Pakistan

Financial literacy: State Bank to launch nationwide drive

Aims to increase awareness of delivery channels, branchless banking.

Express April 23, 2011

KARACHI:

In the first-ever initiative, the State Bank of Pakistan (SBP) will shortly launch a financial literacy programme at the national level to create awareness among general public.

SBP has signed a contract with Bearing Point Consultant for launching a pilot programme, which aims to impart knowledge about basic financial concepts.

The pilot phase will target about 50,000 beneficiaries with emphasis on the low-income strata. Upon successful completion of the pilot phase, the programme will target more than 500,000 beneficiaries across the country, relying on partnerships with financial service providers and network organisations.

The purpose of the programme, funded by the government and the Asian Development Bank, is to increase financial awareness of innovative alternate delivery channels and branchless banking and help people understand their rights and obligations.

Published in The Express Tribune, April 24^th, 2011.

COMMENTS (2)

Sarah | 13 years ago | Reply Im guessing thats a part of financial literacy.Borrowing and lending is being taught as a component of financial literacy across the globe and the idea has gained immense amount of popularity in the western world. I hope to see the impact of this initiative in this lifetime!

Hedgefunder | 13 years ago | Reply Yes very good idea! perhaps they should also extend scope to teach the people to concept of responsible borrowing and repaying the loans too!!

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