The State Bank of Pakistan (SBP) has introduced the Pakistan Financial Inclusion Index (P-FII) to measure the level of financial inclusion, which is being hailed as an important and historic development in the financial sector.
According to sources, the index was developed in consultation with both domestic and international institutions, and its purpose is to assess access to, usage of, and quality of financial services in Pakistan within a comprehensive framework. The State Bank clarified that the P-FII comprises 69 economic and financial indicators, providing a complete picture of banking, non-banking, and payment systems. These indicators cover financial sector infrastructure, the usage of financial products and services, and the quality of financial services.
The SBP stated that the annual results of the P-FII will be published regularly, enabling the country’s economic data to be evaluated against a clear benchmark. The central bank also noted that, under the SBP Act 1956, improving financial inclusion is part of its core mandate and objectives. In this context, the SBP is implementing the National Financial Inclusion Strategy 2024–2028, which aims to expand access to financial services across the country and improve their usage and quality.
According to the SBP, the preparation of the P-FII reflects the institution’s commitment to informed and evidence-based policymaking. The index has been developed following best international practices, with each indicator benchmarked against a defined target value representing the expected outcome that the SBP aims to achieve by 2030.
The central bank noted that developing financial inclusion indices has become a growing global trend among central banks, aiming to provide a comprehensive assessment of the inclusiveness, accessibility, and effectiveness of the financial sector. The SBP began preparing the P-FII in 2023 through a research study that reviewed the methodologies and data parameters used by various central banks and multilateral institutions. The index was later finalized after detailed consultations with both domestic and international stakeholders.
