Financial literacy remains a major barrier to expanding financial inclusion in Pakistan, according to State Bank of Pakistan (SBP) Deputy Governor Saleem Ullah. Speaking at the Future of Finance Summit 2026 in Karachi, he highlighted the need to increase public awareness and access to financial services while addressing the continued reliance on cash. The remarks came as policymakers and financial-sector stakeholders discussed the role of technology in expanding access to formal financial services across the country.
Saleem Ullah noted that limited use of financial services and digital devices continues to restrict financial inclusion, particularly among underserved segments of the population. He pointed to the country’s heavy dependence on cash as another challenge that needs to be addressed to encourage greater participation in formal financial channels. Improving financial literacy, he said, is essential to helping people understand and effectively use available financial products and services.
The SBP Deputy Governor emphasized that technology can play an important role in extending financial services to remote and underserved communities. He said the platforms and payment infrastructure required to reach these populations are already available, creating an opportunity to use digital channels to expand access. Wider adoption of digital financial services could help reduce geographical and accessibility barriers while connecting more people with formal financial institutions and payment systems.
He stressed that financial inclusion efforts should ultimately focus on improving people’s quality of life through broader access to financial services. This requires not only expanding digital infrastructure but also ensuring that people have the knowledge and confidence needed to use financial products effectively. Financial literacy and technology therefore remain closely connected to Pakistan’s efforts to increase participation in the formal financial system.
The remarks at the Future of Finance Summit highlight the continued focus on technology-led financial inclusion as Pakistan develops its digital financial ecosystem. With digital platforms and payment infrastructure increasingly available, greater adoption among underserved communities could help broaden access to financial services. The emphasis on financial literacy also points to the need for technology adoption to be accompanied by stronger consumer understanding and awareness.
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