In a bid to promote Equality in the Banking Sector, State Bank of Pakistan has instructed Commercial Banks to increase Women Branchless Banking agents in their networks. In this regard, SBP issues BPRD Circular No. 03 of 2021
SBP has said that Banks should develop a clear and well-documented ‘Gender Mainstreaming in Agents Strategy’ (GMAS) duly approved by its Board, with an Aim to target 10% women in their BB portfolio.
As per State Bank of Pakistan, the presence of women Branchless Banking (BB) agents is essential to aid women’s adoption of digital financial services, especially in rural areas. Women are more likely to comfortably approach, enquire and use digital financial services from a women BB agent. However, currently only 1% of BB agents are women.
State Bank of Pakistan has prescribed following timeline for implementation:
|Share of Women in Agent Portfolio||Timeline|
SBP has required Branchless Banking Providers to submit the progress against the above targets to SBP on quarterly basis.