Islamabad: The State Bank of Pakistan (SBP) has urged banks to expand their use of artificial intelligence (AI) and alternative data sources to improve financial access for small and medium enterprises (SMEs), the agricultural sector, and women.
Speaking at the Pakistan Banking Summit 2025, SBP Governor Jameel Ahmad emphasized the need for AI-driven solutions to enhance financial inclusion. He highlighted that banks should leverage cellular and satellite data to create cost-effective delivery channels, enabling wider access to financial services.
“Our banks need to rethink their current business models, reassess priorities, and play a more active role in financial intermediation,” Ahmad stated. He stressed that the country’s economic growth depends on deeper financial penetration, noting that 74% of bank lending is directed toward large corporations, while SMEs receive only 5%.
Ahmad also called on financial institutions to help businesses digitize their payments by providing secure digital transaction platforms. He reiterated SBP’s Strategic Vision 2028, which focuses on financial inclusion, digital banking expansion, and ensuring the stability of the financial system.
The SBP governor highlighted Pakistan’s progress in financial inclusion, with bank account coverage increasing to 64% of the adult population, up from 47% in 2018. He stated that under the latest National Financial Inclusion Strategy (NFIS) 2024-2028, the central bank aims to raise this figure to 75% while reducing the gender gap in banking access from 34% to 25% by 2028.
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To meet these targets, Ahmad urged banks to mobilize more deposits, increase credit for SMEs and agriculture, and integrate AI-driven risk assessments to improve financial accessibility.
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