Karachi, November 19, 2024 – The State Bank of Pakistan (SBP) underscored its dedication to enhancing women’s role in the economic landscape by hosting Women Entrepreneurship Day on November 19, 2024, in Karachi. The event brought together key stakeholders, including banks, civil society, international organizations, and successful women entrepreneurs, to promote inclusive financial participation.
In his keynote address, SBP Governor Jameel Ahmad highlighted the pressing need to support women entrepreneurs, who currently account for less than 10% of total borrowers and hold only 26% of bank accounts in Pakistan. He emphasized that women-owned businesses are vital for driving innovation, economic growth, and community development, yet they face persistent barriers such as limited access to finance, markets, and mentorship opportunities.
Despite these challenges, women in Pakistan have demonstrated resilience and success across various sectors, including agriculture, technology, and manufacturing. Mr. Ahmad commended their contributions and stressed the importance of fostering an environment where women entrepreneurs can thrive.
The Governor also praised banks for their efforts in disbursing PKR 24 billion in loans to over 20,000 women-led businesses between July 1 and November 10, 2024. The SBP, through its Banking Services Corporation offices, conducted over 50 awareness sessions, reaching more than 1,500 women entrepreneurs and educating them on available financing opportunities.
Mr. Ahmad called on financial institutions to adopt innovative and inclusive strategies to bridge the gender gap in financial access. He also acknowledged partnerships with organizations such as UN Women and USAID, which have played a crucial role in advancing women’s financial empowerment.
The event culminated in awards recognizing outstanding women entrepreneurs and financial institutions that have significantly contributed to enhancing women’s economic participation. The Governor expressed hope that these role models would inspire future generations of women to pursue entrepreneurial ambitions.
Looking ahead, Mr. Ahmad reaffirmed the SBP’s commitment to building a more inclusive financial ecosystem. “Empowering women is not just a moral imperative but an economic necessity,” he stated. He urged stakeholders to continue collaborating and innovating to create opportunities that enable women to play a transformative role in Pakistan’s economy.
The SBP’s efforts are seen as a step forward in addressing the structural challenges women face, fostering financial inclusion, and driving sustainable economic growth in the country.
