives

KARACHI: UN Women-Pakistan, in collaboration with the State Bank of Pakistan and partner UN agencies, marked the global 16 Days of activism against gender-based violence with a high-profile event here on Thursday, with theme “Financial and Digital Inclusion as a Pathway to Safer Economies.”

It emphasized the urgency of strengthening women’s access to safe digital finance and technology-enabled empowerment at a time when digital violence continues to rise across Pakistan.

The series of programmes spread over 16 days of activism concluded with an interactive session with rural women of Sindh and showcasing of their innovative work.

Speakers representing UN bodies, SBP, NGOs, Sindh government and legal aid organisations highlighted the activities, reforms and legislation done so far for the safety of women and their economic empowerment through financial inclusion and maximum participation in all walks of life.

UN Women Goodwill Ambassador Hania Aamir called for reshaping online behaviour and challenging harmful norms, so women can work, learn and express themselves without fear, adding that empowerment must be matched with safety – both online and offline.

The event brought together senior government representatives, financial and corporate sector leaders, women entrepreneurs, UN officials, civil society partners and youth advocates, reaffirming a shared commitment to expanding inclusive digital and financial ecosystems for women and girls.

Delivering welcome remarks, Christine Arab, UN Women Regional Director, said: “financial and digital access are fundamental rights. When we create systems that protect women’s privacy, safety and economic agency, we not only strengthen families, but strengthen economies.”

Today, we have gathered to reaffirm our collective responsibility to make digital and financial spaces safer, fairer and more equitable for women and girls.

The day began with a Digital Innovation Showcase featuring women entrepreneurs from Sukkur and Khairpur highlighting how they are using technology to grow their livelihoods, strengthen communities and navigate digital environments more safely.

Representing the financial sector, Deputy Governor of the State Bank of Pakistan Saleem Ullah emphasized that digital payments and financial services can transform women’s lives only when trust and security are guaranteed.

He reiterated the State Bank’s commitment to promoting safe, inclusive and gender-responsive financial systems that strengthen women’s participation in Pakistan’s digital economy.

He informed that the Central Bank had recently celebrated the women entrepreneurs day.

He said 16-day activism drive provided opportunity to speak of financial institutions role in women economic empowerment and safety. Through collaboration and collective efforts, we can easily achieve this big task of women empowerment.

“Thanks to UN for playing dynamic role for women empowerment.“

He said that over last two decades, there was significant increase of women partnership in many fields , including banks and corporate sector. Since last four years, with induction of 15600 women in banks, it made 42 percent of total induction. There are women champions in many banks.

Till date, he mentioned, 48 percent women have no bank account. SBP has set target of reducing this ratio to 32 percent by 2028.

“No economic prosperity without empowered women.”

Dr Shamshad Akhtar, Chairperson of the Pakistan Stock Exchange and former Governor SBP and former federal finance minister, highlighted the need for women’s increased representation across financial markets and institutions, noting that Pakistan’s economic progress becomes stronger and more sustainable when women’s financial voices are enabled and protected.

She shared here work for the financial inclusion and economic empowerment of women as Vice President of World Bank for Middle East and Africa region, also when she was Secretary General for Women Empowerment in G-20 forum. There was big talk of the women empowerment that women faced many challenges.

Dr. Shamshad claimed that she was one of founders of SGD for women empowerment.

She recommended for financial inclusive economic policies an strategies. Through skill development, women should be duly included in the work force. There are 52.6 percent women in Pakistan, however their participation in economic activities is only 22 percent. Through collective efforts—- social organizations, financial institutions and government agencies – should ensure,” no woman is left behind.” Only equal society does guarantee sustainable economic development.

She called for inclusive and sustained opportunities for every one. “ Women neglect is the serious human rights violations.”

Addressing the gathering as Chief Guest, Ali Rashid, Special Assistant to the Chief Minister of Sindh on Science and Information Technology, reaffirmed: “Sindh is fully committed to advancing digital literacy, strengthening cyber-security and promoting inclusive policies that ensure women can participate safely and confidently in digital spaces. “

Secure digital ecosystems are not just a necessity, but they are the foundation of a prosperous future for Sindh and for Pakistan.

Jamshed Kazi, Country Representative, UN Women Pakistan, emphasized the importance of coordinated action to embed safety into every financial platform, digital service and government system. That, collective efforts across government, financial institutions, technology sectors, civil society and communities can ensure women engage in the digital world with confidence and dignity.

Participants proceeded to the Digital Commitment Wall, signing pledges to promote safer digital spaces for women and girls across Pakistan.

The ceremony concluded with the Orange Sky Moment, as a youth drum circle led the chant “Aurat per tashaddud ka koi jawaz nahi,” followed by the release of biodegradable orange balloons symbolizing hope, unity and a nationwide commitment to ending all forms of gender-based violence.

Guests later toured the State Bank Museum and joined a networking high tea.

As part of the nationwide 16 Days of Activism campaign, the Karachi event followed engagements in Lahore, Quetta, Peshawar and Islamabad, jointly organized by UN Women, UNICEF, UNFPA, UNHCR, and partners, in collaboration with provincial governments and civil society.

The 2025 campaign highlights the urgent need to end digital violence – one of the fastest-growing forms of abuse worldwide – and to create safe, inclusive and empowering digital and financial spaces for all women and girls.

Copyright Business Recorder, 2025