Only 14% of women in Pakistan have access to financial services, reveals survey

The percentage of Pakistanis with access to digital financial services (DFS) has grown by 28% in the past decade, according to the Karandaaz Financial Inclusion Survey. 

The survey revealed that 35% of respondents now have access to bank accounts, mobile wallets, or non-bank financial institutions in 2024, a significant increase from just 7% in 2014.

However, the financial inclusion rate for women remains disproportionately low, with only 14% of women having access to such services compared to 56% of men. The data, which was based on a survey conducted in 6,624 households across the country, highlights the gender disparity in financial inclusion.

The survey also found regional differences in financial inclusion, with Punjab leading at 40%, followed by Islamabad (38%) and Gilgit-Baltistan (33%). The gap is particularly stark in rural areas and for women, who face barriers such as limited literacy and access to technology.

While financial inclusion for men has increased by 45 percentage points from 2014, women’s inclusion has risen by only 11 percentage points, from 3% to 14%. The report also highlighted a significant gender gap in mobile wallet ownership, with 48% of men having registered mobile wallets compared to only 11% of women.

Despite a rise in mobile phone ownership among women from 29% in 2014 to 46% in 2024, male ownership has reached 82%, further emphasizing the gender divide. Only 47% of women reported having a registered SIM card, which is essential for accessing financial services.

This data reflects ongoing challenges to achieving financial equity and underscores the need for targeted efforts to bridge the gender gap in financial inclusion.