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Financial inclusion in Pakistan increases on mobile money
Business
May 8, 2021
ISLAMABAD: Financial inclusion in Pakistan increased from 21 to 25 percent from October 20 to December 30, 2020 and it was mainly driven by mobile money adoption, Karandaaz’s survey found.
Karandaaz held a webinar to share the findings of the recently concluded survey on the impact of COVID-19 on financial behavior in Pakistan.
Waqasul Hasan, CEO of Karandaaz said the COVID-19 crisis has brought about a substantial shift towards digital financial services.
“It is an opportunity in a crisis that must be tapped. With enabling regulatory framework and institutional architecture in place, the financial industry can introduce products. The digitalization of financial services for both individuals and businesses can help overcome barriers such as costs and lack of access and open up new markets and livelihood opportunities,” Hasan said.