Karachi: The State Bank of Pakistan (SBP) on Thursday (September 16) announced formulating a ‘Banking on Equality’ policy to reduce the gender gap in the banking sector, according to news sources. It was reported that President Dr Arif Alvi will launch the women-friendly policy of SBP today (September 17).
As per the details, Banking on Equality is a flagship policy of SBP that will transform the banking sector through adopting women-friendly business practices and policies. The policy has an extensive theme of improving the access of women to financial services. Through this policy, SBP aims to bring gender diversity in financial institutions and motivate women to access formal financial services.
Under this policy, SBP has specified certain key points. One of the important points of the policy is to provide women-centric products that will cater to the financial needs of women while increasing financial literacy. It will also help in creating awareness about women-centric products.
Moreover, specialised resources and women champions will be available at all customer touchpoints to provide an enhanced customer experience. Another point of the policy is collecting gender-disaggregated data, setting the target for informed policy interventions, and post-launch monitoring and evaluation.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
