SBP Directs Banks to Raise Women's Workforce Share to 22% by 2028

The State Bank of Pakistan (SBP) has directed commercial banks to raise the share of women in their workforce from the current 17 percent to 22 percent by December 2028, setting a firm deadline for the sector to close its gender gap. Under its Banking on Equality Policy 2026, the central bank has asked banks to draw up action plans with clear timelines for recruiting more women and improving their representation across branches and offices.

To help women stay in the workforce, banks have been instructed to post female employees at branches and in cities of their choice wherever possible, addressing the mobility constraints the regulator has identified as a key barrier. Banks must also adopt merit-based promotion policies to move more women into management roles, and set up mentorship, coaching and training programmes for junior female staff.

The directives extend to hiring and workplace support. Banks are asked to appoint more women as financing officers, particularly in microfinance, agriculture, small and medium-sized enterprises, housing and sustainable finance, with the aim of widening access to financial services for female borrowers. Institutions must also comply with workplace harassment laws and provide maternity, miscarriage and iddat leave under applicable regulations, along with daycare facilities or allowances for working mothers.

According to SBP data, women's representation in the banking workforce rose from 13 percent in 2021 to 17 percent in 2025, with female employees now numbering nearly 50,000 and about 17,500 women joining the sector over the past four years. Despite that progress, women remain underrepresented in senior management and decision-making positions, and the SBP has cited employee retention, mobility restrictions, limited workplace facilities and long working hours as the main challenges.

The central bank also reported gains in women's financial inclusion. Women now hold more than 78 million bank accounts, including over 45 million active accounts, and active accounts held by women have grown 116 percent against the 2021 baseline. Around 377,000 women in agriculture have received financing worth Rs. 105 billion, about 2.8 million women have obtained microcredit totalling Rs. 152 billion, and women-operated branchless banking agent outlets now exceed 23,000, a 114 percent increase since 2021.

The SBP launched its Banking on Equality initiative in 2021 to reduce gender disparities in the financial sector and encourage banks to design services tailored to women's needs. The latest policy builds on that framework with binding targets and a clearer timetable for the industry.